Richard M. Cane - Mar 4, 2025 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EVP; PRES. - INTERNATIONAL
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Mar 4, 2025
Transactions value $
-$71,629
Form type
4
Date filed
3/6/2025, 06:30 PM
Previous filing
Mar 8, 2024
Next filing
Mar 10, 2025
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 Options Exercise $0 +190 +4.93% $0.00 4.04K Mar 4, 2025 Direct F1
transaction SBAC Class A Common Stock Tax liability -$10.2K -46.3 -1.14% $221.51 4K Mar 4, 2025 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +1.14K +28.46% $0.00 5.14K Mar 4, 2025 Direct F3
transaction SBAC Class A Common Stock Tax liability -$61.4K -277 -5.39% $221.51 4.86K Mar 4, 2025 Direct F2

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 -190 -100% $0.00 0 Mar 4, 2025 Class A Common Stock 190 Direct F4, F5
transaction SBAC Performance Restricted Stock Units Options Exercise $0 -569 -100% $0.00 0 Mar 4, 2025 Class A Common Stock 569 Direct F3, F6, F7
transaction SBAC Performance Restricted Stock Units Disposed to Issuer $0 -569 -100% $0.00 0 Mar 4, 2025 Class A Common Stock 569 Direct F6, F8, F9
holding SBAC Restricted Stock Units 693 Mar 4, 2025 Class A Common Stock 693 Direct F4, F10
holding SBAC Performance Restricted Stock Units 2.08K Mar 4, 2025 Class A Common Stock 2.08K Direct F6, F11
holding SBAC Performance Restricted Stock Units 2.08K Mar 4, 2025 Class A Common Stock 2.08K Direct F6, F12
holding SBAC Restricted Stock Units 4.63K Mar 4, 2025 Class A Common Stock 4.63K Direct F4, F13
holding SBAC Performance Restricted Stock Units 4.63K Mar 4, 2025 Class A Common Stock 4.63K Direct F6, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes an aggregate of 87.72 shares acquired pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F2 Shares withheld for the payment of tax liability.
F3 These performance restricted stock units (PSUs) were awarded on March 4, 2022 which were subject to increase or decrease based on the results of the performance condition. These PSUs vested at 200% of target based on the results of the performance condition, such that 1,138 shares of Class A Common Stock vested.
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: 189 vest on the first anniversary of the grant date and 190 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F6 Each performance restricted stock unit represents a contingent right to received one share of Class A Common Stock.
F7 The performance restricted stock units have a three-year performance period and to the extent earned vest on March 4, 2025. 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 The PSUs previously reported as acquired by the reporting person were forfeited because the minimum performance criteria required for vesting was not met.
F9 The performance restricted stock units have a three-year performance period and to the extent earned vest on March 4, 2025. 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.
F10 These restricted stock units vest in accordance with the following schedule: 693 vest on the first anniversary of the grant date and 694 vest on each of the second and third anniversaries of the grant date (March 6, 2023).
F11 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 or decrease based on the results of the performance condition.
F12 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 or decrease based on the results of the performance condition.
F13 These restricted stock units vest in accordance to the following schedule; 1,543 vest on the first through third anniversaries of the grant date (March 6, 2024).
F14 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 subject to decrease or increase (up to 200%) based on the results of the performance conditions.