Richard M. Cane - Feb 25, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EVP; Pres. - International
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Feb 25, 2023
Transactions value $
-$113,355
Form type
4
Date filed
2/28/2023, 08:25 PM
Previous filing
Jan 11, 2023
Next filing
Mar 7, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +176 +35.79% $0.00 668 Feb 25, 2023 Direct F1
transaction SBAC Class A Common Stock Options Exercise $0 +1.05K +157.84% $0.00 1.72K Feb 25, 2023 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +487 +28.31% $0.00 2.21K Feb 25, 2023 Direct F3
transaction SBAC Class A Common Stock Tax liability -$113K -440 -19.9% $257.82 1.77K Feb 25, 2023 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 -176 -100% 0 Feb 25, 2023 Class A Common Stock 176 Direct F1, F5, F6
transaction SBAC Performance Restricted Stock Units Options Exercise -527 -100% 0 Feb 25, 2023 Class A Common Stock 527 Direct F2, F7, F8
transaction SBAC Performance Restricted Stock Units Options Exercise -527 -100% 0 Feb 25, 2023 Class A Common Stock 527 Direct F3, F7, F9
holding SBAC Restricted Stock Units 396 Feb 25, 2023 Class A Common Stock 396 Direct F5, F10
holding SBAC Performance Restricted Stock Units 593 Feb 25, 2023 Class A Common Stock 593 Direct F7, F11
holding SBAC Performance Restricted Stock Units 593 Feb 25, 2023 Class A Common Stock 593 Direct F7, F12
holding SBAC Restricted Stock Units 569 Feb 25, 2023 Class A Common Stock 569 Direct F5, F13
holding SBAC Performance Restricted Stock Units 569 Feb 25, 2023 Class A Common Stock 569 Direct F7, F14
holding SBAC Performance Restricted Stock Units 569 Feb 25, 2023 Class A Common Stock 569 Direct F7, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 25, 2023, 176 of the Reporting Person's restricted share units were settled for an equal number of shares of Class A Common Stock.
F2 Represents shares issued in connection with the vesting of performance restricted share units. The Compensation Committee of the Issuer's Board of Directors determined achievement of the applicable AFFO performance metric at 200%.
F3 Represents shares issued in connection with the vesting of performance restricted share units. The Compensation Committee of the Issuer's Board of Directors determined achievement of the applicable TSR performance metric at 92.5%. The remaining performance restricted stock units were forfeited.
F4 Shares withheld for payment of tax liability.
F5 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F6 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).
F7 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F8 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.
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 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).
F11 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.
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 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).
F14 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.
F15 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.