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: CANE RICHARD M (EVP; Pres. - International)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-04	Class A Common Stock	M	198	$0.00	Acquired	1979.308	Direct
2023-03-06	Class A Common Stock	F	48.213	$260.35	Disposed	1931.095	Direct
2023-03-04	Class A Common Stock	M	189	$0.00	Acquired	2120.095	Direct
2023-03-06	Class A Common Stock	F	46.021	$260.35	Disposed	2074.074	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-03-04	Restricted Stock Units	$	M	198	Disposed		Class A Common Stock (198)	Direct
2023-03-04	Restricted Stock Units	$	M	189	Disposed		Class A Common Stock (189)	Direct
2023-03-06	Restricted Stock Units	$	A	2081	Acquired		Class A Common Stock (2081)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	2081	Acquired		Class A Common Stock (2081)	Direct
2023-03-06	Performance Restricted Stock Units	$	A	2081	Acquired		Class A Common Stock (2081)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Performance Restricted Stock Units	$		Class A Common Stock (593)	593	Direct
Performance Restricted Stock Units	$		Class A Common Stock (593)	593	Direct
Performance Restricted Stock Units	$		Class A Common Stock (569)	569	Direct
Performance Restricted Stock Units	$		Class A Common Stock (569)	569	Direct

Footnotes

F1: Includes 11.75 shares acquired on February 28, 2023 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

F2: Shares withheld for payment of tax liability.

F3: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F4: These restricted stock units vest in accordance with the following schedule: 197 vest on the first anniversary of the grant date and 198 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

F5: On March 4, 2023, 198 of the Reporting Person's restricted share units were settled for an equal number of shares of Class A Common Stock.

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

F7: 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.

F8: 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.

F9: These restricted stock units vest in accordance with the following schedule: 189 vest on the first anniversary of the grant date and 190 vest on each of the second and third anniversaries of the grant date (March 4, 2022).

F10: On March 4, 2023, 189 of the Reporting Person's restricted share units were settled for an equal number of shares 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, 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.

F12: 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.

F13: These restricted stock units vest in accordance with the following schedule: 693 vest on the first anniversary of the grant date and 694 vest on each of the second and third anniversaries of the grant date (March 6, 2023).

F14: 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.

F15: 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.