SBA COMMUNICATIONS CORP — Director's Dealing 2025

Mar 10, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2025-03-06

Reporting Person: KREDI SAUL (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-03-06	Class A Common Stock	M	146	—	Acquired	5531.3060	Direct
2025-03-06	Class A Common Stock	F	54.5300	$220.38	Disposed	5476.7760	Direct
2025-03-06	Class A Common Stock	M	584	—	Acquired	6060.7760	Direct
2025-03-06	Class A Common Stock	F	218.1240	$220.38	Disposed	5842.6520	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-03-06	Restricted Stock Units	$	M	146	Disposed		Class A Common Stock (146)	Direct
2025-03-06	Restricted Stock Units	$	M	584	Disposed		Class A Common Stock (584)	Direct
2025-03-06	Restricted Stock Units	$	A	2451	Acquired		Class A Common Stock (2451)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (6080)	6080	Direct
Performance Restricted Stock Units	$		Class A Common Stock (439)	439	Direct
Performance Restricted Stock Units	$		Class A Common Stock (439)	439	Direct

Footnotes

F1: Shares withheld for the payment of tax liability.

F2: These options are fully vested and immediately 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: 146 vest on the first and second anniversaries of the grant date and 147 vest on the third anniversary of the grant date (March 6, 2023).

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 vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase (up to 200%) 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 vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned 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: 584 vest on the first anniversary of the grant date and 585 on the second through third anniversaries of the grant date (March 6, 2024).

F9: These restricted stock units vest in accordance with the following schedule: 817 vest on the first anniversary through third anniversaries of the grant date (March 6, 2025).