Brendan Thomas Cavanagh - Mar 6, 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
PRESIDENT AND CEO, Director
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Stock symbol
SBAC
Transactions as of
Mar 6, 2024
Transactions value $
-$123,103
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 +1.45K +3.01% $0.00 49.5K Mar 6, 2024 Direct
transaction SBAC Class A Common Stock Tax liability -$123K -569 -1.15% $216.50 48.9K Mar 6, 2024 Direct F1
holding SBAC Class A Common Stock 19.1K Mar 6, 2024 By LLC F2

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 -1.45K -33.33% $0.00 2.89K Mar 6, 2024 Class A Common Stock 1.45K Direct F4, F9
transaction SBAC Restricted Stock Units Award $0 +11.9K $0.00 11.9K Mar 6, 2024 Class A Common Stock 11.9K Direct F4, F12
transaction SBAC Performance Restricted Stock Units Award $0 +17.8K $0.00 17.8K Mar 6, 2024 Class A Common Stock 17.8K Direct F6, F13
holding SBAC Stock Options (Right to Buy) 50.2K Mar 6, 2024 Class A Common Stock 50.2K $156.50 Direct F3
holding SBAC Stock Options (Right to Buy) 55.7K Mar 6, 2024 Class A Common Stock 55.7K $182.30 Direct F3
holding SBAC Restricted Stock Units 1.16K Mar 6, 2024 Class A Common Stock 1.16K Direct F4, F5
holding SBAC Performance Restricted Stock Units 3.47K Mar 6, 2024 Class A Common Stock 3.47K Direct F6, F7
holding SBAC Performance Restricted Stock Units 3.47K Mar 6, 2024 Class A Common Stock 3.47K Direct F6, F8
holding SBAC Performance Restricted Stock Units 4.34K Mar 6, 2024 Class A Common Stock 4.34K Direct F6, F10
holding SBAC Performance Restricted Stock Units 4.34K Mar 6, 2024 Class A Common Stock 4.34K Direct F6, F11
* 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 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.
F3 These options are fully vested and exercisable.
F4 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5 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).
F6 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
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 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.
F9 These restricted stock units units vest in accordance with the following schedule: 1,445 vest on the first through third anniversaries of the grant date (March 6, 2023).
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 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.
F12 These restricted stock units vest in accordance with the following schedule: 3,966 vest on the first through third anniversaries of the grant date (March 6, 2024).
F13 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.