SBA Communications chair gets 1,108 new RSUs

SBA Communications Corp chairman and director Jeffrey Stoops reported updated equity holdings, including a new grant of 1,108 Restricted Stock Units (RSUs), each representing one share of Class A Common Stock.

Rhea-AI Filing Summary

SBA Communications Corp chairman and director Jeffrey Stoops reported updated equity holdings, including a new grant of 1,108 Restricted Stock Units (RSUs), each representing one share of Class A Common Stock. These RSUs were acquired at an exercise price of $0.00 per unit as a compensation award.

After this filing, Stoops has 141,464.52 shares of Class A Common Stock held directly and 259,863 shares held indirectly through Calculated Risk Partners, L.P., a limited partnership whose general partner he and his spouse control. He disclaims beneficial ownership of the partnership shares except for his pecuniary interest. Direct RSU holdings include tranches of 663 and 302 units that vest between May 1, 2025 and May 1, 2028, and the newly granted 1,108 RSUs vest in equal installments of 369, 369, and 370 units on May 1 of 2027, 2028, and 2029, respectively. The filing does not report any open-market purchases or sales; it primarily reflects a compensation-related RSU award and updated totals of direct and indirect equity interests.

Insider Trade Summary

Grant/Award: 1,108 shares

Grant/Award 5 txns

Insider STOOPS JEFFREY

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	1,108	$0.00	$0.00
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Class A Common Stock	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 2,073 contracts for 965 underlying shares (Direct); Class A Common Stock — 141,464.52 shares (Direct); Class A Common Stock — 259,863 shares (Indirect, By Limited Partnership)

Footnotes (5)

1. F1. These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.
2. F2. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
3. F3. These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vested on May 2026; and 302 vest on May 1, 2027.
4. F4. 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.
5. F5. These restricted stock units vest in accordance with the following schedule: 369 vest on May 1, 2027; 369 vest on May 1, 2028; and 370 vest on May 1, 2029.

Key Figures

New RSU grant: 1,108 Restricted Stock Units Direct common stock holdings: 141,464.52 shares Indirect common stock holdings: 259,863 shares +3 more

6 metrics

New RSU grant 1,108 Restricted Stock Units Grant on May 22, 2026, at $0.00 exercise price

Direct common stock holdings 141,464.52 shares Class A Common Stock held directly after transactions

Indirect common stock holdings 259,863 shares Held indirectly via Calculated Risk Partners, L.P.

Existing RSU tranche 663 RSUs Each unit convertible into one Class A Common share

Existing RSU tranche 302 RSUs Part of units vesting from May 1, 2025 to May 1, 2027

Future vesting schedule 369 / 369 / 370 units New RSUs vest on May 1, 2027, 2028, and 2029

Key Terms

Restricted Stock Units, Class A Common Stock, pecuniary interest, beneficial ownership, +1 more

5 terms

Restricted Stock Units financial

"The only transactional entry is an acquisition of 1,108 Restricted Stock Units as a compensation award"

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.

Class A Common Stock financial

"Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock"

Class A common stock is a category of a company’s shares that carries a specific set of ownership rights—most commonly defined voting power and claims on dividends—set out in the company’s charter. For investors it matters because the class determines how much influence you have over corporate decisions, the share’s likely dividend and trading behavior, and how it compares in value to other share classes, like choosing a particular seat with different privileges at the company’s decision-making table.

pecuniary interest financial

"He disclaims beneficial ownership of the partnership shares except to the extent of his pecuniary interest"

beneficial ownership financial

"The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein"

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.

limited partnership financial

"These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership"

A limited partnership is a legal business structure with two types of partners: at least one general partner who runs the business and bears full legal responsibility, and one or more limited partners who contribute money, share profits, and have liability capped at their investment. For investors, it matters because it separates control from financial exposure — like putting money into a store without managing it — and affects how returns, risks, taxes and transferability of ownership are handled.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider activity did SBA Communications (SBAC) report for Jeffrey Stoops?

Jeffrey Stoops reported a grant of 1,108 Restricted Stock Units, each convertible into one share of Class A Common Stock, plus updated totals of his direct and indirect holdings. The filing shows compensation-related awards rather than open-market buying or selling.

How many SBA Communications (SBAC) shares does Jeffrey Stoops hold directly and indirectly?

Following the reported transactions, Jeffrey Stoops holds 141,464.52 shares of Class A Common Stock directly and 259,863 shares indirectly through Calculated Risk Partners, L.P. He disclaims beneficial ownership of the partnership-held shares except to the extent of his pecuniary interest.

What are the vesting terms of Jeffrey Stoops’ new 1,108 SBA Communications RSUs?

The 1,108 newly granted Restricted Stock Units vest in three annual tranches: 369 units on May 1, 2027, 369 units on May 1, 2028, and 370 units on May 1, 2029. Each vested unit entitles him to receive one share of Class A Common Stock.

What existing SBA Communications (SBAC) RSUs does Jeffrey Stoops hold and when do they vest?

Stoops holds RSUs corresponding to 663 and 302 underlying Class A shares. Footnotes state 302 units vest across May 1, 2025, 2026, and 2027, while 331, 331, and 332 units vest on May 1 of 2026, 2027, and 2028, respectively, subject to their award terms.

Did the SBA Communications (SBAC) Form 4 show any open-market stock purchases or sales?

The summarized data show no open-market purchases or sales by Jeffrey Stoops. The only transactional entry is an acquisition of 1,108 Restricted Stock Units as a compensation award, along with holdings entries that update totals of his direct and indirect equity positions.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/27/2026 - 06:30 PM EDT Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

STOOPS JEFFREY

(Last) (First) (Middle)

C/O SBA COMMUNICATIONS CORPORATION

8051 CONGRESS AVENUE

(Street)

BOCA RATON FLORIDA 33487

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP [ SBAC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			CHAIRMAN

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock								141,464.52	D
Class A Common Stock								259,863	I	By Limited Partnership(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(2)							(3)	(3)	Class A Common Stock	302		302	D
Restricted Stock Units	(2)							(4)	(4)	Class A Common Stock	663		663	D
Restricted Stock Units	(2)	05/22/2026		A		1,108		(5)	(5)	Class A Common Stock	1,108	$0	1,108	D

Explanation of Responses:

1. These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.

2. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

3. These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vested on May 2026; and 302 vest on May 1, 2027.

4. 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.

5. These restricted stock units vest in accordance with the following schedule: 369 vest on May 1, 2027; 369 vest on May 1, 2028; and 370 vest on May 1, 2029.

	/s/ Joshua Westerman, as Attorney-in-Fact	05/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)