Brendan Thomas Cavanagh - 04 Mar 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
Executive Vice President & CFO
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
04 Mar 2023
Net transactions value
-$383,359
Form type
4
Filing time
07 Mar 2023, 18:04:03 UTC
Previous filing
28 Feb 2023
Next filing
06 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +1,291 +3.3% $0.000000 40,868 04 Mar 2023 Direct F1
transaction SBAC Class A Common Stock Tax liability $132,260 -508 -1.2% $260.35 40,360 06 Mar 2023 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +1,155 +2.9% $0.000000 41,515 04 Mar 2023 Direct F3
transaction SBAC Class A Common Stock Tax liability $118,327 -454 -1.1% $260.35 41,061 06 Mar 2023 Direct F2
transaction SBAC Class A Common Stock Options Exercise $0 +1,296 +3.2% $0.000000 42,357 06 Mar 2023 Direct F4
transaction SBAC Class A Common Stock Tax liability $132,772 -510 -1.2% $260.35 41,847 06 Mar 2023 Direct F2
holding SBAC Class A Common Stock 19,052 04 Mar 2023 By LLC 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 -1,296 -100% 0 06 Mar 2023 Class A Common Stock 1,296 Direct F4, F7, F8
transaction SBAC Restricted Stock Units Options Exercise -1,291 -50% 1,291 04 Mar 2023 Class A Common Stock 1,291 Direct F1, F7, F9
transaction SBAC Restricted Stock Units Options Exercise -1,155 -33% 2,310 04 Mar 2023 Class A Common Stock 1,155 Direct F3, F7, F13
transaction SBAC Restricted Stock Units Award $0 +4,335 $0.000000 4,335 06 Mar 2023 Class A Common Stock 4,335 Direct F7, F16
transaction SBAC Performance Restricted Stock Units Award $0 +4,335 $0.000000 4,335 06 Mar 2023 Class A Common Stock 4,335 Direct F10, F17
transaction SBAC Performance Restricted Award $0 +4,335 $0.000000 4,335 06 Mar 2023 Class A Common Stock 4,335 Direct F10, F18
holding SBAC Stock Options (Right to Buy) 50,212 04 Mar 2023 Class A Common Stock 50,212 $156.50 Direct F6
holding SBAC Stock Options (Right to Buy) 55,741 04 Mar 2023 Class A Common Stock 55,741 $182.30 Direct F6
holding SBAC Performance Restricted Stock Units 3,872 04 Mar 2023 Class A Common Stock 3,872 Direct F10, F11
holding SBAC Performance Restricted Stock Units 3,872 04 Mar 2023 Class A Common Stock 3,872 Direct F10, F12
holding SBAC Performance Restricted Stock Units 3,465 04 Mar 2023 Class A Common Stock 3,465 Direct F10, F14
holding SBAC Performance Restricted Stock Units 3,465 04 Mar 2023 Class A Common Stock 3,465 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, 1,291 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F2 Shares withheld for payment of tax liability.
F3 On March 6, 2023, 1,155 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F4 On March 6, 2023, 1,296 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
F5 These shares are owned by Cavanagh Investments, LLC. The Reporting Person is the manager of Cavanagh Investments, LLC and a trust for the benefit of the Reporting Person's spouse owns all of the equity interests in Cavanagh Investments, LLC. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.
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: 1,296 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).
F9 These restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vests 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: 1,155 vest on 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: 1,445 vest on the first through 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.