JASON V. SILBERSTEIN - 29 Dec 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EVP - Site Leasing
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 29 Dec 2023
Transactions value $: $0
Form type: 4
Filing time: 03 Jan 2024, 17:30:53 UTC
Previous filing: 15 Dec 2023
Next filing: 06 Mar 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Gift	$0	-400	-1.34%	$0.00	29.5K	29 Dec 2023	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	SBAC	Stock Options (Right to Buy)						16.5K	29 Dec 2023	Class A Common Stock	16.5K	$115.17	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						39.9K	29 Dec 2023	Class A Common Stock	39.9K	$156.50	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						44.6K	29 Dec 2023	Class A Common Stock	44.6K	$182.30	Direct	F2
holding	SBAC	Restricted Stock Units						991	29 Dec 2023	Class A Common Stock	991		Direct	F3, F4
holding	SBAC	Performance Restricted Stock Units						2.97K	29 Dec 2023	Class A Common Stock	2.97K		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						2.97K	29 Dec 2023	Class A Common Stock	2.97K		Direct	F5, F7
holding	SBAC	Restricted Stock Units						1.76K	29 Dec 2023	Class A Common Stock	1.76K		Direct	F3, F8
holding	SBAC	Performance Restricted Stock Units						2.64K	29 Dec 2023	Class A Common Stock	2.64K		Direct	F5, F9
holding	SBAC	Performance Restricted Stock Units						2.64K	29 Dec 2023	Class A Common Stock	2.64K		Direct	F5, F10
holding	SBAC	Restricted Stock Units						3.1K	29 Dec 2023	Class A Common Stock	3.1K		Direct	F3, F11
holding	SBAC	Performance Restricted Stock Units						3.1K	29 Dec 2023	Class A Common Stock	3.1K		Direct	F5, F12
holding	SBAC	Performance Restricted Stock Units						3.1K	29 Dec 2023	Class A Common Stock	3.1K		Direct	F5, F13

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person gifted these shares to a 501(c)(3) charitable fund in an exempt transaction pursuant to Rule 16b-5 of the Securities Exchange Act of 1934, as amended.
F2	These options are 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: 991 vest on each of the first through third anniversaries of the grant date (March 4, 2021).
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 100% on March 4, 2024, 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 or decrease based on the results of the performance condition.
F7	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, 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 or decrease based on the results of the performance condition.
F8	These restricted stock units vest in accordance with the following schedule: 879 vest on each of the first through third anniversaries of the grant date (March 4, 2022).
F9	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% 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 or decrease based on the results of the performance condition.
F10	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% 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 or decrease based on the results of the performance condition.
F11	These restricted stock units vest in accordance with the following schedule: 1,034 vest on the first anniversary of the grant date and 1,035 vest on each of the second through fourth anniversaries of the grant date (March 6, 2023).
F12	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% 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 or decrease based on the results of the performance condition.
F13	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% 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 or decrease based on the results of the performance condition.