Brendan Thomas Cavanagh - 04 Mar 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
PRESIDENT AND CEO, Director
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
04 Mar 2024
Net transactions value
-$836,568
Form type
4
Filing time
06 Mar 2024, 20:30:32 UTC
Previous filing
07 Mar 2023
Next filing
08 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +1,291 +3.1% $0.000000 43,138 04 Mar 2024 Direct
transaction SBAC Class A Common Stock Tax liability $105,813 -508 -1.2% $208.29 42,630 04 Mar 2024 Direct F1
transaction SBAC Class A Common Stock Options Exercise $0 +7,744 +18% $0.000000 50,374 04 Mar 2024 Direct F2
transaction SBAC Class A Common Stock Tax liability $636,089 -3,054 -6.1% $208.29 47,320 04 Mar 2024 Direct F1
transaction SBAC Class A Common Stock Options Exercise $0 +1,155 +2.4% $0.000000 48,475 04 Mar 2024 Direct
transaction SBAC Class A Common Stock Tax liability $94,666 -454 -0.94% $208.29 48,020 04 Mar 2024 Direct F1
holding SBAC Class A Common Stock 19,052 04 Mar 2024 By LLC F3

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 -1,291 -100% $0.000000* 0 04 Mar 2024 Class A Common Stock 1,291 Direct F5, F6
transaction SBAC Performance Restricted Stock Units Options Exercise $0 -7,744 -100% $0.000000* 0 04 Mar 2024 Class A Common Stock 7,744 Direct F2, F7, F8
transaction SBAC Restricted Stock Units Options Exercise $0 -1,155 -100% $0.000000* 0 04 Mar 2024 Class A Common Stock 1,155 Direct F5, F9
holding SBAC Stock Options (Right to Buy) 50,212 04 Mar 2024 Class A Common Stock 50,212 $156.50 Direct F4
holding SBAC Stock Options (Right to Buy) 55,741 04 Mar 2024 Class A Common Stock 55,741 $182.30 Direct F4
holding SBAC Performance Restricted Stock Units 3,465 04 Mar 2024 Class A Common Stock 3,465 Direct F7, F10
holding SBAC Performance Restricted Stock Units 3,465 04 Mar 2024 Class A Common Stock 3,465 Direct F7, F11
holding SBAC Restricted Stock Units 4,335 04 Mar 2024 Class A Common Stock 4,335 Direct F5, F12
holding SBAC Performance Restricted Stock Units 4,335 04 Mar 2024 Class A Common Stock 4,335 Direct F7, F13
holding SBAC Performance Restricted Stock Units 4,335 04 Mar 2024 Class A Common Stock 4,335 Direct F7, F14
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld for payment of tax liability.
F2 As previously reported on a Form 4, the Reporting Person was awarded 3,872 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 7,744 shares of Class A Common Stock became issuable to the Reporting Person.
F3 These shares are owned by Cavanagh Investments, LLC. The Reporting Person is the manager of Cavanagh Investments, LLC and a trust for the benefit of the Reporting Person's spouse owns all of the equity interests in Cavanagh Investments, LLC. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.
F4 These stock options are fully vested and exercisable.
F5 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F6 These restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vest on the second and third anniversaries of the grant date (March 4, 2021).
F7 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F8 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 conditions.
F9 These restricted stock units vest in accordance with the following schedule: 1,155 vest on the first through third anniversaries of the grant date (March 4, 2022)
F10 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 conditions.
F11 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 conditions.
F12 These restricted stock units units vest in accordance with the following schedule: 1,445 vet on the first through third anniversaries of the grant date (March 6, 2023).
F13 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 conditions.
F14 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 conditions.