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

Role: Executive VP/General Counsel
Signature: /s/ Thomas P. Hunt
Issuer symbol: SBAC
Transactions as of: 25 Feb 2022
Net transactions value: $0
Form type: 4
Filing time: 01 Mar 2022, 16:57:05 UTC
Previous filing: 11 Feb 2022
Next filing: 08 Mar 2022
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		-1,285	-1.1%		118,677	25 Feb 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		-1,285	-50%		1,286	25 Feb 2022	Class A Common Stock	1,285		Direct	F1, F3, F7
holding	SBAC	Stock Options (Right to Buy)						13,519	25 Feb 2022	Class A Common Stock	13,519	$156.50	Direct	F2
holding	SBAC	Restricted Stock Units						1,409	25 Feb 2022	Class A Common Stock	1,409		Direct	F3, F4
holding	SBAC	Stock Options (Right to Buy)						29,391	25 Feb 2022	Class A Common Stock	29,391	$182.30	Direct	F5
holding	SBAC	Restricted Stock Units						2,734	25 Feb 2022	Class A Common Stock	2,734		Direct	F3, F6
holding	SBAC	Performance Restricted Stock Units						3,856	25 Feb 2022	Class A Common Stock	3,856		Direct	F8, F9
holding	SBAC	Performance Restricted Stock Units						3,856	25 Feb 2022	Class A Common Stock	3,856		Direct	F8, F10
holding	SBAC	Restricted Stock Units						3,872	25 Feb 2022	Class A Common Stock	3,872		Direct	F3, F11
holding	SBAC	Performance Restricted Stock Units						3,872	25 Feb 2022	Class A Common Stock	3,872		Direct	F8, F12
holding	SBAC	Performance Restricted Stock Units						3,872	25 Feb 2022	Class A Common Stock	3,872		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.