SBA COMMUNICATIONS CORP — Director's Dealing 2024

Mar 9, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2024-03-06

Reporting Person: Ciarfella Mark R (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-03-06	Class A Common Stock	M	714	—	Acquired	33852.5621	Direct
2024-03-06	Class A Common Stock	F	264.18	$216.50	Disposed	33588.3821	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2024-03-06	Restricted Stock Units	$	M	714	Disposed		Class A Common Stock (714)	Direct
2024-03-06	Restricted Stock units	$	A	4772	Acquired		Class A Common Stock (4772)	Direct
2024-03-06	Performance Restricted Stock Units	$	A	4771	Acquired		Class A Common Stock (4771)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.3	2026-03-06	Class A Common Stock (3545)	3545	Direct
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
Performance Restricted Stock Units	$		Class A Common Stock (2144)	2144	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2144)	2144	Direct

Footnotes

F1: Shares withheld for payment of tax liability.

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: 610 vest on the first and second anniversary of the grant date and 611 vest on 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 conditions.

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 conditions.

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: 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 conditions.

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 conditions.

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.