SBA COMMUNICATIONS CORP — Director's Dealing 2025

May 21, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2025-05-17

Reporting Person: BEEBE KEVIN L (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-05-17	Class A Common Stock	M	1411	$157.51	Acquired	16708.1190	Direct
2025-05-19	Class A Common Stock	F	954	$233.08	Disposed	15754.1190	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-05-17	Stock Options (Right to Buy)	$157.51	M	1411	Disposed	2025-05-17	Class A Common Stock (1411)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$212.31	2026-05-16	Class A Common Stock (1501)	1501	Direct
Restricted Stock Units	$		Class A Common Stock (248)	248	Direct
Restricted Stock Units	$		Class A Common Stock (604)	604	Direct

Footnotes

F1: Shares withheld to cover the exercise 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: 247 vested on May 1, 2024; 248 vested on May 1, 2025; and 248 vest on May 1, 2026.

F5: These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vest on May 1, 2026; and 302 vest on May 1, 2027.