Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 49

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 49
---
 for all other NEOs were granted 50% in the form of Time RSUs and 50% in the form of Performance RSUs. As discussed in greater detail below, commencing in 2024, the Performance RSUs were earned based on SBA’s performance in three financial metrics over a three-year performance period (i) cumulative AFFO per share, (ii) our TSR relative to the TSR of the MSCI US REIT Index and (iii) the newly introduced metric of average ROIC. Base Salaries Why we pay base salaries. The Compensation Committee believes that payment of competitive base salaries is an important element for attracting, retaining and motivating our executives. In addition, the Compensation Committee believes that having a certain level of fixed compensation allows our executives to dedicate their full-time business attention to our company. Each executive’s base salary is designed to provide the executive with a fixed amount of annual compensation that is competitive with the marketplace. How base salaries are determined . At the beginning of each fiscal year, the Compensation Committee reviews our CEO’s salary recommendations for each NEO (other than himself), and then establishes salaries for such year through Compensation Committee deliberations. When we set the base salaries for the NEOs, we consider a number of factors, including compensation market data discussed above, the position’s complexity and level of responsibility, the position’s importance in relation to other executive positions, and the assessment of the executive’s performance and other 42 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 |
|               |     |            |     |                      |     |                    |     | ●                      |     |                    |     |            |     |            |     |                                |     |                  |     |         |

circumstances, including, for example, time in position. In addition, the Compensation Committee takes into consideration evaluations of each individual NEO, market changes and the economic and business conditions affecting SBA at the time of the evaluation and the resulting target total cash compensation as compared to the market data. 2024 Base Salary Decisions . In early 2024, the Compensation Committee began by determining the base salary of Mr. Cavanagh in his new role as Chief Executive Officer. Based on the factors discussed above as