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: KOENIG JOSHUA (Executive VP/General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-04	Class A Common Stock	M	229	$0.00	Acquired	6274.327	Direct
2023-03-06	Class A Common Stock	F	85.531	$260.35	Disposed	6188.796	Direct
2023-03-04	Class A Common Stock	M	215	$0.00	Acquired	6403.796	Direct
2023-03-06	Class A Common Stock	F	80.302	$260.35	Disposed	6323.494	Direct
2023-03-06	Class A Common Stock	M	212	$0.00	Acquired	6535.494	Direct
2023-03-06	Class A Common Stock	F	79.181	$260.35	Disposed	6456.313	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-06	Restricted Stock Units	$	M	212	Disposed		Class A Common Stock (212)	Direct
2023-03-04	Restricted Stock Units	$	M	229	Disposed		Class A Common Stock (229)	Direct
2023-03-04	Restricted Stock Units	$	M	215	Disposed		Class A Common Stock (215)	Direct
2023-03-06	Restricted Stock Units	$	A	1965	Acquired		Class A Common Stock (1965)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	1965	Acquired		Class A Common Stock (1965)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	1965	Acquired		Class A Common Stock (1965)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (2724)	2724	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (9121)	9121	Direct
Performance Restricted Stock Units	$		Class A Common Stock (687)	687	Direct
Performance Restricted Stock Units	$		Class A Common Stock (687)	687	Direct
Performance Restricted Stock Units	$		Class A Common Stock (646)	646	Direct
Performance Restricted Stock Units	$		Class A Common Stock (646)	646	Direct

Footnotes

F1: On March 4, 2023, 229 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Shares withheld for payment of tax liability.

F3: On March 4, 2023, 215 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F4: On March 6, 2023, 212 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: These options are immediately exercisable.

F6: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F7: These restricted stock units vest in accordance with the following schedule: 212 vest on the first through fourth anniversaries of the grant date (March 6, 2019).

F8: These restricted stock units vest in accordance with the following schedule: 229 vest on the first through third anniversaries of the grant date (March 4, 2021).

F9: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F10: 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.

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 restricted stock units vest in accordance with the following schedule: 215 vest on the first and second anniversaries of the grant date and 216 vest on the third anniversary of the grant date (March 4, 2022).

F13: 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.

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 restricted stock units vest in accordance with the following schedule: 655 vest on the first through third anniversaries of the grant date (March 6, 2023).

F16: 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.

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.