Dipan D. Patel - Mar 4, 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
Mar 4, 2023
Transactions value $
-$146,192
Form type
4
Date filed
3/7/2023, 06:01 PM
Previous filing
Feb 28, 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 +500 +8.81% $0.00 6.17K Mar 4, 2023 Direct F1, F2
transaction SBAC Class A Common Stock Tax liability -$51.2K -197 -3.19% $260.35 5.98K Mar 6, 2023 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +455 +7.61% $0.00 6.43K Mar 4, 2023 Direct F4
transaction SBAC Class A Common Stock Tax liability -$46.6K -179 -2.78% $260.35 6.25K Mar 6, 2023 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +472 +7.55% $0.00 6.73K Mar 6, 2023 Direct F5
transaction SBAC Class A Common Stock Tax liability -$48.4K -186 -2.76% $260.35 6.54K Mar 6, 2023 Direct F3

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 Mar 6, 2023 Class A Common Stock 472 Direct F5, F7, F8
transaction SBAC Restricted Stock Units Options Exercise -500 -50% 500 Mar 4, 2023 Class A Common Stock 500 Direct F1, F7, F9
transaction SBAC Restricted Stock Units Options Exercise -455 -33.33% 910 Mar 4, 2023 Class A Common Stock 455 Direct F4, F7, F13
transaction SBAC Restricted Stock Units Award $0 +1.6K $0.00 1.6K Mar 6, 2023 Class A Common Stock 1.6K Direct F7, F16
transaction SBAC Performance Restricted Stock Units Award $0 +1.6K $0.00 1.6K Mar 6, 2023 Class A Common Stock 1.6K Direct F10, F17
transaction SBAC Performance Restricted Stock Units Award $0 +1.6K $0.00 1.6K Mar 6, 2023 Class A Common Stock 1.6K Direct F10, F18
holding SBAC Stock Options (Right to Buy) 19.2K Mar 4, 2023 Class A Common Stock 19.2K $182.30 Direct F6
holding SBAC Performance Restricted Stock Units 1.5K Mar 4, 2023 Class A Common Stock 1.5K Direct F10, F11
holding SBAC Performance Restricted Stock Units 1.5K Mar 4, 2023 Class A Common Stock 1.5K Direct F10, F12
holding SBAC Performance Restricted Stock Units 1.37K Mar 4, 2023 Class A Common Stock 1.37K Direct F10, F14
holding SBAC Performance Restricted Stock Units 1.37K Mar 4, 2023 Class A Common Stock 1.37K Direct F10, F15
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 4, 2023, 500 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F2 Includes 45.267 shares acquired on February 28, 2023 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F3 Shares withheld for payment of tax liability.
F4 On March 4, 2023, 455 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F5 On March 6, 2023, 472 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F6 These options are fully vested and exercisable.
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: 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).
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 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: 455 vest on each of the first through 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.
F16 These restricted stock units vest in accordance with the following schedule: 531 vest on the first anniversary of the grant date and 532 vest on each of the second and third anniversaries of the grant date (March 6, 2023).
F17 These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 6, 2026, 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 6, 2026, 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.