Marc Montagner - 06 Mar 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EVP - CHIEF FINANCIAL OFFICER
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 06 Mar 2024
Net transactions value: $0
Form type: 4
Filing time: 08 Mar 2024, 18:30:17 UTC
Previous filing: 03 Jan 2024
Next filing: 01 Apr 2024
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SBAC	Class A Common Stock						101	06 Mar 2024	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
transaction	SBAC	Restricted Stock Units	Award	$0	+6,215		$0.000000	6,215	06 Mar 2024	Class A Common Stock	6,215		Direct	F2, F4
transaction	SBAC	Performance Restricted Stock Units	Award	$0	+6,215		$0.000000	6,215	06 Mar 2024	Class A Common Stock	6,215		Direct	F5, F6
holding	SBAC	Restricted Stock Units						4,764	06 Mar 2024	Class A Common Stock	4,764		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	Represents an aggregate of 101.23 shares acquired on March 1, 2024 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F2	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3	These restricted stock units vest in accordance with the following schedule: 1,588 vest on the first through third anniversaries of the grant date (October 17, 2023).
F4	These restricted stock units vest in accordance with the following schedule: 2,072 vest on the first and second anniversaries and 2,071 vest on the third anniversary of the grant date (March 6, 2024).
F5	Each performance restricted stock unit represents a contingent right to received one share of Class A Common Stock.
F6	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 at the end of the three-year performance period is subject to decrease or increase (up to 200%) based on the results of the performance conditions.