Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 50

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 50
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 well as an evaluation of the 2024 Peer Group compensation data, the Compensation Committee set Mr. Cavanagh’s salary at $920,000 which was (i) 13% below the base salary of the median of the 2024 Peer Group and (ii) materially below the prior CEO’s base salary. In connection with his employment, the Compensation Committee had previously set the salary for Mr. Montagner for 2024 at $640,000. Mr. Montagner’s base salary was slightly below the base salary of the median of the 2024 Peer Group. The target total cash compensation (base salary plus target annual cash incentive compensation) of each of Mr. Cavanagh and Mr. Montagner was below the median for the 2024 Peer Group. In addition, the Compensation Committee evaluated the base salaries of the other NEOs based on an evaluation of the 2024 Peer Group compensation data. As a result, each of the other NEOs received base salary increases ranging from 8.3% to 8.5% to further align with such market data. Annual Incentive Compensation Our annual incentive compensation program has traditionally consisted of an annual cash bonus payment that we award based on (1) achievement of company-wide annual performance measures and (2) the Compensation Committee’s subjective evaluation of the executive’s contribution to SBA’s other financial, operational and qualitative metrics during the year. The Compensation Committee believes that by providing annual incentive compensation in the form of a cash bonus, it achieves an appropriate balance between cash (salary and annual incentive) and non-cashannual compensation for our NEOs. Why we pay annual incentive compensation . The Compensation Committee believes that the annual incentive compensation program encourages executive officers to focus on those short-term financial, operational and qualitative performance metrics that will be the basis of long-term growth. The Compensation Committee annually reviews, and revises if necessary, the appropriateness of each of these performance metrics, their correlation to SBA’s overall growth strategy and the impact of such performance metrics on long-term shareholder value. How annual incentive compensation awards are determined . Annual incentive compensation awards in 2024 were determined in five steps:

| (1) | determination of the annual bonus target for each NEO, expressed as a percentage of base salary; |

| (2) | establishment of (a) the company-wide financial performance metrics and (b) the other financial, operational and qualitative metrics for use in the Compensation Committee’s subjective evaluation; |

| (3) | determination of the percentage of the