Saul Kredi - 06 Mar 2025 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: VP & Chief Accounting Officer
Signature: Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 06 Mar 2025
Net transactions value: -$60,087
Form type: 4
Filing time: 10 Mar 2025, 18:30:07 UTC
Previous filing: 06 Mar 2025
Next filing: 22 Jan 2026
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	+146	+2.7%	$0.000000	5,531	06 Mar 2025	Direct
transaction	SBAC	Class A Common Stock	Tax liability	$12,017	-55	-0.99%	$220.38	5,477	06 Mar 2025	Direct	F1
transaction	SBAC	Class A Common Stock	Options Exercise	$0	+584	+11%	$0.000000	6,061	06 Mar 2025	Direct
transaction	SBAC	Class A Common Stock	Tax liability	$48,070	-218	-3.6%	$220.38	5,843	06 Mar 2025	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	-146	-50%	$0.000000	147	06 Mar 2025	Class A Common Stock	146		Direct	F3, F4
transaction	SBAC	Restricted Stock Units	Options Exercise	$0	-584	-33%	$0.000000	1,170	06 Mar 2025	Class A Common Stock	584		Direct	F3, F8
transaction	SBAC	Restricted Stock Units	Award	$0	+2,451		$0.000000	2,451	06 Mar 2025	Class A Common Stock	2,451		Direct	F3, F9
holding	SBAC	Stock Options (Right to Buy)						6,080	06 Mar 2025	Class A Common Stock	6,080	$182.30	Direct	F2
holding	SBAC	Performance Restricted Stock Units						439	06 Mar 2025	Class A Common Stock	439		Direct	F5, F6
holding	SBAC	Performance Restricted Stock Units						439	06 Mar 2025	Class A Common Stock	439		Direct	F5, F7

* 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 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: 146 vest on the first and second anniversaries of the grant date and 147 vest on the third anniversary of the grant date (March 6, 2023).
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 vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase (up to 200%) or decrease based on the results of the performance condition.
F7	The performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase (up to 200%) or decrease based on the results of the performance condition.
F8	These restricted stock units vest in accordance with the following schedule: 584 vest on the first anniversary of the grant date and 585 on the second through third anniversaries of the grant date (March 6, 2024).
F9	These restricted stock units vest in accordance with the following schedule: 817 vest on the first anniversary through third anniversaries of the grant date (March 6, 2025).