SBA COMMUNICATIONS CORP — Director's Dealing 2024

Dec 12, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2024-12-09

Reporting Person: Ciarfella Mark R (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-12-09	Class A Common Stock	M	3545	$182.30	Acquired	37133.3821	Direct
2024-12-09	Class A Common Stock	S	3545	$224.3258	Disposed	33588.3821	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-12-09	Stock Options (Right to Buy)	$182.3	M	3545	Disposed	2026-03-06	Class A Common Stock (3545)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class A Common Stock (611)	611	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1831)	1831	Direct
Restricted Stock Units	$		Class A Common Stock (1430)	1430	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2144)	2144	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2144)	2144	Direct
Restricted Stock units	$		Class A Common Stock (4772)	4772	Direct
Performance Restricted Stock Units	$		Class A Common Stock (4771)	4771	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranges from $224.3214 to $224.36 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security hold of the issuer full information regarding the number of shares sold at each separate price.

F2: These stock options are fully vested and exercisable.

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: 610 on the first and second anniversaries of the grant date and 611 on the third anniversary of the grant date (March 4, 2022).

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

F6: The 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.

F7: The 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.

F8: 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 the second and third anniversary of the grant date (March 6, 2023).

F9: The 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.

F10: The 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.

F11: These restricted stock units vest in accordance with the following schedule: 1,591 vest on the first and second anniversaries and 1,590 vest on the third anniversary of the grant date (March 6, 2024).

F12: These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 6, 2027. 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 decrease or increase (up to 200%) based on the results of the performance conditions.