Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 59

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 59
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In connection with the award of the Performance RSUs, the Compensation Committee established a threshold, target and maximum performance level and determined the percentage of the RSUs that would be earned at each performance level as set forth below:

| AFFO Per Share RSUs |     |         |   |
| Performance Level   |     | Vesting | * |
| Threshold           |     | 50%     |   |
| Target              |     | 100%    |   |
| Maximum             |     | 200%    |   |

| ROIC RSUs         |     |         |   |
| Performance Level |     | Vesting | * |
| Threshold         |     | 50%     |   |
| Target            |     | 100%    |   |
| Maximum           |     | 200%    |   |

| Relative TSR RSUs |     |         |   |
| Performance Level |     | Vesting | * |
| 25th Percentile   |     | 50%     |   |
| 50th Percentile   |     | 100%    |   |
| 75th Percentile   |     | 200%    |   |

Information with respect to performance levels for the AFFO per share and our ROIC metric during the pendency of the performance period is not considered material to an understanding of our compensation arrangements and is not addressed in this discussion because it represents confidential financial information that we do not otherwise disclose to the public. Disclosing this information could cause significant competitive harm to the company. We believe our performance target for the AFFO per share and our ROIC was set at an appropriate level at the beginning of the performance period to be challenging, but sufficiently realistic to motivate the performance of our executive officers. We disclose information with respect to the AFFO per share and our ROIC threshold, target and maximum payout opportunities, and the actual number of shares awarded, in our executive compensation disclosures with the SEC in the year following conclusion of the performance period. The Compensation Committee then approves a target dollar value of the long-term incentive grants, or LTI Value, for each NEO based on a review of the Peer Group analysis and an evaluation of the individual NEO’s responsibilities, contributions and performance in the prior year. Once a target LTI Value is approved, the Compensation Committee then determines the target number of restricted stock units for each form of