JACK LANGER - 01 May 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Director
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 01 May 2023
Net transactions value: -$55,118
Form type: 4
Filing time: 03 May 2023, 17:19:32 UTC
Previous filing: 06 Apr 2023
Next filing: 30 May 2023
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		+190	+3.1%		6,237	01 May 2023	Direct	F1
transaction	SBAC	Class A Common Stock	Options Exercise		+206	+3.3%		6,443	01 May 2023	Direct	F2
transaction	SBAC	Class A Common Stock	Options Exercise		+175	+2.7%		6,618	01 May 2023	Direct	F3
transaction	SBAC	Class A Common Stock	Tax liability	$55,118	-211	-3.2%	$260.89	6,407	01 May 2023	Direct	F4
holding	SBAC	Class A Common Stock						19,999	01 May 2023	By Trust	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		-190	-100%		0	01 May 2023	Class A Common Stock	190		Direct	F1, F7, F8
transaction	SBAC	Restricted Stock Units	Options Exercise		-206	-50%		207	01 May 2023	Class A Common Stock	206		Direct	F2, F7, F9
transaction	SBAC	Restricted Stock Units	Options Exercise		-175	-33%		350	01 May 2023	Class A Common Stock	175		Direct	F3, F7, F10
holding	SBAC	Stock Options (Right to Buy)						1,977	01 May 2023	Class A Common Stock	1,977	$132.00	Direct	F6
holding	SBAC	Stock Options (Right to Buy)						1,411	01 May 2023	Class A Common Stock	1,411	$157.51	Direct	F6
holding	SBAC	Stock Options (Right to Buy)						1,501	01 May 2023	Class A Common Stock	1,501	$212.31	Direct	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	On May 1, 2023, 190 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F2	On May 1, 2023, 206 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F3	On May 1, 2023, 175 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F4	Shares withheld for tax liability.
F5	The securities are held by The Jack Langer 2012 Irrevocable Family Trust for estate planning purposes. The trustee of the trust is the reporting person's spouse. The reporting person disclaims beneficial ownership of these securities, 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: 190 vested on May 1, 2021; 190 vested on May 1, 2022; and 190 vested on May 1, 2023.
F9	These restricted stock units vest in accordance with the following schedule: 206 vested on May 1, 2022; 206 vested on May 1, 2023; and 207 vest on May 1, 2024.
F10	These restricted stock units vest in accordance with the following schedule: 175 vested on May 1, 2023; 175 vest on May 1, 2024; and 175 vest on May 1, 2025.