Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 55

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 55
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 of management’s expectations or estimates of results or other guidance. We specifically caution investors not to apply these statements to other contexts. |

| (1) | Adjusted EBITDA is defined as net income (loss) excluding the impact of interest expense, interest income, provision for or benefit from taxes, depreciation, accretion and amortization, asset impairment and decommission costs, non-cash compensation, loss from extinguishment of debt, net, other (income) and expense, acquisition and new business initiatives related adjustments and expenses, non-cash straight-line leasing revenue, and non-cash straight-line ground lease expense. Please refer to Appendix A for the calculation of Adjusted EBITDA. |

| (2) | For purposes of determining annual incentive compensation, Adjusted EBITDA and Site leasing Revenue are calculated on a constant currency basis utilizing the budgeted exchange rates. |

The table below sets forth the principal financial and operational metrics that were established at the beginning of the period as part of the 2024 annual incentive compensation program as well as (i) the minimum, budget, stretch and maximum performance levels established by the Compensation Committee and (ii) the actual 2024 performance. Each NEO was typically assigned two financial or operational metrics as well as a number of qualitative metrics.

| ($ in millions) Financial or Operational Metric |     | Minimum 
 (50%)   |       |   |     | Budget 
 (75%)  |       |   |     | Stretch 
 (100%)  |       |   |     | Maximum 
 (200%)  |       |   |     | 2024   
 Actual |       |   |
|:------------------------------------------------|:----|:--------|------:|:--|:----|:-------|------:|:--|:----|:--------|------:|:--|:----|:--------|------:|:--|:----|:-------|------:|:--|
| Tower Acquisitions                              |     | $       |   225 |   |     | $      |   300 |   |     | $       |   375 |   |     | $       |   675 |   |     | $      |   295 |   |
| Domestic New Builds                             |     |         |    24 |   |     |        |    30 |   |     |         |    36 |   |     |         |    48 |   |     |        |