Brian D. Lazarus - Mar 4, 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Mar 4, 2024
Transactions value $
-$388,873
Form type
4
Date filed
3/6/2024, 08:30 PM
Previous filing
Dec 15, 2023
Next filing
Mar 8, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +542 +7.52% $0.00 7.75K Mar 4, 2024 Direct F1, F2
transaction SBAC Class A Common Stock Tax liability -$44.4K -213 -2.75% $208.29 7.54K Mar 4, 2024 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +3.25K +43.08% $0.00 10.8K Mar 4, 2024 Direct F4
transaction SBAC Class A Common Stock Tax liability -$271K -1.3K -12.07% $208.29 9.49K Mar 4, 2024 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +406 +4.28% $0.00 9.89K Mar 4, 2024 Direct F5
transaction SBAC Class A Common Stock Tax liability -$33.3K -160 -1.62% $208.29 9.73K Mar 4, 2024 Direct F3
transaction SBAC Class A Common Stock Options Exercise $0 +488 +5.01% $0.00 10.2K Mar 4, 2024 Direct
transaction SBAC Class A Common Stock Tax liability -$40K -192 -1.88% $208.29 10K Mar 4, 2024 Direct F3
holding SBAC Class A Common Stock 20.2K Mar 4, 2024 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 Restricted Stock Units Options Exercise $0 -542 -100% $0.00* 0 Mar 4, 2024 Class A Common Stock 542 Direct F9, F10
transaction SBAC Performance Restricted Stock Units Options Exercise $0 -1.62K -100% $0.00* 0 Mar 4, 2024 Class A Common Stock 1.62K Direct F4, F11, F12
transaction SBAC Performance Restricted Stock Units Options Exercise $0 -406 -100% $0.00* 0 Mar 4, 2024 Class A Common Stock 406 Direct F5, F11, F13
transaction SBAC Restricted Stock Units Options Exercise $0 -488 -50% $0.00 488 Mar 4, 2024 Class A Common Stock 488 Direct F9, F14
holding SBAC Stock Options (Right to Buy) 23.5K Mar 4, 2024 Class A Common Stock 23.5K $182.30 Direct F8
holding SBAC Performance Restricted Stock Units 1.46K Mar 4, 2024 Class A Common Stock 1.46K Direct F11, F15
holding SBAC Performance Restricted Stock Units 1.46K Mar 4, 2024 Class A Common Stock 1.46K Direct F11, F16
holding SBAC Restricted Stock Units 1.72K Mar 4, 2024 Class A Common Stock 1.72K Direct F9, F17
holding SBAC Performance Restricted Stock Units 1.72K Mar 4, 2024 Class A Common Stock 1.72K Direct F11, F18
holding SBAC Performance Restricted Stock Units 1.72K Mar 4, 2024 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 Includes 25.087 shares acquired through a dividend reinvestment plan.
F2 Includes an aggregate of 101.23 shares acquired on March 1, 2024 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F3 Shares withheld for the payment of tax liability.
F4 As previously reported on a Form 4, the Reporting Person was awarded 1,624 performance restricted stock units (PSUs) on March 4, 2021 which were subject to increase or decrease based the results of the performance condition. On March 4, 2024, these PSUs vested at 200% of target based on the results of the performance condition, such that 3,248 shares of Class A Common Stock became issuable to the Reporting Person.
F5 As previously reported on a Form 4, the Reporting Person was awarded 1,624 performance restricted stock units (PSUs) on March 4, 2021 which were subject to increase or decrease based the results of the performance condition. On March 4, 2024, these PSUs vested at 25% of target.
F6 Includes 71.438 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 stock options are fully vested and 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 The 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 The 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 The 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 The 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 The 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 The 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.