DUNCAN COCROFT - 01 May 2022 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Director
Signature: /s/ Thomas P. Hunt, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 01 May 2022
Net transactions value: -$74,361
Form type: 4
Filing time: 03 May 2022, 17:54:53 UTC
Previous filing: 10 Mar 2022
Next filing: 16 May 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		+183	+0.28%		65,562	01 May 2022	Direct	F1
transaction	SBAC	Class A Common Stock	Options Exercise		+190	+0.29%		65,752	01 May 2022	Direct	F2
transaction	SBAC	Class A Common Stock	Options Exercise		+206	+0.31%		65,958	01 May 2022	Direct	F3
transaction	SBAC	Class A Common Stock	Tax liability	$74,361	-214	-0.32%	$347.11	65,744	01 May 2022	Direct	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	Restricted Stock Units	Options Exercise		-183	-100%		0	01 May 2022	Class A Common Stock	183		Direct	F1, F7, F8
transaction	SBAC	Restricted Stock Units	Options Exercise		-190	-50%		190	01 May 2022	Class A Common Stock	190		Direct	F2, F7, F9
transaction	SBAC	Restricted Stock Units	Options Exercise		-206	-33%		413	01 May 2022	Class A Common Stock	206		Direct	F3, F7, F10
holding	SBAC	Stock Options (Right to Buy)						2,308	01 May 2022	Class A Common Stock	2,308	$100.00	Direct	F5
holding	SBAC	Stock Options (Right to Buy)						1,977	01 May 2022	Class A Common Stock	1,977	$132.00	Direct	F5
holding	SBAC	Stock Options (Right to Buy)						1,411	01 May 2022	Class A Common Stock	1,411	$157.51	Direct	F5
holding	SBAC	Stock Options (Right to Buy)						1,501	01 May 2022	Class A Common Stock	1,501	$212.31	Direct	F6

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

Explanation of Responses:

Id	Content
F1	On May 1, 2022, 183 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F2	On May 1, 2022, 190 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F3	On May 1, 2022, 206 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F4	Shares withheld for tax liability.
F5	These options are exercisable immediately.
F6	These options vest in accordance with the following schedule: 500 vest on May 1, 2020; 500 vest on May 1, 2021; and 501 vest on May 1, 2022.
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: 181 vest on May 1, 2020; 182 vest on May 1, 2021; and 183 vest on May 1, 2022.
F9	These restricted stock units vest in accordance with the following schedule: 190 vest on May 1, 2021; 190 vest on May 1, 2022; and 190 vest on May 1, 2023.
F10	These restricted stock units vest in accordance with the following schedule: 206 vest on May 1, 2022; 206 vest on May 1, 2023; and 207 vest on May 1, 2024.