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

Role
EVP Tech., Strat. & New Bus.
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Feb 25, 2023
Transactions value $
-$471,641
Form type
4
Date filed
2/28/2023, 08:27 PM
Previous filing
Mar 8, 2022
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 +472 +16.56% $0.00 3.32K Feb 25, 2023 Direct F1, F2
transaction SBAC Class A Common Stock Options Exercise $0 +2.83K +85.11% $0.00 6.15K Feb 25, 2023 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +1.31K +21.26% $0.00 7.46K Feb 25, 2023 Direct F4
transaction SBAC Class A Common Stock Tax liability -$472K -1.83K -24.53% $257.82 5.63K Feb 25, 2023 Direct F5

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 -472 -100% 0 Feb 25, 2023 Class A Common Stock 472 Direct F1, F7, F9
transaction SBAC Performance Restricted Stock Units Options Exercise -1.41K -100% 0 Feb 25, 2023 Class A Common Stock 1.41K Direct F3, F10, F11
transaction SBAC Performance Restricted Stock Units Options Exercise -1.41K -100% 0 Feb 25, 2023 Class A Common Stock 1.41K Direct F4, F10, F12
holding SBAC Stock Options (Right to Buy) 19.2K Feb 25, 2023 Class A Common Stock 19.2K $182.30 Direct F6
holding SBAC Restricted Stock Units 472 Feb 25, 2023 Class A Common Stock 472 Direct F7, F8
holding SBAC Restricted Stock Units 1K Feb 25, 2023 Class A Common Stock 1K Direct F7, F13
holding SBAC Performance Restricted Stock Units 1.5K Feb 25, 2023 Class A Common Stock 1.5K Direct F10, F14
holding SBAC Performance Restricted Stock Units 1.5K Feb 25, 2023 Class A Common Stock 1.5K Direct F10, F15
holding SBAC Restricted Stock Units 1.37K Feb 25, 2023 Class A Common Stock 1.37K Direct F7, F16
holding SBAC Performance Restricted Stock Units 1.37K Feb 25, 2023 Class A Common Stock 1.37K Direct F10, F17
holding SBAC Performance Restricted Stock Units 1.37K Feb 25, 2023 Class A Common Stock 1.37K 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, 472 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F2 Includes 21.343 shares acquired through a dividend reinvestment plan.
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 AFFO performance metric at 200%.
F4 Represents shares issued in connection with the vesting of performance restricted share units. The Compensation Committee of the Issue's Board of Directors determined achievement of the applicable TSR performance metric at 92.5%. The remaining performance restricted stock units were forfeited.
F5 Shares withheld for payment of tax liability.
F6 These options vest in accordance with the following schedule: 5,067 vest on each of the first through third anniversaries of the grant date and 5,068 vest on the fourth anniversary 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: 471 vest on each of the first through third anniversaries of the grant date and 472 vest on the fourth anniversary of the grant date (March 6, 2019).
F9 These restricted stock units vest in accordance with the following schedule: 471 vest on the first and second anniversaries of the grant date and 472 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: 499 vest on the first anniversary of the grant date and 500 vest on each of the second and third anniversaries 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: 455 vest on each of the first through 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.