Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 4

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 4
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   Executive Compensation Clawback policies. |

6 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 |
| ●             |     |            |     |                      |     |                    |     |                        |     |                    |     |            |     |            |     |                                |     |                  |     |         |

EXECUTIVE COMPENSATION PRACTICES We pay for performance. The core of our executive compensation philosophy is that our executives’ pay should be linked to the performance of SBA. Accordingly, our executives’ compensation is heavily weighted toward compensation that is performance-based or equity-based. Our long-term incentive award program is responsive to our shareholders. Our long-term incentive awards for our senior executives, which we structured following extensive engagement with our shareholders regarding our executive compensation plan design, are performance-based, and we do not award stock options as part of our executive compensation program. Our long-term equity incentive awards for 2024 for our CEO were (1) 60% in the form of three-year performance-based restricted stock units and (2) 40% in the form of time-based restricted stock units. Our long-term equity incentive awards for 2024 for our other executive officers were (1) 50% in the form of three-year performance-based restricted stock units and (2) 50% in the form of time-based restricted stock units. SHAREHOLDER ENGAGEMENT We believe that shareholder engagement remains a key driver of our continued success.

| Engage — Our active engagement program is led by representatives of management and our Board. We solicit shareholder views on matters including business strategy, corporate governance, executive compensation, sustainability initiatives and other important topics. We have established a variety of communication channels to best accommodate our shareholders, facilitating effective discussions and feedback. During 2024, we reached out to our top 20 shareholders, representing approximately 58% of the common stock outstanding at the time of such request, and held engagement calls with shareholders representing 19% of our outstanding common stock. The primary focus of investors during the 2024 engagement process was board skill set and experience and corporate governance.   Respond — Our Board responds, as appropriate, through continued discussion with shareholders and enhances our policies, practices