SBA COMMUNICATIONS CORP — Director's Dealing 2026

Jan 22, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2026-01-20

Reporting Person: KREDI SAUL (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-20	Class A Common Stock	M	6080	$182.30	Acquired	11922.6700	Direct
2026-01-20	Class A Common Stock	F	5873	$194.11	Disposed	6049.6700	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-20	Stock Options (Right to Buy)	$182.30	M	6080	Disposed	2026-03-06	Class A Common Stock (6080)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class A Common Stock (147)	147	Direct
Performance Restricted Stock Units	$		Class A Common Stock (439)	439	Direct
Performance Restricted Stock Units	$		Class A Common Stock (439)	439	Direct
Restricted Stock Units	$		Class A Common Stock (1170)	1170	Direct
Restricted Stock Units	$		Class A Common Stock (2451)	2451	Direct

Footnotes

F1: Includes 0.018 shares acquired through a dividend reinvestment plan.

F2: Shares withheld for payment of tax liability and exercise price.

F3: These options are fully vested and immediately exercisable.

F4: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F5: 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).

F6: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F7: 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.

F8: 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.

F9: 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).

F10: 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).