Brian D. Lazarus - Dec 13, 2023 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Dec 13, 2023
Transactions value $
-$1,913,224
Form type
4
Date filed
12/15/2023, 06:30 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 Options Exercise $3.22M +20.6K +290.82% $156.50 27.7K Dec 13, 2023 Direct F1, F2
transaction SBAC Class A Common Stock Sale -$3.46M -13.9K -50.16% $248.77 13.8K Dec 13, 2023 Direct F3
transaction SBAC Class A Common Stock Sale -$979K -3.92K -28.37% $250.12 9.89K Dec 13, 2023 Direct F4
transaction SBAC Class A Common Stock Sale -$703K -2.8K -28.33% $251.17 7.09K Dec 13, 2023 Direct F5
holding SBAC Class A Common Stock 20.2K Dec 13, 2023 By GRAT F6, F7

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 Stock Options (Right to Buy) Options Exercise $0 -20.6K -100% $0.00* 0 Dec 13, 2023 Class A Common Stock 20.6K $156.50 Direct F8
holding SBAC Stock Options (Right to Buy) 23.5K Dec 13, 2023 Class A Common Stock 23.5K $182.30 Direct F8
holding SBAC Restricted Stock Units 542 Dec 13, 2023 Class A Common Stock 542 Direct F9, F10
holding SBAC Performance Restricted Stock Units 1.62K Dec 13, 2023 Class A Common Stock 1.62K Direct F11, F12
holding SBAC Performance Restricted Stock Units 1.62K Dec 13, 2023 Class A Common Stock 1.62K Direct F11, F13
holding SBAC Restricted Stock Units 976 Dec 13, 2023 Class A Common Stock 976 Direct F9, F14
holding SBAC Performance Restricted Stock Units 1.46K Dec 13, 2023 Class A Common Stock 1.46K Direct F11, F15
holding SBAC Performance Restricted Stock Units 1.46K Dec 13, 2023 Class A Common Stock 1.46K Direct F11, F16
holding SBAC Restricted Stock Units 1.72K Dec 13, 2023 Class A Common Stock 1.72K Direct F9, F17
holding SBAC Performance Restricted Stock Units 1.72K Dec 13, 2023 Class A Common Stock 1.72K Direct F11, F18
holding SBAC Performance Restricted Stock Units 1.72K Dec 13, 2023 Class A Common Stock 1.72K Direct F11, F19
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Reflects shares previously held directly by the Reporting Person which were contributed to the Reporting Person's GRAT (defined below).
F2 Includes 77.062 shares acquired through a dividend reinvestment plan.
F3 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $248.04 to $248.98 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.
F4 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $249.48 to $250.43 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.
F5 Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $250.59 to $251.42 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.
F6 Includes 219.876 shares acquired through a dividend reinvestment plan.
F7 These shares are held by the Reporting Person's grantor retained annuity trust ("GRAT"), of which the Reporting Person is the trustee and annuitant.
F8 These options are immediately exercisable.
F9 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F10 These restricted stock units vest in accordance with the following schedule: 541 vest on each of the first and second anniversaries of the grant date and 542 vest on the third anniversary of the grant date (March 4, 2021).
F11 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
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 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.
F14 These restricted stock units vest in accordance with the following schedule: 487 vest on the first anniversary of the grant date and 488 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
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 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.
F17 These restricted stock units vest in accordance with the following schedule: 572 vest on the first and second anniversaries of the grant date and 573 vest on the third anniversary of the grant date (March 6, 2023).
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.
F19 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.