Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 32

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 32
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 costs. In October 2024, we published our fifth corporate sustainability report illustrating our commitment to continued engagement and communication of our responsible business practices to our stakeholders. We invite you to review our 2023 Sustainability Report on our website at www.sbasite.com under “Company/Corporate-Responsibility”; however, such sustainability report and other information available at or through our website is not part of, nor is it incorporated by reference into, this proxy statement. Director Compensation General. The Board maintains a compensation arrangement for the non-employeedirectors of the Board. The Board compensation arrangement is comprised of the following types and levels of compensation: Annual Equity Grant. At each annual meeting, non-employeedirectors receive an equity grant in the form of restricted stock units. For 2024, the value of the equity grant was $190,000. The stock price used in the calculation of the number of restricted stock units is a derived price equal to the average closing price of our Class A common stock in the two calendar months of March and April. The restricted stock units vest ratably over three years on May 1 of each year. In addition to the acceleration provisions provided under the relevant equity plan, annual equity grants to directors immediately vest if a director resigns from the board of directors, provided the director has completed three full years of service as a director prior to the effective date of such resignation. Pursuant to this policy, on May 23, 2024, each non-employeedirector of the Board was granted 906 restricted stock units. The restricted stock units vest in three equal annual installments on May 1, 2025, 2026, and 2027. Newly elected or appointed non-employeedirectors are awarded a pro-ratedannual grant compensating for services until the next scheduled annual meeting. Retainer and Fees Paid in Cash . For 2024, each non-employeedirector was entitled to an annual cash retainer of $100,000. In addition, the Chair of the Board was entitled to an additional annual retainer of $150,000. The Lead Independent Director was entitled to an additional retainer of $30,000, and the Chairs of the Audit Committee, the Compensation Committee and the NCG Committee were entitled to an additional retainer of $30,000, $30,000, and $30,000, respectively. Non-employeedirectors are also reimbursed for incidental expenses associated with each Board of Directors and/or Committee meeting.