Joshua Koenig - 05 Mar 2026 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EXECUTIVE VP/GENERAL COUNSEL
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, 18:30:15 UTC
Previous filing
22 Jan 2026
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
KOENIG JOSHUA EXECUTIVE VP/GENERAL COUNSEL C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON /s/ Joshua Westerman, Attorney-in-Fact 09 Mar 2026 0001957644

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise +655 +11% $0.000000* 6,538 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -258 -3.9% $195.69* 6,280 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +3,930 +63% $0.000000* 10,210 06 Mar 2026 Direct F2
transaction SBAC Class A Common Stock Tax liability -1,546 -15% $195.69* 8,664 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +1,480 +17% $0.000000* 10,144 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -582 -5.7% $195.69* 9,561 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Options Exercise +1,920 +20% $0.000000* 11,481 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -756 -6.6% $195.69* 10,726 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 -655 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 655 Direct F3, F4
transaction SBAC Performance Restricted Stock Units Options Exercise -1,965 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 1,965 Direct F5, F6
transaction SBAC Performance Restricted Stock Units Disposed to Issuer -1,965 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 1,965 Direct F5, F7, F8
transaction SBAC Restricted Stock Units Options Exercise -1,480 -50% $0.000000* 1,480 06 Mar 2026 Class A Common Stock 1,480 Direct F3, F9
transaction SBAC Restricted Stock Units Options Exercise -1,920 -33% $0.000000* 3,840 06 Mar 2026 Class A Common Stock 1,920 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 4,440 05 Mar 2026 Class A Common Stock 4,440 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 1,965 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 3,930 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: 655 vested on the first through third anniversaries 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 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 These performance 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: 1,480 vested on the first anniversary and 1,480 vest on the second and third anniversaries 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 is subject to decrease or increase (up to 200%) based on the results of the performance conditions.
F11 These restricted stock units vest in accordance with the following schedule: 1,920 vested on the first anniversary and 1,920 vest on the second and third anniversaries 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 vest 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.