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

Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Mar 4, 2023
Transactions value $
-$946,437
Form type
4
Date filed
3/7/2023, 06:02 PM
Previous filing
Feb 28, 2023
Next filing
Nov 14, 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 +3.37K +1.28% $0.00 266K Mar 4, 2023 Direct F1, F2
transaction SBAC Class A Common Stock Tax liability -$325K -1.25K -0.47% $260.35 265K Mar 6, 2023 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +2.96K +1.12% $0.00 268K Mar 4, 2023 Direct F4
transaction SBAC Class A Common Stock Tax liability -$286K -1.1K -0.41% $260.35 267K Mar 6, 2023 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +3.49K +1.31% $0.00 270K Mar 6, 2023 Direct F5
transaction SBAC Class A Common Stock Tax liability -$336K -1.29K -0.48% $260.35 269K Mar 6, 2023 Direct F3
holding SBAC Class A Common Stock 83.7K Mar 4, 2023 By LLC F6
holding SBAC Class A Common Stock 260K Mar 4, 2023 By Limited Partnership F7

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 -3.49K -100% 0 Mar 6, 2023 Class A Common Stock 3.49K Direct F5, F9, F10
transaction SBAC Restricted Stock Units Options Exercise -3.37K -50% 3.37K Mar 4, 2023 Class A Common Stock 3.37K Direct F1, F9, F11
transaction SBAC Restricted Stock Units Options Exercise -2.96K -33.33% 5.93K Mar 4, 2023 Class A Common Stock 2.96K Direct F4, F9, F15
transaction SBAC Restricted Stock Units Award $0 +10.4K $0.00 10.4K Mar 6, 2023 Class A Common Stock 10.4K Direct F9, F18
transaction SBAC Performance Restricted Stock Units Award $0 +10.4K $0.00 10.4K Mar 6, 2023 Class A Common Stock 10.4K Direct F12, F19
transaction SBAC Performance Restricted Stock Units Award $0 +10.4K $0.00 10.4K Mar 6, 2023 Class A Common Stock 10.4K Direct F12, F20
holding SBAC Stock Options (Right to Buy) 138K Mar 4, 2023 Class A Common Stock 138K $156.50 Direct F8
holding SBAC Stock Options (Right to Buy) 149K Mar 4, 2023 Class A Common Stock 149K $182.30 Direct F8
holding SBAC Performance Restricted Stock Units 10.1K Mar 4, 2023 Class A Common Stock 10.1K Direct F12, F13
holding SBAC Performance Restricted Stock Units 10.1K Mar 4, 2023 Class A Common Stock 10.1K Direct F12, F14
holding SBAC Performance Restricted Stock Units 8.89K Mar 4, 2023 Class A Common Stock 8.89K Direct F12, F16
holding SBAC Performance Restricted Stock Units 8.89K Mar 4, 2023 Class A Common Stock 8.89K Direct F12, F17
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 On March 4, 2023, 3,373 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F2 Includes an aggregate of 83.528 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, 2,964 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, 3,488 shares of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F6 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.
F7 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.
F8 These options are fully vested and exercisable.
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: 3,372 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).
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 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.
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 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).
F16 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.
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 restricted stock units vest in accordance with the following schedule: 3,468 vest on the first through third anniversaries of the grant date (March 6, 2023).
F19 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.
F20 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.