SBA COMMUNICATIONS CORP — Director's Dealing 2024

May 29, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2024-05-23

Reporting Person: STOOPS JEFFREY (N/A)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-05-23	Restricted Stock Units	$	A	906	Acquired		Class A Common Stock (906)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	159347.9720	Direct
Class A Common Stock	259863	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (137601)	137601	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (149446)	149446	Direct
Restricted Stock Units	$		Class A Common Stock (2965)	2965	Direct
Performance Restricted Stock Units	$		Class A Common Stock (8894)	8894	Direct
Performance Restricted Stock Units	$		Class A Common Stock (8894)	8894	Direct
Restricted Stock Units	$		Class A Common Stock (6936)	6936	Direct
Performance Restricted Stock Units	$		Class A Common Stock (10404)	10404	Direct
Performance Restricted Stock Units	$		Class A Common Stock (10404)	10404	Direct

Footnotes

F1: These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.

F2: These 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: 2,964 vested on the first anniversary of the grant date and 2,965 vest on each of the second and third anniversaries 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: These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance condition.

F7: These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance condition.

F8: These restricted stock units vest in accordance with the following schedule: 3,468 vest on the first through third anniversaries of the grant date (March 6, 2023).

F9: These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) 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 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 (up to 200%) or decrease based on the results of the performance condition.

F11: These restricted stock units vest in accordance with the following schedule: 302 vest on May 1, 2025; 302 vest on May 1, 2026; and 302 vest on May 1, 2027.