Saul Kredi - 20 Jan 2026 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Role: VP & Chief Accounting Officer
Signature: /s/ Joshua Koenig, Attorney-in-Fact
Issuer symbol: SBAC
Transactions as of: 20 Jan 2026
Net transactions value: -$31,624
Form type: 4
Filing time: 22 Jan 2026, 18:30:13 UTC
Previous filing: 10 Mar 2025
Next filing: 09 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
KREDI SAUL	VP & Chief Accounting Officer	C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON	/s/ Joshua Koenig, Attorney-in-Fact	22 Jan 2026	0002047753

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SBAC	Class A Common Stock	Options Exercise	$1,108,384	+6,080	+104%	$182.30	11,923	20 Jan 2026	Direct	F1
transaction	SBAC	Class A Common Stock	Tax liability	$1,140,008	-5,873	-49%	$194.11	6,050	20 Jan 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	Stock Options (Right to Buy)	Options Exercise	$0	-6,080	-100%	$0.000000	0	20 Jan 2026	Class A Common Stock	6,080	$182.30	Direct	F3
holding	SBAC	Restricted Stock Units						147	20 Jan 2026	Class A Common Stock	147		Direct	F4, F5
holding	SBAC	Performance Restricted Stock Units						439	20 Jan 2026	Class A Common Stock	439		Direct	F6, F7
holding	SBAC	Performance Restricted Stock Units						439	20 Jan 2026	Class A Common Stock	439		Direct	F6, F8
holding	SBAC	Restricted Stock Units						1,170	20 Jan 2026	Class A Common Stock	1,170		Direct	F4, F9
holding	SBAC	Restricted Stock Units						2,451	20 Jan 2026	Class A Common Stock	2,451		Direct	F4, F10

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 0.018 shares acquired through a dividend reinvestment plan.
F2	Shares withheld for payment of tax liability and exercise price.
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: 146 vest on the first and second anniversaries of the grant date and 147 vest on the third anniversary of the grant date (March 6, 2023).
F6	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F7	These 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 (up to 200%) or decrease based on the results of the performance condition.
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 (up to 200%) or decrease based on the results of the performance condition.
F9	These restricted stock units vest in accordance with the following schedule: 584 vest on the first anniversary of the grant date and 585 on the second through third anniversaries of the grant date (March 6, 2024).
F10	These restricted stock units vest in accordance with the following schedule: 817 vest on the first anniversary through third anniversaries of the grant date (March 6, 2025).