Brendan Thomas Cavanagh - 02 Sep 2021 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Signature
/s/ Thomas P. Hunt, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
02 Sep 2021
Net transactions value
-$15,061,288
Form type
4
Filing time
03 Sep 2021, 17:48:40 UTC
Previous filing
29 Mar 2022
Next filing
11 Feb 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $6,928,973 +60,163 +194% $115.17 91,170 02 Sep 2021 Direct
transaction SBAC Class A Common Stock Sale $7,820,177 -21,451 -24% $364.56 69,719 02 Sep 2021 Direct F1
transaction SBAC Class A Common Stock Sale $6,064,874 -16,592 -24% $365.53 53,127 02 Sep 2021 Direct F2
transaction SBAC Class A Common Stock Sale $8,105,210 -22,120 -42% $366.42 31,007 02 Sep 2021 Direct F3
holding SBAC Class A Common Stock 19,049 02 Sep 2021 By LLC 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 Stock Options (Right to Buy) Options Exercise $0 -60,163 -100% $0.000000* 0 02 Sep 2021 Class A Common 60,163 $115.17 Direct F5
holding SBAC Stock Options (Right to Buy) 50,212 02 Sep 2021 Class A Common Stock 50,212 $156.50 Direct F6
holding SBAC Restricted Stock Units 1,309 02 Sep 2021 Class A Common Stock 1,309 Direct F7, F8
holding SBAC Stock Options (Right to Buy) 55,741 02 Sep 2021 Class A Common Stock 55,741 $182.30 Direct F9
holding SBAC Restricted Stock Units 2,592 02 Sep 2021 Class A Common Stock 2,592 Direct F7, F10
holding SBAC Restricted Stock Units 2,442 02 Sep 2021 Class A Common Stock 2,442 Direct F7, F11
holding SBAC Performance Restricted Stock Units 3,663 02 Sep 2021 Class A Common Stock 3,663 Direct F12, F13
holding SBAC Performance Restricted Stock Units 3,663 02 Sep 2021 Class A Common Stock 3,663 Direct F12, F14
holding SBAC Restricted Stock Units 3,872 02 Sep 2021 Class A Common Stock 3,872 Direct F7, F15
holding SBAC Performance Restricted Stock Units 3,872 02 Sep 2021 Class A Common Stock 3,872 Direct F12, F16
holding SBAC Performance Restricted Stock Units 3,872 02 Sep 2021 Class A Common Stock 3,872 Direct F12, F17
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $364.02 to $365.01 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F2 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $365.02 to $365.99 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F3 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $366.03 to $366.65 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F4 These shares are owned by Cavanagh Investments, LLC. The Reporting Person holds all voting and dispositive power for these shares. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.
F5 These options are immediately exercisable.
F6 These options vest in accordance with the following schedule: 12,553 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).
F7 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F8 These restricted stock units vest in accordance with the following schedule: 1,308 vest on each of the first and the third anniversaries of the grant date, and 1,309 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).
F9 These options vest in accordance with the following schedule: 13,935 vest on each of the first through third anniversaries of the grant date and 13,936 vest on the fourth anniversary of the grant date (March 6, 2019).
F10 These restricted stock units vest in accordance with the following schedule: 1,296 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).
F11 These restricted stock units vest in accordance with the following schedule: 1,221 vest on each of the first through third anniversaries of the grant date (February 25, 2020).
F12 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F13 These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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.
F14 These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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.
F15 These restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vests on each of the second and third anniversaries of the grant date (March 4, 2021).
F16 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.
F17 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.