STEVEN E. BERNSTEIN - 17 May 2025 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
Director
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
17 May 2025
Net transactions value
-$39,502
Form type
4
Filing time
20 May 2025, 18:30:07 UTC
Previous filing
05 May 2025
Next filing
28 May 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
BERNSTEIN STEVEN E Director C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON /s/ Joshua Koenig, Attorney-in-Fact 20 May 2025 0001089833

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $222,247 +1,411 +24% $157.51 7,377 17 May 2025 Direct
transaction SBAC Class A Common Stock Tax liability $261,749 -1,123 -15% $233.08 6,254 19 May 2025 Direct F1
holding SBAC Class A Common Stock 56,314 17 May 2025 See Footnote 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 Stock Options (Right to Buy) Options Exercise $0 -1,411 -100% $0.000000 0 17 May 2025 Class A Common Stock 1,411 $157.51 Direct F3
holding SBAC Stock Options (Right to Buy) 1,501 17 May 2025 Class A Common Stock 1,501 $212.31 Direct F3
holding SBAC Restricted Share Units 248 17 May 2025 Class A Common Stock 248 Direct F4, F5
holding SBAC Restricted Stock Units 604 17 May 2025 Class A Common Stock 604 Direct F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld to cover the exercise price and for payment of tax liability.
F2 These shares are held by the Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest.
F3 These options are fully vested and immediately 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: 247 vested on May 1, 2024; 248 vested on May 1, 2025; and 248 vest on May 1, 2026.
F6 These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vest on May 1, 2026; and 302 vest on May 1 2027.