Statement of Changes in Beneficial Ownership (4)
March 08 2021 - 6:43PM
Edgar (US Regulatory)
FORM 4
[ ]
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
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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
*
Patel Dipan D |
2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP
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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 Tech., Strat. & New Bus. |
(Last)
(First)
(Middle)
C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE |
3. Date of Earliest Transaction
(MM/DD/YYYY)
3/4/2021 |
(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 | | | | | | | | 789.3812 | 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) | $182.30 | | | | | | | (1) | 3/6/2026 | Class A Common Stock | 20269 | | 20269 | D | |
Restricted Stock Units | (2) | | | | | | | (3) | (3) | Class A Common Stock | 1414 | | 1414 | D | |
Restricted Stock Units | (2) | | | | | | | (4) | (4) | Class A Common Stock | 943 | | 943 | D | |
Performance Restricted Stock Units | (5) | | | | | | | (6) | (6) | Class A Common Stock | 1414 | | 1414 | D | |
Performance Restricted Stock Units | (5) | | | | | | | (7) | (7) | Class A Common Stock | 1414 | | 1414 | D | |
Restricted Stock Units | (2) | 3/4/2021 | | A | | 1499 | | (8) | (8) | Class A Common Stock | 1499 | $0.00 | 1499 | D | |
Performance Restricted Stock Units | (5) | 3/4/2021 | | A | | 1499 | | (9) | (9) | Class A Common Stock | 1499 | $0.00 | 1499 | D | |
Performance Restricted Stock Units | (5) | 3/4/2021 | | A | | 1499 | | (10) | (10) | Class A Common Stock | 1499 | $0.00 | 1499 | D | |
Explanation of Responses: |
(1) | These options vest in accordance with the following schedule: 5,067 vest on each of the first through third anniversaries of the grant date and 5,068 vest on the fourth anniversary of the grant date (March 6, 2019). |
(2) | Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. |
(3) | These restricted stock units vest in accordance with the following schedule: 471 vest on each of the first through third anniversaries of the grant date and 472 vest on the fourth anniversary of the grant date (March 6, 2019). |
(4) | These restricted stock units vest in accordance with the following schedule: 471 vest on the first and second anniversaries of the grant date and 472 vest on the third anniversary of the grant date (February 25, 2020). |
(5) | Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. |
(6) | 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. |
(7) | 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. |
(8) | These restricted stock units vest in accordance with the following schedule: 499 vest on the first anniversary of the grant date and 500 vest on each of the second and third anniversaries of the grant date (March 4, 2021). |
(9) | 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. |
(10) | 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. |
Reporting Owners
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Reporting Owner Name / Address | Relationships |
Director | 10% Owner | Officer | Other |
Patel Dipan D C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON, FL 33487 |
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| EVP Tech., Strat. & New Bus. |
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Signatures
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/s/ Thomas P. Hunt, Attorney-in-Fact | | 3/8/2021 |
**Signature of Reporting Person | Date |
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