RICHARD M. CANE - 05 Mar 2026 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role
EVP; PRES. - INTERNATIONAL
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, 18:30:17 UTC
Previous filing
10 Mar 2025
SEC
View on sec.gov

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
CANE RICHARD M EVP; PRES. - INTERNATIONAL C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON /s/ Joshua Westerman, Attorney-in-Fact 06 Mar 2026 0001957645

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction SBAC Class A Common Stock Options Exercise +694 +10% $0.000000* 7,305 06 Mar 2026 Direct F1
transaction SBAC Class A Common Stock Tax liability -273 -3.7% $195.69* 7,032 06 Mar 2026 Direct F2
transaction SBAC Class A Common Stock Options Exercise +4,162 +59% $0.000000* 11,194 06 Mar 2026 Direct F3
transaction SBAC Class A Common Stock Tax liability -1,033 -9.2% $195.69* 10,162 06 Mar 2026 Direct F2
transaction SBAC Class A Common Stock Options Exercise +1,543 +15% $0.000000* 11,705 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -607 -5.2% $195.69* 11,097 06 Mar 2026 Direct F2
transaction SBAC Class A Common Stock Options Exercise +1,920 +17% $0.000000* 13,017 06 Mar 2026 Direct
transaction SBAC Class A Common Stock Tax liability -613 -4.7% $195.69* 12,404 06 Mar 2026 Direct 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 Restricted Stock Units Options Exercise -694 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 694 Direct F4, F5
transaction SBAC Performance Restricted Stock Units Options Exercise -2,081 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 2,081 Direct F3, F6, F7
transaction SBAC Performance Restricted Stock Units Disposed to Issuer -2,081 -100% $0.000000* 0 06 Mar 2026 Class A Common Stock 2,081 Direct F6, F8, F9, F10
transaction SBAC Restricted Stock Units Options Exercise -1,543 -50% $0.000000* 1,543 06 Mar 2026 Class A Common Stock 1,543 Direct F4, F11
transaction SBAC Restricted Stock Units Options Exercise -1,920 -33% $0.000000* 3,840 06 Mar 2026 Class A Common Stock 1,920 Direct F4, F12
transaction SBAC Restricted Stock Units Award +6,717 $0.000000* 6,717 05 Mar 2026 Class A Common Stock 6,717 Direct F4, F14
transaction SBAC Performance Restricted Stock Units Award +6,716 $0.000000* 6,716 05 Mar 2026 Class A Common Stock 6,716 Direct F6, F15
holding SBAC Performance Restricted Stock Units 4,629 05 Mar 2026 Class A Common Stock 4,629 Direct F6, F10
holding SBAC Performance Restricted Stock Units 5,760 05 Mar 2026 Class A Common Stock 5,760 Direct F6, F13
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Includes 238.733 shares acquired through a dividend reinvestment plan and the SBA Communications Corporation 2018 Employee Stock Purchase Plan.
F2 Shares withheld for the payment of tax liability.
F3 As previously reported on a Form 4, the Reporting Person was awarded 2,081 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 4,162 shares of Class A Common Stock became issuable to the Reporting Person.
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: 693 vested on the first anniversary of the grant date and 694 vested on each of the second and third anniversaries of the grant date (March 6, 2023).
F6 Each performance restricted stock unit represents a contingent right to received one share of Class A Common Stock.
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 or decrease based on the results of the performance condition.
F8 The PSUs previously reported as acquired by the reporting person were forfeited because the minimum performance criteria required for vesting was not met.
F9 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.
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 to the following schedule; 1,543 vested on the first and second anniversaries and 1,543 vest on the third anniversary of the grant date (March 6, 2024).
F12 These restricted stock units vest in accordance to the following schedule; 1,920 vested on the first anniversary and 1,920 vest on the second through third anniversaries of the grant date (March 6, 2025).
F13 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.
F14 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).
F15 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.