Mark R. Ciarfella - 05 Dec 2025 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EVP - OPERATIONS
Signature
/s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
05 Dec 2025
Transactions value $
-$40,850
Form type
4
Filing time
09 Dec 2025, 18:30:05 UTC
Previous filing
10 Mar 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
Ciarfella Mark R EVP - OPERATIONS C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON /s/ Joshua Koenig, Attorney-in-Fact 09 Dec 2025 0001504654

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise $0 +215 +0.57% $0.00 37.8K 05 Dec 2025 Direct F1
transaction SBAC Class A Common Stock Tax liability -$40.9K -215 -0.57% $190.00 37.6K 05 Dec 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 -215 -3.73% $0.00 5.55K 05 Dec 2025 Class A Common Stock 215 Direct F1, F2, F9
holding SBAC Restricted Stock Units 715 05 Dec 2025 Class A Common Stock 715 Direct F2, F3
holding SBAC Performance Restricted Stock Units 2.14K 05 Dec 2025 Class A Common Stock 2.14K Direct F4, F5
holding SBAC Performance Restricted Stock Units 2.14K 05 Dec 2025 Class A Common Stock 2.14K Direct F4, F6
holding SBAC Restricted Stock units 3.06K 05 Dec 2025 Class A Common Stock 3.06K Direct F2, F7
holding SBAC Performance Restricted Stock Units 4.77K 05 Dec 2025 Class A Common Stock 4.77K Direct F4, F8
holding SBAC Performance Restricted Stock Units 5.76K 05 Dec 2025 Class A Common Stock 5.76K Direct F4, F10
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction involved the early vesting of Restricted Stock Units and subsequent withholding of 215 shares of Class A Common Stock issuable upon such vesting to pay tax obligations associated with the Reporting Person being retirement eligible under the Issuer's equity program.
F2 Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F3 These restricted stock units vest in accordance with the following schedule: 714 vest on the first anniversary of the grant date and 715 vest on the second and third anniversary of the grant date (March 6, 2023).
F4 Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5 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 or decrease based on the results of the performance condition.
F6 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 or decrease based on the results of the performance condition.
F7 These restricted stock units vest on the first through third anniversary of the grant date (March 6, 2024).
F8 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.
F9 These restricted stock units will vest in accordance with the following schedule: 1,848 vest on the first and third anniversaries of the grant date and 1,849 vest on the second anniversary of the grant date (March 6, 2025).
F10 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, 2028. The number of shares of Class A Common Stock that will be earned is subject to decrease or increase (up to 200%) based on the results of the performance conditions.