Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 68

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 68
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 to the named executive officers. The threshold, target and maximum amounts reflect the maximum number of shares that may be earned assuming that 50%, 100% and 200% of the applicable performance target is achieved. See note 2 to the Summary Compensation Table and page 48 of the CD&A section for additional information. |

| (4) | This column represents the number of Time RSUs granted in 2024 to the named executive officers. These restricted stock units vest in three equal annual installments, beginning on March 6, 2025, the first anniversary of the grant date. |

| (5) | Performance RSUs that are earned and vest based on SBA’s cumulative AFFO over the 3-year performance period. |

| (6) | Performance RSUs that are earned and vest based on SBA’s relative TSR performance over the 3-year performance period. |

| (7) | Performance RSUs that are earned and vest based on SBA’s average ROIC over the 3-year performance period. |

| (8) | Time RSUs that vest in three equal annual installments on the anniversary of the grant date. |

Narrative Disclosure to Summary Compensation Table and Grants of Plan-Based Awards Table Cavanagh Employment Agreement As discussed above under the caption “Compensation Discussion and Analysis,” we have entered into an employment agreement with Mr. Cavanagh in order to further our ability to retain his services as an executive officer of SBA. Effective February 19, 2024, we amended and restated our employment agreement with Mr. Cavanagh to reflect his new position as President and Chief Executive Officer. Mr. Cavanagh’s employment agreement terminates as of December 31, 2026; provided however that the term of the employment agreement shall automatically be extended for three (3) years following the effective date of a Change in Control. The amended employment agreement with Mr. Cavanagh provides that he is entitled to receive a minimum base salary, set at $920,000, which amount may be increased by the Board, and that he will have a minimum target bonus opportunity of 150% of his annual base salary, which may be increased by the Board. In addition, the amended employment agreement provides for noncompetition, noninterference, non-disparagementand nondisclosure covenants. The employment agreement with Mr. Cavanagh provides that upon termination of his employment without cause, or upon his resignation for good reason, he is entitled to receive certain benefits.