Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 69

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 69
---
271,101 |     |                       19,479 |     | 3,969,820 |

| (1) | Time RSUs that vest in three equal annual installments on the anniversary of the grant date. |

| (2) | Performance RSUs that are earned and vest based on SBA’s cumulative AFFO over the 3-year performance period. |

| (3) | Performance RSUs that are earned and vest based on SBA’s relative TSR performance over the 3-year performance period. |

| (4) | Performance RSUs that are earned and vest based on SBA’s average ROIC over the 3-year performance period. |

| (5) | For our performance-based RSUs, the number of units and the market value is reflected (i) at threshold for the Performance RSUs based on SBA’s relative TSR performance, (ii) at maximum performance level for the Performance RSUs based on SBA’s cumulative AFFO and (iii) at target for the Performance RSUs based on SBA’s average ROIC. The market value of the Time RSUs and the Performance RSUs is calculated by multiplying the closing price of SBA’s Class A common stock on December 31, 2024 ($203.80) by the number of units. |

| (6) | Mr. Silberstein retired from his position as the Company’s Executive Vice President, Site Leasing, effective August 1, 2024. Mr. Silberstein’s retirement was a Qualified Retirement under the 2020 Performance and Equity Incentive Plan and as such his Time RSUs and Performance RSUs will continue to vest pursuant to the terms of the applicable RSU agreement. |

58 SBA Communications Corporation | 2025 Proxy Statement

| Proxy Summary |     | Proposal 1 |     | Corporate Governance |     | Executive Officers |     | Executive Compensation |     | Security Ownership |     | Proposal 2 |     | Proposal 3 |     | Other Compensation Disclosures |     | Q&A About Voting |     | Other   
 Matters |
|               |     |            |     |                      |     |                    |     | ●                      |     |                    |     |            |     |            |     |                                |     |                  |     |         |

Option Exercises and Stock Vested The following table provides information concerning exercises of stock options and vesting of restricted stock units and the value realized on exercise of such stock options and vesting of restricted stock units on an aggregated basis