Richard M. Cane - Mar 6, 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EVP; PRES. - INTERNATIONAL
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Stock symbol: SBAC
Transactions as of: Mar 6, 2024
Transactions value $: -$40,842
Form type: 4
Date filed: 3/8/2024, 06:30 PM
Previous 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	$0	+693	+21.24%	$0.00	3.96K	Mar 6, 2024	Direct
transaction	SBAC	Class A Common Stock	Tax liability	-$40.8K	-189	-4.77%	$216.50	3.77K	Mar 6, 2024	Direct	F1

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	-693	-33.3%	$0.00	1.39K	Mar 6, 2024	Class A Common Stock	693		Direct	F2, F7
transaction	SBAC	Restricted Stock Units	Award	$0	+4.63K		$0.00	4.63K	Mar 6, 2024	Class A Common Stock	4.63K		Direct	F2, F10
transaction	SBAC	Performance Restricted Stock Units	Award	$0	+4.63K		$0.00	4.63K	Mar 6, 2024	Class A Common Stock	4.63K		Direct	F4, F11
holding	SBAC	Restricted Stock Units						190	Mar 6, 2024	Class A Common Stock	190		Direct	F2, F3
holding	SBAC	Performance Restricted Stock Units						569	Mar 6, 2024	Class A Common Stock	569		Direct	F4, F5
holding	SBAC	Performance Restricted Stock Units						569	Mar 6, 2024	Class A Common Stock	569		Direct	F4, F6
holding	SBAC	Performance Restricted Stock Units						2.08K	Mar 6, 2024	Class A Common Stock	2.08K		Direct	F4, F8
holding	SBAC	Performance Restricted Stock Units						2.08K	Mar 6, 2024	Class A Common Stock	2.08K		Direct	F4, F9

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Shares withheld for the payment of tax liability.
F2	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3	These restricted stock units vest in accordance with the following schedule: 189 vest on the first anniversary of the grant date and 190 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
F4	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5	These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance conditions.
F6	These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance conditions.
F7	These restricted stock units vest in accordance with the following schedule: 693 vest on the first anniversary of the grant date and 694 vest on each of the second and third anniversaries of the grant date (March 6, 2023).
F8	These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance conditions.
F9	These performance restricted stock units have a three-year performance period and to the extent earned will vest 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 (up to 200%) or decrease based on the results of the performance conditions.
F10	These restricted stock units vest in accordance to the following schedule; 1,543 vest on the first through third anniversaries of the grant date (March 6, 2024).
F11	These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 6, 2027. 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 decrease or increase (up to 200%) based on the results of the performance conditions.