Mark R. Ciarfella - 05 Mar 2026 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EVP - OPERATIONS
Signature
/s/ Joshua Westerman, Attorney-in-Fact
Issuer symbol
SBAC
Transactions as of
05 Mar 2026
Net transactions value
$0
Form type
4
Filing time
09 Mar 2026, 18:30:19 UTC
Previous filing
09 Dec 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 Westerman, Attorney-in-Fact 09 Mar 2026 0001504654

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise +715 +1.9% $0.000000* 38,324 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -265 -0.69% $195.69* 38,059 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +4,288 +11% $0.000000* 42,347 06 Mar 2026 Direct F2
transaction SBAC Class A Common Stock Tax liability -1,664 -3.9% $195.69* 40,683 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +1,532 +3.8% $0.000000* 42,215 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -567 -1.3% $195.69* 41,649 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +1,848 +4.4% $0.000000* 43,497 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -676 -1.6% $195.69* 42,821 06 Mar 2026 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 -715 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 715 Direct F3, F4
transaction SBAC Performance Restricted Stock Units Options Exercise -2,144 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 2,144 Direct F5, F6
transaction SBAC Performance Restricted Stock Units Disposed to Issuer -2,144 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 2,144 Direct F5, F7, F8
transaction SBAC Restricted Stock units Options Exercise -1,532 -50% $0.000000* 1,531 06 Mar 2026 Class A Common Stock 1,532 Direct F3, F9
transaction SBAC Restricted Stock Units Options Exercise -1,848 -33% $0.000000* 3,697 06 Mar 2026 Class A Common Stock 1,848 Direct F3, F11
transaction SBAC Restricted Stock Units Award +6,717 $0.000000* 6,717 05 Mar 2026 Class A Common Stock 6,717 Direct F3, F13
transaction SBAC Performance Restricted Stock Units Award +6,716 $0.000000* 6,716 05 Mar 2026 Class A Common Stock 6,716 Direct F5, F14
holding SBAC Performance Restricted Stock Units 4,771 05 Mar 2026 Class A Common Stock 4,771 Direct F5, F10
holding SBAC Performance Restricted Stock Units 5,760 05 Mar 2026 Class A Common Stock 5,760 Direct F5, F12
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Shares withheld for payment of tax liability.
F2 As previously reported on a Form 4, the Reporting Person was awarded 2,144 performance restricted stock units ("PSUs") on March 6, 2023 which were subject to increase or decrease based on the results of the performance condition. On March 6, 2026, these PSUs vested at 200% of target based on the results of the performance condition, such that 4,288 shares of Class A Common Stock became issuable to the Reporting Person.
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: 714 vested on the first anniversary of the grant date and 715 vested on the second and 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 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 The PSUs previously reported as acquired by the reporting person were forfeited because the minimum performance criteria required for vesting was not met.
F8 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.
F9 These restricted stock units vest in accordance with the following schedule: 1,530 vested on the first anniversary, 1,532 vested on the second anniversary and 1,531 will vest on the third anniversary of the grant date (March 6, 2024).
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, 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.
F11 These restricted stock units will vest in accordance with the following schedule: 1,848 vested on the first anniversary, 1,849 vest on the second anniversary and 1,848 vest on the third anniversary of the grant date (March 6, 2025).
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, 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.
F13 These restricted stock units vest in accordance with the following schedule: 2,239 vesting on the first through third anniversaries of the grant date (March 5, 2026).
F14 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 5, 2029. 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.