Steven E. Bernstein - 05 Dec 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Reporting relationship: Director, Chairman
Issuer ticker: SBAC
Reported as of: 05 Dec 2023
Net transaction value: -$13,376,977
SEC form: 4
Accepted by SEC: 07 Dec 2023, 18:30:08 UTC
Prior SEC filing: 11 Jul 2023
Next SEC filing: 01 May 2024
Source filing: View source filing
Reporting owner signature: /s/ Joshua Koenig, Attorney-in-Fact

Key filing fact

Steven E. Bernstein filed Form 4 for SBA COMMUNICATIONS CORP (SBAC) on 07 Dec 2023.

Key facts

This page summarizes Steven E. Bernstein's Form 4 filing for SBA COMMUNICATIONS CORP (SBAC).
3 reported transactions and 6 derivative rows are listed below.
Accepted by SEC: 07 Dec 2023, 18:30.

Change

Previous filing in this sequence was filed on 11 Jul 2023.
Current net transaction value: -$13,376,977.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SBAC transaction

Class A Common Stock

Sale

Transaction value: $1,853,379
Shares: -7,300
Change %: -72%
Price: $253.89
Shares after: 2,903
Date: 06 Dec 2023
Ownership: Direct
Footnotes: F1, F2

SBAC transaction

Class A Common Stock

Sale

Transaction value: $11,500,293
Shares: -45,983
Change %: -45%
Price: $250.10
Shares after: 56,407
Date: 05 Dec 2023
Ownership: See Footnote
Footnotes: F3, F4

SBAC transaction

Class A Common Stock

Sale

Transaction value: $23,305
Shares: -93
Change %: -0.16%
Price: $250.59
Shares after: 56,314
Date: 05 Dec 2023
Ownership: See Footnote
Footnotes: F4

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SBAC holding Derivative

Stock Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,977
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,977
Exercise price: $132.00
Footnotes: F5

SBAC holding Derivative

Stock Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,411
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,411
Exercise price: $157.51
Footnotes: F5

SBAC holding Derivative

Stock Options (Right to Buy)

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,501
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,501
Exercise price: $212.31
Footnotes: F5

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 207
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 207
Exercise price
Footnotes: F6, F7

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 350
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 350
Exercise price
Footnotes: F6, F8

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 743
Date: 05 Dec 2023
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 743
Exercise price
Footnotes: F6, F9

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 9 footnotes

Footnote F1

Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $253.39 to $254.25 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

Footnote F2

Includes .002 shares acquired through a dividend reinvestment plan.

Footnote F3

Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $249.55 to $250.52 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

Footnote F4

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.

Footnote F5

These options are fully vested and exercisable.

Footnote F6

Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

Footnote F7

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.

Footnote F8

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.

Footnote F9

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.

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