Brian D. Lazarus - 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 $
-$161,355
Form type
4
Date filed
3/7/2023, 06:03 PM
Previous filing
Feb 28, 2023
Next filing
Dec 15, 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 +541 +7.99% $0.00 7.31K Mar 4, 2023 Direct F1, F2, F3
transaction SBAC Class A Common Stock Tax liability -$55.4K -213 -2.91% $260.35 7.1K Mar 6, 2023 Direct F4
transaction SBAC Class A Common Stock Options Exercise $0 +487 +6.86% $0.00 7.59K Mar 4, 2023 Direct F5
transaction SBAC Class A Common Stock Tax liability -$49.9K -192 -2.53% $260.35 7.39K Mar 6, 2023 Direct F4
transaction SBAC Class A Common Stock Options Exercise $0 +547 +7.4% $0.00 7.94K Mar 6, 2023 Direct F6
transaction SBAC Class A Common Stock Tax liability -$56K -215 -2.71% $260.35 7.73K Mar 6, 2023 Direct F4
holding SBAC Class A Common Stock 19.2K Mar 4, 2023 By GRAT 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 -547 -100% 0 Mar 6, 2023 Class A Common Stock 547 Direct F6, F9, F10
transaction SBAC Restricted Stock Units Options Exercise -541 -49.95% 542 Mar 4, 2023 Class A Common Stock 541 Direct F1, F9, F11
transaction SBAC Restricted Stock Units Options Exercise -487 -33.29% 976 Mar 4, 2023 Class A Common Stock 487 Direct F5, F9, F15
transaction SBAC Restricted Stock Units Award $0 +1.72K $0.00 1.72K Mar 6, 2023 Class A Common Stock 1.72K Direct F9, F18
transaction SBAC Performance Restricted Stock Units Award $0 +1.72K $0.00 1.72K Mar 6, 2023 Class A Common Stock 1.72K Direct F12, F19
transaction SBAC Performance Restricted Stock Units Award $0 +1.72K $0.00 1.72K Mar 6, 2023 Class A Common Stock 1.72K Direct F12, F20
holding SBAC Stock Options (Right to Buy) 20.6K Mar 4, 2023 Class A Common Stock 20.6K $156.50 Direct F8
holding SBAC Stock Options (Right to Buy) 23.5K Mar 4, 2023 Class A Common Stock 23.5K $182.30 Direct F8
holding SBAC Performance Restricted Stock Units 1.62K Mar 4, 2023 Class A Common Stock 1.62K Direct F12, F13
holding SBAC Performance Restricted Stock Units 1.62K Mar 4, 2023 Class A Common Stock 1.62K Direct F12, F14
holding SBAC Performance Restricted Stock Units 1.46K Mar 4, 2023 Class A Common Stock 1.46K Direct F12, F16
holding SBAC Performance Restricted Stock Units 1.46K Mar 4, 2023 Class A Common Stock 1.46K 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, 541 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 Reflects shares previously held directly by the Reporting Person which were contributed to the Reporting Person's GRAT (defined below).
F4 Shares withheld for payment of tax liability.
F5 On March 4, 2023, 487 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F6 On March 6, 2023, 547 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F7 These shares are held by the Reporting Person's grantor retained annuity trust ("GRAT"), of which the Reporting Person is the trustee and annuitant.
F8 These options are immediately 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: 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).
F11 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).
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: 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).
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: 572 vest on the first and second anniversaries of the grant date and 573 vest on the third anniversary 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.