Jeffrey Stoops - Feb 25, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Feb 25, 2023
Transactions value $
-$3,058,908
Form type
4
Date filed
2/28/2023, 08:31 PM
Previous filing
Feb 10, 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 +3.26K +1.34% $0.00 246K Feb 25, 2023 Direct F1
transaction SBAC Class A Common Stock Options Exercise $0 +19.5K +7.94% $0.00 266K Feb 25, 2023 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +9.04K +3.4% $0.00 275K Feb 25, 2023 Direct F3
transaction SBAC Class A Common Stock Tax liability -$3.06M -11.9K -4.32% $257.82 263K Feb 25, 2023 Direct F4
holding SBAC Class A Common Stock 83.7K Feb 25, 2023 By LLC F5
holding SBAC Class A Common Stock 260K Feb 25, 2023 By Limited Partnership F6

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 -3.26K -100% 0 Feb 25, 2023 Class A Common Stock 3.26K Direct F1, F9, F11
transaction SBAC Performance Restricted Stock Units Options Exercise -9.77K -100% 0 Feb 25, 2023 Class A Common Stock 9.77K Direct F2, F12, F13
transaction SBAC Performance Restricted Stock Units Options Exercise -9.77K -100% 0 Feb 25, 2023 Class A Common Stock 9.77K Direct F3, F12, F14
holding SBAC Stock Options (Right to Buy) 138K Feb 25, 2023 Class A Common Stock 138K $156.50 Direct F7
holding SBAC Stock Options (Right to Buy) 149K Feb 25, 2023 Class A Common Stock 149K $182.30 Direct F8
holding SBAC Restricted Stock Units 3.49K Feb 25, 2023 Class A Common Stock 3.49K Direct F9, F10
holding SBAC Restricted Stock Units 6.75K Feb 25, 2023 Class A Common Stock 6.75K Direct F9, F15
holding SBAC Performance Restricted Stock Units 10.1K Feb 25, 2023 Class A Common Stock 10.1K Direct F12, F16
holding SBAC Performance Restricted Stock Units 10.1K Feb 25, 2023 Class A Common Stock 10.1K Direct F12, F17
holding SBAC Restricted Stock Units 8.89K Feb 25, 2023 Class A Common Stock 8.89K Direct F9, F18
holding SBAC Performance Restricted Stock Units 8.89K Feb 25, 2023 Class A Common Stock 8.89K Direct F12, F19
holding SBAC Performance Restricted Stock Units 8.89K Feb 25, 2023 Class A Common Stock 8.89K Direct F12, F20
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On February 25, 2023, 3,256 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 shares are owned by Calculated Risk SBA Holdings, LLC, a Delaware limited liability company ("CRLLC"). The Reporting Person and his spouse control the manager of CRLLC. The Reporting Person disclaims beneficial ownership of the stock owned by CRLLC except to the extent of his pecuniary interest therein.
F6 These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.
F7 These options are fully vested and exercisable.
F8 These options vest in accordance with the following schedule: 37,498 vest on each of the first and third anniversaries of the grant date and 37,499 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).
F9 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F10 These restricted stock units vest in accordance with the following schedule: 3,487 vest on each of the first and third anniversaries of the grant date and 3,488 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).
F11 These restricted stock units vest in accordance with the following schedule: 3,256 vest on each of the first through third anniversaries of the grant date (February 25, 2020).
F12 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F13 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.
F14 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.
F15 These restricted stock units vest in accordance with the following schedule: 3,372 vest on the first anniversary of the grant date and 3,373 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
F16 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.
F17 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.
F18 These restricted stock units vest in accordance with the following schedule: 2,964 vest on the first anniversary of the grant date and 2,965 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F19 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.
F20 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.