Thomas P. Hunt - Feb 25, 2022 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Executive VP/General Counsel
Signature: /s/ Thomas P. Hunt
Stock symbol: SBAC
Transactions as of: Feb 25, 2022
Transactions value $: $0
Form type: 4
Date filed: 3/1/2022, 04:57 PM
Previous filing: Feb 11, 2022
Next filing: Mar 8, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Options Exercise		-1.29K	-1.07%		119K	Feb 25, 2022	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	Options Exercise		-1.29K	-49.98%		1.29K	Feb 25, 2022	Class A Common Stock	1.29K		Direct	F1, F3, F7
holding	SBAC	Stock Options (Right to Buy)						13.5K	Feb 25, 2022	Class A Common Stock	13.5K	$156.50	Direct	F2
holding	SBAC	Restricted Stock Units						1.41K	Feb 25, 2022	Class A Common Stock	1.41K		Direct	F3, F4
holding	SBAC	Stock Options (Right to Buy)						29.4K	Feb 25, 2022	Class A Common Stock	29.4K	$182.30	Direct	F5
holding	SBAC	Restricted Stock Units						2.73K	Feb 25, 2022	Class A Common Stock	2.73K		Direct	F3, F6
holding	SBAC	Performance Restricted Stock Units						3.86K	Feb 25, 2022	Class A Common Stock	3.86K		Direct	F8, F9
holding	SBAC	Performance Restricted Stock Units						3.86K	Feb 25, 2022	Class A Common Stock	3.86K		Direct	F8, F10
holding	SBAC	Restricted Stock Units						3.87K	Feb 25, 2022	Class A Common Stock	3.87K		Direct	F3, F11
holding	SBAC	Performance Restricted Stock Units						3.87K	Feb 25, 2022	Class A Common Stock	3.87K		Direct	F8, F12
holding	SBAC	Performance Restricted Stock Units						3.87K	Feb 25, 2022	Class A Common Stock	3.87K		Direct	F8, F13

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

Explanation of Responses:

Id	Content
F1	On February 25, 2022, 1,285 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F2	These options vest in accordance with the following schedule: 13,518 vest on each of the first and the third anniversaries of the grant date, and 13,519 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).
F3	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F4	These restricted stock units vest in accordance with the following schedule: 1,409 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).
F5	These options vest in accordance with the following schedule: 14,695 vest on each of the first through third anniversaries of the grant date and 14,696 vest on the fourth anniversary of the grant date (March 6, 2019).
F6	These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).
F7	These restricted stock units vest in accordance with the following schedule: 1,285 vest on the first and second anniversaries of the grant date and 1,286 vest on the third anniversary of the grant date (February 25, 2020).
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 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.
F10	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.
F11	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 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
F12	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.
F13	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.