Jeffrey Stoops - Aug 1, 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: Director, CHAIRMAN
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Stock symbol: SBAC
Transactions as of: Aug 1, 2024
Transactions value $: -$11,048,103
Form type: 4
Date filed: 8/2/2024, 06:30 PM
Previous filing: May 28, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Sale	-$10.6M	-47.9K	-30.06%	$221.98	111K	Aug 1, 2024	Direct	F1
transaction	SBAC	Class A Common Stock	Sale	-$415K	-1.87K	-1.67%	$222.66	110K	Aug 1, 2024	Direct	F2
holding	SBAC	Class A Common Stock						260K	Aug 1, 2024	By Limited Partnership	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
holding	SBAC	Stock Options (Right to Buy)						138K	Aug 1, 2024	Class A Common Stock	138K	$156.50	Direct	F4
holding	SBAC	Stock Options (Right to Buy)						149K	Aug 1, 2024	Class A Common Stock	149K	$182.30	Direct	F4
holding	SBAC	Restricted Stock Units						2.97K	Aug 1, 2024	Class A Common Stock	2.97K		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						8.89K	Aug 1, 2024	Class A Common Stock	8.89K		Direct	F7, F8
holding	SBAC	Performance Restricted Stock Units						8.89K	Aug 1, 2024	Class A Common Stock	8.89K		Direct	F7, F9
holding	SBAC	Restricted Stock Units						6.94K	Aug 1, 2024	Class A Common Stock	6.94K		Direct	F5, F10
holding	SBAC	Performance Restricted Stock Units						10.4K	Aug 1, 2024	Class A Common Stock	10.4K		Direct	F7, F11
holding	SBAC	Performance Restricted Stock Units						10.4K	Aug 1, 2024	Class A Common Stock	10.4K		Direct	F7, F12
holding	SBAC	Restricted Stock Units						906	Aug 1, 2024	Class A Common Stock	906		Direct	F5, F13

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

Explanation of Responses:

Id	Content
F1	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranges from $221.53 to $222.525 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F2	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranges from $222.53 to $222.925 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
F3	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.
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: 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).
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 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 condition.
F9	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 condition.
F10	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).
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 condition.
F12	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 condition.
F13	These restricted stock units vest in accordance with the following schedule: 302 vest on May 1, 2025; 302 vest on May 1, 2026; and 302 vest on May 1, 2027.