Steven E. Bernstein - May 25, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Director, Chairman
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Stock symbol: SBAC
Transactions as of: May 25, 2023
Transactions value $: $0
Form type: 4
Date filed: 5/30/2023, 06:18 PM
Previous filing: May 3, 2023
Next filing: Jun 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	SBAC	Class A Common Stock						10.2K	May 25, 2023	Direct
holding	SBAC	Class A Common Stock						102K	May 25, 2023	See Footnote	F1

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	Award	$0	+743		$0.00	743	May 25, 2023	Class A Common Stock	743		Direct	F3, F6
holding	SBAC	Stock Options (Right to Buy)						1.98K	May 25, 2023	Class A Common Stock	1.98K	$132.00	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						1.41K	May 25, 2023	Class A Common Stock	1.41K	$157.51	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						1.5K	May 25, 2023	Class A Common Stock	1.5K	$212.31	Direct	F2
holding	SBAC	Restricted Stock Units						207	May 25, 2023	Class A Common Stock	207		Direct	F3, F4
holding	SBAC	Restricted Stock Units						350	May 25, 2023	Class A Common Stock	350		Direct	F3, F5

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

Explanation of Responses:

Id	Content
F1	These shares are held by Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.
F2	These options are fully vested and exercisable.
F3	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F4	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.
F5	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.
F6	These restricted stock units vest in accordance with the following schedule: 247 vest on May 1, 2024; 248 vest on May 1, 2025; and 248 vest on May 1, 2026.