Company: SBAC
Filing Date: 2025-04-07
Form Type: DEF 14A
Source: 0001193125-25-074669
Chunk: 48

Company: SBA COMMUNICATIONS CORP
Filing Date: 2025-04-07
Form: DEF 14A
Chunk 48
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 receive. In addition, the CEO offers his proposal for the performance metrics, relative weightings and threshold and target levels for our annual incentive compensation for the upcoming year. Establishing Individual Executive Compensation Packages The Compensation Committee conducts an annual review of the executive compensation packages. Based on this review, the Compensation Committee approves, after considering the CEO’s recommendations, the following:

| > | base salary changes; |

| > | any amounts earned under the previous year’s annual incentive compensation program; |

| > | performance metrics, performance targets and annual bonus targets under the annual incentive compensation program for the current year; and |

| > | annual long-term incentive awards. |

The Compensation Committee also approves such compensation package components for the CEO. Executive Compensation Components and 2024 Compensation Decisions To achieve its compensation philosophy and objectives, the Compensation Committee has utilized three components of total direct compensation: (1) base salary, (2) annual incentive compensation and (3) long-term equity-based incentive compensation. As previously stated, we do not currently provide our NEOs with a pension plan, or deferred compensation, other than the ability to contribute their earnings to SBA’s 401(k) Plan on the same basis available to all employees of SBA. SBA Communications Corporation | 2025 Proxy Statement 41

| 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 |
|               |     |            |     |                      |     |                    |     | ●                      |     |                    |     |            |     |            |     |                                |     |                  |     |         |

As discussed further below, each element of our 2024 compensation program is intended to encourage and foster the following results and behaviors. We designed our compensation program to provide executives the appropriate incentives to pursue quality long-term growth without encouraging inappropriate risk taking. As discussed below, under our program, our annual incentive opportunities are capped for each of our NEOs. Our equity-based incentive compensation component consists of (1) time-based restricted stock units, or Time RSUs, and (2) three-year performance-based restricted stock units, or Performance RSUs. In 2024, our CEO’s equity award was granted 40% in the form of Time RSUs and 60% in the form of Performance RSUs while equity awards