Joshua Koenig - Nov 27, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Executive VP/General Counsel
Signature: /s/ Joshua Koenig
Stock symbol: SBAC
Transactions as of: Nov 27, 2023
Transactions value $: -$304,088
Form type: 4
Date filed: 11/29/2023, 05:00 PM
Previous filing: Mar 7, 2023
Next filing: Mar 6, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Sale	-$304K	-1.28K	-19.75%	$238.50	5.18K	Nov 27, 2023	Direct

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
holding	SBAC	Stock Options (Right to Buy)						2.72K	Nov 27, 2023	Class A Common Stock	2.72K	$156.50	Direct	F1
holding	SBAC	Stock Options (Right to Buy)						9.12K	Nov 27, 2023	Class A Common Stock	9.12K	$182.30	Direct	F1
holding	SBAC	Restricted Stock Units						229	Nov 27, 2023	Class A Common Stock	229		Direct	F2, F3
holding	SBAC	Performance Restricted Stock Units						687	Nov 27, 2023	Class A Common Stock	687		Direct	F4, F5
holding	SBAC	Performance Restricted Stock Units						687	Nov 27, 2023	Class A Common Stock	687		Direct	F4, F6
holding	SBAC	Restricted Stock Units						431	Nov 27, 2023	Class A Common Stock	431		Direct	F2, F7
holding	SBAC	Performance Restricted Stock Units						646	Nov 27, 2023	Class A Common Stock	646		Direct	F4, F8
holding	SBAC	Performance Restricted Stock Units						646	Nov 27, 2023	Class A Common Stock	646		Direct	F4, F9
holding	SBAC	Restricted Stock Units						1.97K	Nov 27, 2023	Class A Common Stock	1.97K		Direct	F2, F10
holding	SBAC	Performance Restricted Stock Units						1.97K	Nov 27, 2023	Class A Common Stock	1.97K		Direct	F4, F11
holding	SBAC	Performance Restricted Stock Units						1.97K	Nov 27, 2023	Class A Common Stock	1.97K		Direct	F4, F12

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

Explanation of Responses:

Id	Content
F1	These options are immediately exercisable.
F2	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3	These restricted stock units vest in accordance with the following schedule: 229 vest on the first through third anniversaries of the grant date (March 4, 2021).
F4	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5	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.
F6	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.
F7	These restricted stock units vest in accordance with the following schedule: 215 vest on the first and second anniversaries of the grant date and 216 vest on the third anniversary of the grant date (March 4, 2022).
F8	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.
F9	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.
F10	These restricted stock units vest in accordance with the following schedule: 655 vest on the first through third anniversaries of the grant date (March 6, 2023).
F11	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.
F12	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.