Richard M. Cane - Jan 1, 2023 Form 3 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EVP; Pres. - International
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Stock symbol: SBAC
Transactions as of: Jan 1, 2023
Transactions value $: $0
Form type: 3
Date filed: 1/11/2023, 04:20 PM
Next filing: Feb 28, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SBAC	Class A Common Stock						492	Jan 1, 2023	Direct

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
holding	SBAC	Restricted Stock Units							Jan 1, 2023	Class A Common Stock	176		Direct	F1, F2
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	527		Direct	F3, F4
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	527		Direct	F4, F5
holding	SBAC	Restricted Stock Units							Jan 1, 2023	Class A Common Stock	396		Direct	F2, F6
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	593		Direct	F4, F7
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	593		Direct	F4, F8
holding	SBAC	Restricted Stock Units							Jan 1, 2023	Class A Common Stock	569		Direct	F2, F9
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	569		Direct	F4, F10
holding	SBAC	Performance Restricted Stock Units							Jan 1, 2023	Class A Common Stock	569		Direct	F4, F11

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

Explanation of Responses:

Id	Content
F1	These restricted stock units vest in accordance with the following schedule: 175 vest on the first anniversary of the grant date and 176 vest on the second and third anniversaries of the grant date (February 25, 2020).
F2	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3	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.
F4	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5	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.
F6	These restricted stock units vest in accordance with the following schedule: 197 vest on the first anniversary of the grant date and 198 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
F7	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.
F8	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.
F9	These restricted stock units vest in accordance with the following schedule: 189 vest on the first anniversary of the grant date and 190 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F10	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, 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 performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, 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.