Joshua Koenig - 06 Mar 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EXECUTIVE VP/GENERAL COUNSEL
Signature: /s/ Joshua Koenig
Issuer symbol: SBAC
Transactions as of: 06 Mar 2024
Net transactions value: -$55,801
Form type: 4
Filing time: 08 Mar 2024, 18:30:28 UTC
Previous filing: 06 Mar 2024
Next filing: 31 Dec 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	+655	+10%	$0.000000	6,917	06 Mar 2024	Direct
transaction	SBAC	Class A Common Stock	Tax liability	$55,801	-258	-3.7%	$216.50	6,659	06 Mar 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	-655	-33%	$0.000000	1,310	06 Mar 2024	Class A Common Stock	655		Direct	F3, F8
transaction	SBAC	Restricted Stock Units	Award	$0	+4,440		$0.000000	4,440	06 Mar 2024	Class A Common Stock	4,440		Direct	F3, F11
transaction	SBAC	Performance Restricted Stock Units	Award	$0	+4,440		$0.000000	4,440	06 Mar 2024	Class A Common Stock	4,440		Direct	F5, F12
holding	SBAC	Stock Options (Right to Buy)						2,724	06 Mar 2024	Class A Common Stock	2,724	$156.50	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						9,121	06 Mar 2024	Class A Common Stock	9,121	$182.30	Direct	F2
holding	SBAC	Restricted Stock Units						216	06 Mar 2024	Class A Common Stock	216		Direct	F3, F4
holding	SBAC	Performance Restricted Stock Units						646	06 Mar 2024	Class A Common Stock	646		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						646	06 Mar 2024	Class A Common Stock	646		Direct	F5, F7
holding	SBAC	Performance Restricted Stock Units						1,965	06 Mar 2024	Class A Common Stock	1,965		Direct	F5, F9
holding	SBAC	Performance Restricted Stock Units						1,965	06 Mar 2024	Class A Common Stock	1,965		Direct	F5, F10

* 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	These options are immediately exercisable.
F3	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F4	These restricted stock units vest in accordance with the following schedule: 215 vest on the first and second anniversaries of the grant date and 216 vest on the third anniversary of the grant date (March 4, 2022).
F5	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
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 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.
F8	These restricted stock units vest in accordance with the following schedule: 655 vest on the first through third anniversaries of the grant date (March 6, 2023).
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 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.
F11	These restricted stock units vest in accordance with the following schedule: 1,480 vest on the first through third anniversaries of the grant date (March 6, 2024).
F12	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.