Director at SBA Communications (SBAC) adds shares through RSU settlements
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
SBA Communications director Steven E. Bernstein reported routine equity compensation activity involving restricted stock units and options. On May 1, 2026, a total of 881 restricted stock units were settled for an equal number of Class A Common Stock shares in three blocks of 248, 302, and 331 units, all at a stated price of $0.00 per unit.
Following these settlements, Bernstein directly holds about 7,134.6962 Class A shares, plus stock options that are fully vested and immediately exercisable for 1,501 shares at an exercise price of $212.31 per share, expiring on May 16, 2026. An additional 56,314 shares are held indirectly through Bernstein Limited Partnership II, where he has a pecuniary interest but disclaims full beneficial ownership.
Positive
- None.
Negative
- None.
Insider Trade Summary
881 shares exercised/converted
Mixed
8 txns
Insider
BERNSTEIN STEVEN E
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Share Units | 248 | $0.00 | -- |
| Exercise | Restricted Stock Units | 302 | $0.00 | -- |
| Exercise | Restricted Stock Units | 331 | $0.00 | -- |
| Exercise | Class A Common Stock | 248 | $0.00 | -- |
| Exercise | Class A Common Stock | 302 | $0.00 | -- |
| Exercise | Class A Common Stock | 331 | $0.00 | -- |
| holding | Stock Options (Right to Buy) | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Share Units — 0 shares (Direct);
Restricted Stock Units — 302 shares (Direct);
Class A Common Stock — 6,501.696 shares (Direct);
Stock Options (Right to Buy) — 1,501 shares (Direct);
Class A Common Stock — 56,314 shares (Indirect, See Footnote)
Footnotes (1)
- On May 1, 2026, 248 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock. On May 1, 2026, 302 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock. On May 1, 2026, 331 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock. These shares are held by the Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest. These options are fully vested and immediately exercisable. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. These restricted stock units vest in accordance with the following schedule: 247 vested on May 1, 2024; 248 vested on May 1, 2025; and 248 vested on May 1, 2026. These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vested on May 1, 2026; and 302 vest on May 1 2027. These restricted stock units vest in accordance with the following schedule: 331 vested on May 1, 2026; 331 vest on May 1, 2027; and 332 vest on May 1 2028.
Key Figures
RSUs settled: 881 shares
RSU settlement blocks: 248, 302, 331 shares
Direct common shares: 7,134.6962 shares
+4 more
7 metrics
RSUs settled
881 shares
Restricted stock units settled into Class A Common Stock on May 1, 2026
RSU settlement blocks
248, 302, 331 shares
Three RSU tranches converted to Class A Common Stock on May 1, 2026
Direct common shares
7,134.6962 shares
Class A Common Stock held directly following transactions
Indirect common shares
56,314 shares
Class A Common Stock held via Bernstein Limited Partnership II
Option exercise price
$212.31/share
Exercise price for stock options on Class A Common Stock
Option underlying shares
1,501 shares
Shares of Class A Common Stock underlying fully vested options
Option expiration
May 16, 2026
Expiration date of fully vested, exercisable stock options
Key Terms
Restricted stock units, Stock Options (Right to Buy, fully vested and immediately exercisable, pecuniary interest, +1 more
5 terms
Restricted stock units financial
"Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
Stock Options (Right to Buy financial
"Stock Options (Right to Buy) with an exercise price of 212.3100 expiring on May 16, 2026."
fully vested and immediately exercisable financial
"These options are fully vested and immediately exercisable."
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest."
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest."
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
