SBA COMMUNICATIONS CORP — Director's Dealing 2023

Feb 7, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2023-02-03

Reporting Person: Lazarus Brian D (SVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-03	Class A Common Stock	M	638	$156.50	Acquired	23189.178	Direct
2023-02-03	Class A Common Stock	F	325	$308.09	Disposed	22864.178	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-02-03	Stock Options (Right to Buy)	$156.50	M	638	Disposed	2025-03-06	Class A Common Stock (638)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (23512)	23512	Direct
Restricted Stock Units	$		Class A Common Stock (547)	547	Direct
Restricted Stock Units	$		Class A Common Stock (519)	519	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1555)	1555	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1555)	1555	Direct
Restricted Stock Units	$		Class A Common Stock (1083)	1083	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1624)	1624	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1624)	1624	Direct
Restricted Stock Units	$		Class A Common Stock (1463)	1463	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1463)	1463	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1463)	1463	Direct

Footnotes

F1: Includes 199.253 shares acquired through a dividend reinvestment plan.

F2: Represents shares used to pay option exercise price.

F3: These options are immediately exercisable.

F4: These options vest in accordance with the following schedule: 5,878 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F5: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F6: These restricted stock units vest in accordance with the following schedule: 546 vest on each of the first and third anniversaries of the grant date and 547 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).

F7: These restricted stock units vest in accordance with the following schedule: 518 vest on the first and second anniversaries of the grant date and 519 vest on the third anniversary of the grant date (February 25, 2020).

F8: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F9: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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.

F10: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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 restricted stock units vest in accordance with the following schedule: 541 vest on each of the first and second anniversaries of the grant date and 542 vest on the third anniversary of the grant date (March 4, 2021).

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 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.

F14: These restricted stock units vest in accordance with the following schedule: 487 vest on the first anniversary of the grant date and 488 vest on each of the second and third anniversaries of the grant date (March 4, 2022).

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 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.