Jeffrey Stoops - 04 Mar 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Footnote F1

Includes an aggregate of 101.23 shares acquired on March 1, 2024 pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.

Footnote F2

Shares withheld for payment of tax liability.

Footnote F3

As previously reported on a Form 4, the Reporting Person was awarded 10,118 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 20,236 shares of Class A Common Stock became issuable to the Reporting Person.

Footnote F4

These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.

Footnote F5

These stock 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: 3,372 vested on the first anniversary of the grant date and 3,373 vest on each of the second and third anniversaries of the grant date (March 4, 2021).

Footnote F8

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

Footnote F9

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 period.

Footnote F10

These restricted stock units vest in accordance with the following schedule: 2,964 vested on the first anniversary of the grant date and 2,965 vest on each of the second and third anniversaries of the grant date (March 4, 2022).

Footnote 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 period.

Footnote F12

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 period.

Footnote F13

These restricted stock units vest in accordance with the following schedule: 3,468 vest on the first through third anniversaries of the grant date (March 6, 2023).

Footnote 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 period.

Footnote F15

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 period.