SBA Communications director settles RSUs, covers taxes

SBA Communications director George R. Krouse Jr. reported routine equity compensation activity on May 1, 2026.

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Rhea-AI Filing Summary

SBA Communications director George R. Krouse Jr. reported routine equity compensation activity on May 1, 2026. Three blocks of restricted stock units for 248, 302, and 331 units were settled into the same number of Class A Common shares, for a total of 881 shares acquired.

To cover related tax obligations, 325.968 Class A Common shares were withheld, a non-market disposition labeled as payment of tax liability. After these transactions, Krouse directly owned 8,810.636 Class A Common shares.

The filing also shows fully vested stock options covering 501 underlying Class A Common shares, with an exercise price of $212.3100 per share and an expiration date of May 16, 2026.

Insider Trade Summary

881 shares exercised/converted

Exercise 8 txns

Insider Krouse George R Jr

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	248	$0.00	$0.00
Exercise	Restricted Stock Units	302	$0.00	$0.00
Exercise	Restricted Stock Units	331	$0.00	$0.00
Exercise	Class A Common Stock	248	$0.00	$0.00
Exercise	Class A Common Stock	302	$0.00	$0.00
Exercise	Class A Common Stock	331	$0.00	$0.00
Exercise Price or Tax Liability	Class A Common Stock	325.968	$221.20	$72K
holding	Stock Options (Right to Buy)	--	--	--

Holdings After Transaction: Restricted Stock Units — 965 contracts (Direct); Class A Common Stock — 8,810.636 shares (Direct); Stock Options (Right to Buy) — 501 contracts (Direct)

Footnotes (9)

F1. On May 1, 2026, 248 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F2. On May 1, 2026, 302 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F3. On May 1, 2026, 331 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
F4. Shares withheld for the payment of tax liability.
F5. These stock options are fully vested and exercisable.
F6. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F7. 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.
F8. 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.
F9. 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

RSU settlement 1: 248 shares RSU settlement 2: 302 shares RSU settlement 3: 331 shares +3 more

6 metrics

RSU settlement 1 248 shares Restricted stock units settled into Class A Common on May 1, 2026

RSU settlement 2 302 shares Restricted stock units settled into Class A Common on May 1, 2026

RSU settlement 3 331 shares Restricted stock units settled into Class A Common on May 1, 2026

Shares withheld for taxes 325.968 shares Class A Common shares withheld to pay tax liability

Post-transaction holdings 8,810.636 shares Class A Common shares directly owned after transactions

Remaining stock options 501 underlying shares Options fully vested at $212.3100, expiring May 16, 2026

Key Terms

Restricted Stock Units, tax liability, fully vested and exercisable, contingent right, +1 more

5 terms

Restricted Stock Units financial

"Restricted Stock Units, transaction_shares 331.0000, underlying 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.

tax liability financial

"Shares withheld for the payment of tax liability."

fully vested and exercisable financial

"These stock options are fully vested and exercisable."

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share"

Stock Options (Right to Buy) financial

"security_title: Stock Options (Right to Buy), exercise price 212.3100"

FAQ

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

What insider transactions did SBA Communications (SBAC) director George R. Krouse Jr. report?

George R. Krouse Jr. reported settlement of restricted stock units into Class A Common Stock and a share withholding for taxes. Three RSU blocks converted into 881 shares, while 325.968 shares were withheld to pay related tax liability.

How many SBA Communications (SBAC) shares does George R. Krouse Jr. hold after this Form 4?

After the reported transactions, George R. Krouse Jr. directly holds 8,810.636 shares of SBA Communications Class A Common Stock. This figure reflects the RSU settlements and the shares withheld to satisfy tax obligations on May 1, 2026.

What restricted stock unit (RSU) settlements were disclosed for SBA Communications (SBAC)?

The filing shows RSU settlements of 248, 302, and 331 units, each converting into an equal number of SBA Communications Class A Common shares. In total, 881 shares were issued to the reporting person as part of these equity compensation events.

Why were 325.968 SBA Communications (SBAC) shares disposed of in this Form 4?

The 325.968 Class A Common shares were withheld to pay the reporting person’s tax liability related to equity compensation. The transaction is coded “F,” indicating payment of tax obligations rather than an open-market sale or discretionary share disposal.

What stock options does the SBA Communications (SBAC) director still hold?

The director holds fully vested stock options linked to 501 underlying Class A Common shares with a stated exercise price of $212.3100 per share. These stock options are exercisable and carry an expiration date of May 16, 2026, according to the filing.

Are the SBA Communications (SBAC) insider transactions in this Form 4 open-market trades?

No, the disclosed transactions involve RSU settlements and tax withholding, not open-market trades. Shares were issued from restricted stock units and a portion was withheld to cover tax liability, making these routine equity compensation and tax events rather than market purchases or sales.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/05/2026 - 06:30 PM EDT

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^*

Krouse George R Jr

(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)	Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/01/2026		M		248	A	⁽¹⁾	8,503.604	D
Class A Common Stock	05/01/2026		M		302	A	⁽²⁾	8,805.604	D
Class A Common Stock	05/01/2026		M		331	A	⁽³⁾	9,136.604	D
Class A Common Stock	05/01/2026		F		325.968⁽⁴⁾	D	$221.2	8,810.636	D

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$212.31							⁽⁵⁾	05/16/2026	Class A Common Stock	501		501	D
Restricted Stock Units	⁽⁶⁾	05/01/2026		M			248	⁽⁷⁾	⁽⁷⁾	Class A Common Stock	248	⁽¹⁾	0	D
Restricted Stock Units	⁽⁶⁾	05/01/2026		M			302	⁽⁸⁾	⁽⁸⁾	Class A Common Stock	302	⁽²⁾	302	D
Restricted Stock Units	⁽⁶⁾	05/01/2026		M			331	⁽⁹⁾	⁽⁹⁾	Class A Common Stock	331	⁽³⁾	663	D

Explanation of Responses:

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.

2. On May 1, 2026, 302 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.

3. On May 1, 2026, 331 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.

4. Shares withheld for the payment of tax liability.

5. These stock options are fully vested and exercisable.

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

7. 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.

8. 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.

9. 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.

	/s/ Joshua Westerman, as Attorney-in-Fact	05/05/2026
	** 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)

Source: View Original Filing on SEC EDGAR