Joshua Koenig - Dec 27, 2024 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: EXECUTIVE VP/GENERAL COUNSEL
Signature: /s/ Joshua Koenig
Stock symbol: SBAC
Transactions as of: Dec 27, 2024
Transactions value $: $0
Form type: 4
Date filed: 12/31/2024, 06:30 PM
Previous filing: Mar 8, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Gift	$0	-1K	-15.02%	$0.00	5.66K	Dec 27, 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
holding	SBAC	Stock Options (Right to Buy)						2.72K	Dec 27, 2024	Class A Common Stock	2.72K	$156.50	Direct	F2
holding	SBAC	Stock Options (Right to Buy)						9.12K	Dec 27, 2024	Class A Common Stock	9.12K	$182.30	Direct	F2
holding	SBAC	Restricted Stock Units						216	Dec 27, 2024	Class A Common Stock	216		Direct	F3, F4
holding	SBAC	Performance Restricted Stock Units						646	Dec 27, 2024	Class A Common Stock	646		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						646	Dec 27, 2024	Class A Common Stock	646		Direct	F5, F7
holding	SBAC	Restricted Stock Units						1.31K	Dec 27, 2024	Class A Common Stock	1.31K		Direct	F3, F8
holding	SBAC	Performance Restricted Stock Units						1.97K	Dec 27, 2024	Class A Common Stock	1.97K		Direct	F5, F9
holding	SBAC	Performance Restricted Stock Units						1.97K	Dec 27, 2024	Class A Common Stock	1.97K		Direct	F5, F10
holding	SBAC	Restricted Stock Units						4.44K	Dec 27, 2024	Class A Common Stock	4.44K		Direct	F3, F11
holding	SBAC	Performance Restricted Stock Units						4.44K	Dec 27, 2024	Class A Common Stock	4.44K		Direct	F5, F12

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

Explanation of Responses:

Id	Content
F1	The Reporting Person gifted these shares to a 501(c)(3) institution in an exempt transaction pursuant to Rule 16b-5 of the Securities Exchange Act of 1934, as amended.
F2	These options are fully vested and 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 condition.
F7	These performance 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 period.
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 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 period.
F10	These performance 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 period.
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.