JEFFREY STOOPS - 04 Mar 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Signature
/s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
04 Mar 2024
Net transactions value
-$1,996,777
Form type
4
Filing time
06 Mar 2024, 20:30:36 UTC
Previous filing
12 Dec 2023
Next filing
08 Mar 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +3,373 +2.4% $0.000000 143,549 04 Mar 2024 Direct F1
transaction SBAC Class A Common Stock Tax liability $259,948 -1,248 -0.87% $208.29 142,301 04 Mar 2024 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +20,236 +14% $0.000000 162,537 04 Mar 2024 Direct F3
transaction SBAC Class A Common Stock Tax liability $1,508,325 -7,241 -4.5% $208.29 155,295 04 Mar 2024 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +2,965 +1.9% $0.000000 158,260 04 Mar 2024 Direct
transaction SBAC Class A Common Stock Tax liability $228,504 -1,097 -0.69% $208.29 157,163 04 Mar 2024 Direct F2
holding SBAC Class A Common Stock 259,863 04 Mar 2024 By Limited Partnership F4

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
transaction SBAC Restricted Stock Units Options Exercise $0 -3,373 -100% $0.000000* 0 04 Mar 2024 Class A Common Stock 3,373 Direct F6, F7
transaction SBAC Performance Restricted Stock Units Options Exercise $0 -10,118 -100% $0.000000* 0 04 Mar 2024 Class A Common Stock 10,118 Direct F3, F8, F9
transaction SBAC Restricted Stock Units Options Exercise $0 -2,965 -50% $0.000000 2,965 04 Mar 2024 Class A Common Stock 2,965 Direct F6, F10
holding SBAC Stock Options (Right to Buy) 137,601 04 Mar 2024 Class A Common Stock 137,601 $156.50 Direct F5
holding SBAC Stock Options (Right to Buy) 149,446 04 Mar 2024 Class A Common Stock 149,446 $182.30 Direct F5
holding SBAC Performance Restricted Stock Units 8,894 04 Mar 2024 Class A Common Stock 8,894 Direct F8, F11
holding SBAC Performance Restricted Stock Units 8,894 04 Mar 2024 Class A Common Stock 8,894 Direct F8, F12
holding SBAC Restricted Stock Units 10,404 04 Mar 2024 Class A Common Stock 10,404 Direct F6, F13
holding SBAC Performance Restricted Stock Units 10,404 04 Mar 2024 Class A Common Stock 10,404 Direct F8, F14
holding SBAC Performance Restricted Stock Units 10,404 04 Mar 2024 Class A Common Stock 10,404 Direct F8, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes an aggregate of 101.23 shares acquired on March 1, 2024 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F2 Shares withheld for payment of tax liability.
F3 As previously reported on a Form 4, the Reporting Person was awarded 10,118 performance restricted stock units (PSUs) on March 4, 2021 which were subject to increase or decrease based the results of the performance condition. On March 4, 2024, these PSUs vested at 200% of target based on the results of the performance condition, such that 20,236 shares of Class A Common Stock became issuable to the Reporting Person.
F4 These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.
F5 These stock options are fully vested and exercisable.
F6 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F7 These restricted stock units vest in accordance with the following schedule: 3,372 vested on the first anniversary of the grant date and 3,373 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
F8 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F9 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 period.
F10 These restricted stock units vest in accordance with the following schedule: 2,964 vested on the first anniversary of the grant date and 2,965 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F11 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 period.
F12 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 period.
F13 These restricted stock units vest in accordance with the following schedule: 3,468 vest on the first through third anniversaries of the grant date (March 6, 2023).
F14 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 period.
F15 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 period.