SBA COMMUNICATIONS CORP — Director's Dealing 2023

Mar 8, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2023-03-04

Reporting Person: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-04	Class A Common Stock	M	677	$0.00	Acquired	29244.761	Direct
2023-03-06	Class A Common Stock	F	250.489	$260.35	Disposed	28994.272	Direct
2023-03-04	Class A Common Stock	M	610	$0.00	Acquired	29604.272	Direct
2023-03-06	Class A Common Stock	F	225.7	$260.35	Disposed	29378.572	Direct
2023-03-06	Class A Common Stock	M	693	$0.00	Acquired	30071.572	Direct
2023-03-06	Class A Common Stock	F	256.409	$260.35	Disposed	29815.163	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-06	Restricted Stock Units	$	M	693	Disposed		Class A Common Stock (693)	Direct
2023-03-04	Restricted Stock Units	$	M	677	Disposed		Class A Common Stock (677)	Direct
2023-03-04	Restricted Stock Units	$	M	610	Disposed		Class A Common Stock (610)	Direct
2023-03-06	Restricted Stock Units	$	A	2144	Acquired		Class A Common Stock (2144)	Direct
2023-03-06	Performance Restricted Stock UnitsP	$	A	2144	Acquired		Class A Common Stock (2144)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	2144	Acquired		Class A Common Stock (2144)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (8545)	8545	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2030)	2030	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct

Footnotes

F1: On March 4, 2023, 677 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Includes 83.528 shares acquired on February 28, 2023 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

F3: Shares withheld for payment of tax liability.

F4: On March 6, 2023, 610 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: On March 6, 2023, 693 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F6: These options vest in accordance with the following schedule: 7,449 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F7: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F8: These restricted stock units vest in accordance with the following schedule: 692 vest on first anniversary of the grant date and 693 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).

F9: These restricted stock units vest in accordance with the following schedule: 676 vest on the first anniversary of the grant date and 677 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

F10: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F11: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F12: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F13: These restricted stock units vest in accordance with the following schedule: 610 vest on the first and second anniversary of the grant date and 611 vest on third anniversaries of the grant date (March 4, 2022).

F14: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F15: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F16: These restricted stock units vest in accordance with the following schedule: 714 vest on the first anniversary of the grant date and 715 vest on second and third anniversaries of the grant date (March 6, 2023).

F17: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 6, 2026, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F18: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 6, 2026, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.