Philip M. Kelley - Feb 19, 2023 Form 4 Insider Report for CROWN CASTLE INC. (CCI)

Role: EVP, Corp Dev & Strategy
Signature: /s/ Philip M. Kelley
Stock symbol: CCI
Transactions as of: Feb 19, 2023
Transactions value $: -$269,965
Form type: 4
Date filed: 2/22/2023, 04:40 PM
Previous filing: Feb 23, 2022
Next filing: Feb 24, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CCI	Common Stock, $0.01 Par Value	Options Exercise	$0	+3.28K	+2.21%	$0.00	152K	Feb 19, 2023	Direct
transaction	CCI	Common Stock, $0.01 Par Value	Options Exercise	$0	+1.36K	+0.9%	$0.00	153K	Feb 19, 2023	Direct
transaction	CCI	Common Stock, $0.01 Par Value	Options Exercise	$0	+1.42K	+0.92%	$0.00	155K	Feb 19, 2023	Direct
transaction	CCI	Common Stock, $0.01 Par Value	Options Exercise	$0	+1.43K	+0.92%	$0.00	156K	Feb 19, 2023	Direct
transaction	CCI	Common Stock, $0.01 Par Value	Tax liability	-$270K	-1.92K	-1.23%	$140.68	154K	Feb 19, 2023	Direct	F1
holding	CCI	Common Stock, $0.01 Par Value						1.45K	Feb 19, 2023	by 401(K) Plan	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	CCI	Performance RSUs	Options Exercise	$0	-3.28K	-100%	$0.00^*	0	Feb 19, 2023	Common Stock	3.28K		Direct	F3, F4
transaction	CCI	Time RSUs	Options Exercise	$0	-1.36K	-100%	$0.00^*	0	Feb 19, 2023	Common Stock	1.36K		Direct	F3, F5
transaction	CCI	Time RSUs	Options Exercise	$0	-1.42K	-50%	$0.00	1.42K	Feb 19, 2023	Common Stock	1.42K		Direct	F3, F6
transaction	CCI	Time RSUs	Options Exercise	$0	-1.43K	-33.33%	$0.00	2.86K	Feb 19, 2023	Common Stock	1.43K		Direct	F3, F7

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

Explanation of Responses:

Id	Content
F1	Represents shares withheld by the issuer to satisfy the Reporting Person's tax withholding obligation in connection with the vesting of certain Restricted Stock Units ("RSUs") previously granted to the Reporting Person. Such withholding is exempt from Section 16 (b) pursuant to Rule 16b-3(e).
F2	Represents shares previously acquired in transactions exempt under Rule 16b-3(c).
F3	Each RSU was issued pursuant to the Company's 2013 Long-Term Incentive Plan and represents a contingent right to receive one share of common stock, and vesting (i.e., forfeiture restriction termination) generally is subject to (i) the reporting person remaining an employee or director of the Company or its affiliates and (ii) the other criteria described in the footnotes herein.
F4	3,282 Relative TSR Performance RSUs vested on February 19, 2023, based upon the Company's annualized total stockholder return performance ranking relative to the constituent companies of the Standard & Poor's 500 Index for the three-year period ended December 31, 2022.
F5	These Time RSUs were previously granted on February 20, 2020. 33 1/3% of the original grant amount of these Time RSUs vest on February 19 of each of 2021, 2022 and 2023.
F6	These Time RSUs were previously granted on February 18, 2021. 33 1/3% of the original grant amount of these Time RSUs vest on February 19 of each of 2022, 2023 and 2024.
F7	These Time RSUs were previously granted on February 17, 2022. 33 1/3% of the original grant amount of these Time RSUs vest on February 19 of each of 2023, 2024 and 2025.