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: 2026-08-01 10b5-1 Pre-arranged Plan: No --- Issuer --- Name: SBA COMMUNICATIONS CORP (SBAC) CIK: 0001034054 --- Reporting Owner --- Name: DAY DONALD CIK: 0002031697 Role: Officer (EVP - SITE LEASING) --- Non-Derivative Transactions --- [Transaction #1] Security: Class A Common Stock Date: 2026-08-01 | Code: M (Exercise of derivative) Shares: +457 | Price: $0.00 Shares Owned After: 10,163.031 | Ownership: D (Direct) [Transaction #2] Security: Class A Common Stock Date: 2026-08-01 | Code: F (Payment of exercise/tax) Shares: -170.689 | Price: $180.98 Total Value: $30,891.30 Shares Owned After: 9,992.342 | Ownership: D (Direct) Footnotes: [F1] Shares withheld for payment of tax liability. --- Derivative Transactions --- [Transaction #1] Security: Restricted Stock Units Date: 2026-08-01 | Code: M (Exercise of derivative) Shares: -457 | Price: $0.00 Shares Owned After: 457 | Ownership: D (Direct) Footnotes: [F2] 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: 456 vested on the first anniversary of the grant date; 457 vested on the second anniversary and 457 vests on the third anniversary of the grant date (August 1, 2024). [F6] These restricted stock units vest in accordance with the following schedule: 456 vested on the first anniversary of the grant date; 457 vested on the second anniversary and 457 vests on the third anniversary of the grant date (August 1, 2024). --- Holdings --- [Holding #1] Security: Restricted Stock Units Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F3] These restricted stock units vest in accordance with the following schedule: 555 vested on the first and second anniversaries and 555 will vest on the third anniversary of the grant date (March 6, 2024). [F3] These restricted stock units vest in accordance with the following schedule: 555 vested on the first and second anniversaries and 555 will vest on the third anniversary of the grant date (March 6, 2024). [Holding #2] Security: Performance Restricted Stock Units Ownership: D (Direct) Footnotes: [F4] Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F5] 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. [F5] 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. [Holding #3] Security: Restricted Stock Units Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F7] These restricted stock units vest in accordance with the following schedule: 1,348 vested on the first anniversary; 1,348 will vest on the second anniversary of the grant date and 1,349 vest on the third anniversary of the grant date (March 6, 2025). [F7] These restricted stock units vest in accordance with the following schedule: 1,348 vested on the first anniversary; 1,348 will vest on the second anniversary of the grant date and 1,349 vest on the third anniversary of the grant date (March 6, 2025). [Holding #4] Security: Performance Restricted Stock Units Ownership: D (Direct) Footnotes: [F4] Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F8] 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. [F8] 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. [Holding #5] Security: Restricted Stock Units Ownership: D (Direct) Footnotes: [F2] Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [F9] These restricted stock units vest in accordance with the following schedule: 1,668 will vest on the first and second anniversaries and 1,669 will vest on the third anniversary of the grant date (March 5, 2026). [F9] These restricted stock units vest in accordance with the following schedule: 1,668 will vest on the first and second anniversaries and 1,669 will vest on the third anniversary of the grant date (March 5, 2026). [Holding #6] Security: Performance Restricted Stock Units Ownership: D (Direct) Footnotes: [F4] Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. [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 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. [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 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. --- Footnotes (Complete Index) --- F1: Shares withheld for payment of tax liability. 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 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. F2: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. F3: These restricted stock units vest in accordance with the following schedule: 555 vested on the first and second anniversaries and 555 will vest on the third anniversary of the grant date (March 6, 2024). F4: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. F5: 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. F6: These restricted stock units vest in accordance with the following schedule: 456 vested on the first anniversary of the grant date; 457 vested on the second anniversary and 457 vests on the third anniversary of the grant date (August 1, 2024). F7: These restricted stock units vest in accordance with the following schedule: 1,348 vested on the first anniversary; 1,348 will vest on the second anniversary of the grant date and 1,349 vest on the third anniversary of the grant date (March 6, 2025). F8: 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. F9: These restricted stock units vest in accordance with the following schedule: 1,668 will vest on the first and second anniversaries and 1,669 will vest on the third anniversary of the grant date (March 5, 2026). --- Signature --- /s/ /s/ Joshua Westerman, Attorney-in-Fact (2026-08-04)