SBA COMMUNICATIONS CORP (SBAC) · Insider Trading (Form 4) SEC Filing

=== SEC Form 4 — Statement of Changes in Beneficial Ownership === Document Type: 4 Period of Report: 2026-05-13 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: SBA COMMUNICATIONS CORP (SBAC) CIK: 0001034054 --- Reporting Owner --- Name: BERNSTEIN STEVEN E CIK: 0001089833 Role: Director --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-05-13 | Code: M (Exercise of derivative) Shares: +1,501 | Price: $212.31 Total Value: $318,677.31 Shares Owned After: 8,635.6962 | Ownership: D (Direct) [Transaction #2] Security: Class A Common Stock Date: 2026-05-13 | Code: F (Payment of exercise/tax) Shares: -1,496 | Price: $213.61 Total Value: $319,560.56 Shares Owned After: 7,139.6962 | Ownership: D (Direct) Footnotes: [F1] Shares withheld for payment of tax liability and exercise price. --- Derivative Transactions --- [Transaction #1] Security: Stock Options (Right to Buy) Date: 2026-05-13 | Code: M (Exercise of derivative) Shares: -1,501 | Price: $0.00 Exercisable: N/A | Expires: 2026-05-16 Shares Owned After: 0 | Ownership: D (Direct) Footnotes: [F3] These options are fully vested and immediately exercisable. --- Holdings --- [Holding #1] Security: Class A Common Stock Ownership: I (Indirect) Footnotes: [F2] These shares are held by the Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest. [Holding #2] Security: Restricted Stock Units Ownership: D (Direct) Footnotes: [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: 302 vested on May 1, 2025; 302 vested on May 1, 2026; and 302 vest on May 1 2027. [F5] These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vested on May 1, 2026; and 302 vest on May 1 2027. [Holding #3] Security: Restricted Stock Units Ownership: D (Direct) Footnotes: [F4] Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F6] These restricted stock units vest in accordance with the following schedule: 331 vested on May 1, 2026; 331 vest on May 1, 2027; and 332 vest on May 1 2028. [F6] These restricted stock units vest in accordance with the following schedule: 331 vested on May 1, 2026; 331 vest on May 1, 2027; and 332 vest on May 1 2028. --- Footnotes (Complete Index) --- F1: Shares withheld for payment of tax liability and exercise price. F2: These shares are held by the Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest. 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: 302 vested on May 1, 2025; 302 vested on May 1, 2026; and 302 vest on May 1 2027. F6: These restricted stock units vest in accordance with the following schedule: 331 vested on May 1, 2026; 331 vest on May 1, 2027; and 332 vest on May 1 2028. --- Signature --- /s/ /s/ Joshua Westerman, Attorney-in-Fact (2026-05-15)