Donald Day - 18 Feb 2026 Form 4 Insider Report for SBA COMMUNICATIONS CORP (SBAC)

Reporting relationship: EVP - SITE LEASING
Issuer ticker: SBAC
Reported as of: 18 Feb 2026
Net transaction value: -$43,925
SEC form: 4
Accepted by SEC: 20 Feb 2026, 18:30:06 UTC
Prior SEC filing: 04 Aug 2025
Next SEC filing: 09 Mar 2026
Source filing: View source filing
Reporting owner signature: /s/ Joshua Westerman

Key filing fact

Donald Day filed Form 4 for SBA COMMUNICATIONS CORP (SBAC) on 20 Feb 2026.

Key facts

This page summarizes Donald Day's Form 4 filing for SBA COMMUNICATIONS CORP (SBAC).
3 reported transactions and 9 derivative rows are listed below.
Accepted by SEC: 20 Feb 2026, 18:30.

Change

Previous filing in this sequence was filed on 04 Aug 2025.
Current net transaction value: -$43,925.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0002031697 Primary reporting owner

DAY DONALD

Relationship: EVP - SITE LEASING
Address: C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE, BOCA RATON
Signature: /s/ Joshua Westerman
Signature date: 20 Feb 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

SBAC transaction

Class A Common Stock

Options Exercise

Transaction value: $1,046,220
Shares: +5,739
Change %: +82%
Price: $182.30
Shares after: 12,698
Date: 18 Feb 2026
Ownership: Direct
Footnotes: F1

SBAC transaction

Class A Common Stock

Tax liability

Transaction value: $1,090,145
Shares: -5,367
Change %: -42%
Price: $203.12
Shares after: 7,331
Date: 18 Feb 2026
Ownership: Direct
Footnotes: F2

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

SBAC transaction Derivative

Stock Options (Right to Buy)

Options Exercise

Transaction value: $0
Shares: -5,739
Change %: -100%
Price: $0.000000
Shares after: 0
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 5,739
Exercise price: $182.30
Footnotes: F3

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 270
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 270
Exercise price
Footnotes: F4, F5

SBAC holding Derivative

Performance Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 809
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 809
Exercise price
Footnotes: F6, F7

SBAC holding Derivative

Performance Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 809
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 809
Exercise price
Footnotes: F6, F8

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,110
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,110
Exercise price
Footnotes: F4, F9

SBAC holding Derivative

Performance Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,665
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 1,665
Exercise price
Footnotes: F6, F10

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 914
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 914
Exercise price
Footnotes: F4, F11

SBAC holding Derivative

Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 4,045
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 4,045
Exercise price
Footnotes: F4, F12

SBAC holding Derivative

Performance Restricted Stock Units

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 4,045
Date: 18 Feb 2026
Ownership: Direct
Underlying class: Class A Common Stock
Underlying amount: 4,045
Exercise price
Footnotes: F6, F13

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 13 footnotes

Footnote F1

Includes 3.154 shares acquired through a dividend reinvestment plan.

Footnote F2

Shares withheld for payment of tax liability and exercise price.

Footnote F3

These stock options are fully vested and exercisable.

Footnote F4

Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

Footnote F5

These restricted stock units vest in accordance with the following schedule: 269 vested on the first anniversary of the grant date and 270 vested on the second anniversary and 270 will vest on the third anniversary of the grant date (March 6, 2023).

Footnote F6

Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

Footnote F7

These performance restricted stock units have a three-year performance period and to the extent earned will 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.

Footnote F8

These performance restricted stock units have a three-year performance period and to the extent earned will 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.

Footnote F9

These restricted stock units vest in accordance with the following schedule: 555 vested on the first anniversary and 555 will vest on the second through third anniversaries of the grant date (March 6, 2024).

Footnote 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.

Footnote F11

These restricted stock units vest in accordance with the following schedule: 456 vest on the first anniversary of the grant date and 457 vest on the second and third anniversaries of the grant date (August 1, 2024).

Footnote F12

These restricted stock units vest in accordance with the following schedule: 1,348 vest on the first and second anniversaries of the grant date and 1,349 vest on the third anniversary of the grant date (March 6, 2025).

Footnote 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.

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