Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 54

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 54
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 meeting certain qualitative, financial and operational metrics that were within the NEO’s scope of responsibility. Commencing in 2024, this component was reduced from 40% to 25% and, therefore, the Compensation Committee sought to streamline this component of the annual bonus. In addition, taking into consideration the significant leadership transitions that had occurred in 2023 and in the beginning of 2024, the Compensation Committee believes that this component of the annual bonus was best utilized to ensure that all members of the leadership team were focused on developing cross-departmental collaboration, succession planning, leadership and personnel development, improved business processes and communications and strategic contributions to the future as well as rewarding specific executive performance, including contribution to international performance, audit results and capital allocation. |

The table below sets forth the performance levels set by the Compensation Committee for Adjusted EBITDA, reflected in millions, and Site Leasing Revenue for 2024 and the actual amount achieved in 2024. The Stretch level of both Adjusted EBITDA and Site Leasing Revenue was set above our actual Adjusted EBITDA of $1,894 in 2023 and our actual Site Leasing Revenue of $2,517 in 2023.

|                      |     | Minimum*   (50%) |     |        |     | Budget*   (75%) |     |        |     | Stretch*   (100%) |     |        |     | Maximum*   (200%) |     |        |     | Actual(2) |     |        |     | % Earned |     |    |   |
| Adjusted EBITDA(1)   |     |                  |     | $1,859 |     |                 |     | $1,897 |     |                   |     | $1,935 |     |                   |     | $2,011 |     |           |     | $1,916 |     |          |     | 87 | % |
| Site Leasing Revenue |     |                  |     | $2,482 |     |                 |     | $2,533 |     |                   |     | $2,583 |     |                   |     | $2,685 |     |           |     | $2,558 |     |          |     | 88 | % |

| * | Financial targets disclosed in this section are done so in the limited context of our annual incentive compensation program and are not statements