Statement of Changes in Beneficial Ownership (4)
August 11 2022 - 6:01PM
Edgar (US Regulatory)
FORM 4
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
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UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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OMB APPROVAL
OMB Number:
3235-0287
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person
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SILBERSTEIN JASON V |
2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP
[
SBAC
]
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5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
EVP - Site Leasing |
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(Last)
(First)
(Middle)
C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
8/10/2022 |
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(Street)
BOCA RATON, FL 33487
(City)
(State)
(Zip)
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4. If Amendment, Date Original Filed
(MM/DD/YYYY)
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6. Individual or Joint/Group Filing
(Check Applicable Line)
_X
_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
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1.Title of Security
(Instr. 3)
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2. Trans. Date
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2A. Deemed Execution Date, if any
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3. Trans. Code
(Instr. 8)
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4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
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5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
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6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)
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7. Nature of Indirect Beneficial Ownership (Instr. 4)
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Code
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V
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Amount
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(A) or (D)
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Price
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| Class A Common Stock | 8/10/2022 | | M | | 16464 | A | $115.17 | 38249 | D | |
| Class A Common Stock | 8/10/2022 | | S | | 16064 | D | $350.3686 (1) | 22185 | D | |
| Class A Common Stock | 8/10/2022 | | S | | 400 | D | $351.00 | 21785 | D | |
Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
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1. Title of Derivate Security
(Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Trans. Date | 3A. Deemed Execution Date, if any | 4. Trans. Code
(Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date | 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) | 8. Price of Derivative Security
(Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) |
| Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
| Stock Options (Right to Buy) | $115.17 | 8/10/2022 | | M | | | 16464 | (2) | 3/6/2024 | Class A Common Stock | 16464 | $0.00 | 32930 | D | |
| Stock Options (Right to Buy) | $156.50 | | | | | | | (2) | 3/6/2025 | Class A Common Stock | 39918 | | 39918 | D | |
| Stock Options (Right to Buy) | $182.30 | | | | | | | (3) | 3/6/2026 | Class A Common Stock | 44592 | | 44592 | D | |
| Restricted Stock Units | (4) | | | | | | | (5) | (5) | Class A Common Stock | 1037 | | 1037 | D | |
| Restricted Stock Units | (4) | | | | | | | (6) | (6) | Class A Common Stock | 977 | | 977 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (8) | (8) | Class A Common Stock | 2931 | | 2931 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (9) | (9) | Class A Common Stock | 2931 | | 2931 | D | |
| Restricted Stock Units | (4) | | | | | | | (10) | (10) | Class A Common Stock | 1982 | | 1982 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (11) | (11) | Class A Common Stock | 2973 | | 2973 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (12) | (12) | Class A Common Stock | 2973 | | 2973 | D | |
| Restricted Stock Units | (4) | | | | | | | (13) | (13) | Class A Common Stock | 2637 | | 2637 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (14) | (14) | Class A Common Stock | 2637 | | 2637 | D | |
| Performance Restricted Stock Units | (7) | | | | | | | (15) | (15) | Class A Common Stock | 2637 | | 2637 | D | |
| Explanation of Responses: |
| (1) | Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $350.00 to $350.86 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price. |
| (2) | These options are immediately exercisable. |
| (3) | These options vest in accordance with the following schedule: 11,148 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019). |
| (4) | Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. |
| (5) | These restricted stock units vest in accordance with the following schedule: 1,036 vest on first anniversary of the grant date and 1,037 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019). |
| (6) | These restricted stock units vest in accordance with the following schedule: 977 vest on each of the first through third anniversaries of the grant date (February 25, 2020). |
| (7) | Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. |
| (8) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
| (9) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
| (10) | These restricted stock units vest in accordance with the following schedule: 991 vest on each of the first through third anniversaries of the grant date (March 4, 2021). |
| (11) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
| (12) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
| (13) | These restricted stock units vest in accordance with the following schedule: 879 vest on each of the first through third anniversaries of the grant date (March 4, 2022). |
| (14) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
| (15) | These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, which is the third anniversary of the grant date. 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 increase or decrease based on the results of the performance condition. |
Reporting Owners
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| Reporting Owner Name / Address | Relationships |
| Director | 10% Owner | Officer | Other |
SILBERSTEIN JASON V
C/O SBA COMMUNICATIONS CORPORATION
8051 CONGRESS AVENUE
BOCA RATON, FL 33487 |
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| EVP - Site Leasing |
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Signatures
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| /s/ Thomas P. Hunt, Attorney-in-Fact | | 8/11/2022 |
| **Signature of Reporting Person | Date |
| Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. |
| * | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
| ** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
| Note: | File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. |
| Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. |
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