Brian D. Lazarus - Feb 25, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
SVP & Chief Accounting Officer
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Feb 25, 2023
Transactions value $
-$518,777
Form type
4
Date filed
2/28/2023, 08:26 PM
Previous filing
Feb 7, 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 +519 +2.27% $0.00 23.4K Feb 25, 2023 Direct F1
transaction SBAC Class A Common Stock Options Exercise $0 +3.11K +13.3% $0.00 26.5K Feb 25, 2023 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +1.44K +5.43% $0.00 27.9K Feb 25, 2023 Direct F3
transaction SBAC Class A Common Stock Tax liability -$519K -2.01K -7.2% $257.82 25.9K 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 -519 -100% 0 Feb 25, 2023 Class A Common Stock 519 Direct F1, F7, F9
transaction SBAC Performance Restricted Stock Units Options Exercise -1.56K -100% 0 Feb 25, 2023 Class A Common Stock 1.56K Direct F2, F10, F11
transaction SBAC Performance Restricted Stock Units Options Exercise -1.56K -100% 0 Feb 25, 2023 Class A Common Stock 1.56K Direct F3, F10, F12
holding SBAC Stock Options (Right to Buy) 20.6K Feb 25, 2023 Class A Common Stock 20.6K $156.50 Direct F5
holding SBAC Stock Options (Right to Buy) 23.5K Feb 25, 2023 Class A Common Stock 23.5K $182.30 Direct F6
holding SBAC Restricted Stock Units 547 Feb 25, 2023 Class A Common Stock 547 Direct F7, F8
holding SBAC Restricted Stock Units 1.08K Feb 25, 2023 Class A Common Stock 1.08K Direct F7, F13
holding SBAC Performance Restricted Stock Units 1.62K Feb 25, 2023 Class A Common Stock 1.62K Direct F10, F14
holding SBAC Performance Restricted Stock Units 1.62K Feb 25, 2023 Class A Common Stock 1.62K Direct F10, F15
holding SBAC Restricted Stock Units 1.46K Feb 25, 2023 Class A Common Stock 1.46K Direct F7, F16
holding SBAC Performance Restricted Stock Units 1.46K Feb 25, 2023 Class A Common Stock 1.46K Direct F10, F17
holding SBAC Performance Restricted Stock Units 1.46K Feb 25, 2023 Class A Common Stock 1.46K Direct F10, F18
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 25, 2023, 519 of the Reporting Person's restricted stock 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 These options are immediately exercisable.
F6 These options vest in accordance with the following schedule: 5,878 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).
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: 546 vest on each of the first and third anniversaries of the grant date and 547 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).
F9 These restricted stock units vest in accordance with the following schedule: 518 vest on the first and second anniversaries of the grant date and 519 vest on the third anniversary of the grant date (February 25, 2020).
F10 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F11 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.
F12 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.
F13 These restricted stock units vest in accordance with the following schedule: 541 vest on each of the first and second anniversaries of the grant date and 542 vest on the third anniversary of the grant date (March 4, 2021).
F14 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.
F15 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.
F16 These restricted stock units vest in accordance with the following schedule: 487 vest on the first anniversary of the grant date and 488 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F17 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.
F18 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.