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: KOENIG JOSHUA (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-01-20	Class A Common Stock	M	9121	$182.30	Acquired	14682.7350	Direct
2026-01-20	Class A Common Stock	F	8800	$194.11	Disposed	5882.7350	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2026-01-20	Stock Options (Right to Buy)	$182.3	M	9121	Disposed	2026-03-06	Class A Common Stock (9121)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class A Common Stock (655)	655	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1965)	1965	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1965)	1965	Direct
Restricted Stock Units	$		Class A Common Stock (2960)	2960	Direct
Performance Restricted Stock Units	$		Class A Common Stock (4440)	4440	Direct
Restricted Stock Units	$		Class A Common Stock (5760)	5760	Direct
Performance Restricted Stock Units	$		Class A Common Stock (5760)	5760	Direct

Footnotes

F1: Shares withheld for payment of tax liability and exercise price.

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: 655 vest on the first through third anniversaries 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 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 or decrease based on the results of the performance condition.

F7: These performance 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 or decrease based on the results of the performance condition.

F8: These restricted stock units vest in accordance with the following schedule: 1,480 vest on the first through third anniversaries of the grant date (March 6, 2024).

F9: 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 is subject to decrease or increase (up to 200%) based on the results of the performance conditions.

F10: These restricted stock units vest in accordance with the following schedule: 1,920 vest on the first through third anniversaries of the grant date (March 6, 2025).

F11: 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, 2028. The number of shares of Class A Common Stock that will be earned is subject to decrease or increase (up to 200%) based on the results of the performance conditions.