Donald Day - 13 Sep 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EVP - SITE LEASING
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 13 Sep 2024
Net transactions value: -$129,540
Form type: 4
Filing time: 17 Sep 2024, 18:30:06 UTC
Previous filing: 07 Aug 2024
Next filing: 23 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	$234,750	+1,500	+30%	$156.50	6,498	13 Sep 2024	Direct
transaction	SBAC	Class A Common Stock	Sale	$364,290	-1,500	-23%	$242.86	4,998	13 Sep 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	Stock Options (Right to Buy)	Options Exercise	$0	-1,500	-39%	$0.000000	2,321	13 Sep 2024	Class A Common Stock	1,500	$156.50	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						5,739	13 Sep 2024	Class A Common Stock	5,739	$182.30	Direct	F2
holding	SBAC	Restricted Stock Units						233	13 Sep 2024	Class A Common Stock	233		Direct	F3, F4
holding	SBAC	Performance Restricted Stock Units						698	13 Sep 2024	Class A Common Stock	698		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						698	13 Sep 2024	Class A Common Stock	698		Direct	F5, F7
holding	SBAC	Restricted Stock Units						540	13 Sep 2024	Class A Common Stock	540		Direct	F3, F8
holding	SBAC	Performance Restricted Stock Units						809	13 Sep 2024	Class A Common Stock	809		Direct	F5, F9
holding	SBAC	Performance Restricted Stock Units						809	13 Sep 2024	Class A Common Stock	809		Direct	F5, F10
holding	SBAC	Restricted Stock Units						1,665	13 Sep 2024	Class A Common Stock	1,665		Direct	F3, F11
holding	SBAC	Performance Restricted Stock Units						1,665	13 Sep 2024	Class A Common Stock	1,665		Direct	F5, F12
holding	SBAC	Restricted Stock Units						1,370	13 Sep 2024	Class A Common Stock	1,370		Direct	F3, 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 $242.83 to $242.905 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or the security holder of the issuer full information regarding the number of shares sold at each separate price.
F2	These stock options are fully vested and 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: 232 vested on the first anniversary of the grant date and 233 vested on the second anniversary and 233 vests 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: 269 vested on the first anniversary of the grant date and 270 vest on the second and 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: 555 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.
F13	These restricted stock units vest in accordance with the following schedule: 456 vest on the first anniversary of the grant date and 457 vest on the second and third anniversaries of the grant date (August 1, 2024).