Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 70

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 70
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; Mr. Ciarfella, 1,818 shares; Mr. Cane, 594 shares; Mr. Koenig, 995 shares; and Mr. Silberstein, 2,840 shares. |

| (4) | Calculated based on the closing price of SBA Class A common stock on the business day prior to the applicable vesting dates. |

Potential Payments Upon Termination or Change-in-Control Severance Arrangements We have entered into an employment agreement with Mr. Cavanagh, the Cavanagh Employment Agreement, and adopted the SBA Communications Corporation Executive Severance Plan, or Executive Severance Plan, which provide for a severance payment if the executive is terminated under certain circumstances. We believe that the severance provisions of the Cavanagh Employment Agreement and the Executive Severance Plan assist in our retention of these key executives and ensure their continued dedication to their duties in the event of a change in control. The Executive Severance Plan provides severance benefits to our Executive Vice Presidents, which includes Messrs. Richard M. Cane, Mark Ciarfella, Joshua M. Koenig, Marc Montagner, and Donald E. Day (each, an “ESP Participant”). The material terms of the severance provisions of Mr. Cavanagh’s employment agreement and the Executive Severance Plan in effect as of December 31, 2024 are as follows: Covered terminations .Pursuant to the Cavanagh Employment Agreement and the Executive Severance Plan, Mr. Cavanagh or an ESP Participant would receive severance payments if his employment were terminated (1) by SBA without “Cause” (as defined below) or (2) by such executive for “Good Reason” (as defined below) (each a “Covered Termination”) or (3) due to his death or disability. The amount of such severance payments varies to the extent that such termination occurs (A) on or after a “Change in Control”, (B) six months prior to a Change In Control if it is reasonably demonstrated that such termination was in contemplation of the Change In Control, or (C) at the time an executive is “Retirement Eligible” (defined as a person who (i) is at least 55 years old, (ii) has worked for us for at least five years and (iii) the sum of his or her age and length of service is at least 70). SBA Communications Corporation | 2025 Proxy Statement