SBA Communications director granted 1,108 RSUs

SBA Communications director Kevin L. Beebe reported equity holdings and a new stock-based award.

Rhea-AI Filing Summary

SBA Communications director Kevin L. Beebe reported equity holdings and a new stock-based award. The Form 4 shows a grant of 1,108 Restricted Stock Units, each representing a contingent right to receive one share of Class A Common Stock at no exercise price. After this grant, Beebe’s reported direct holdings include 16,644.119 shares of Class A Common Stock and several RSU awards with different vesting schedules.

One RSU grant is scheduled so that 302 units vested on May 1, 2025, 302 vested on May 1, 2026, and 302 will vest on May 1, 2027. Another provides 331 units that vested on May 1, 2026, 331 vesting on May 1, 2027, and 332 vesting on May 1, 2028. The newly granted 1,108 RSUs vest in three annual installments of 369, 369, and 370 units on May 1 of 2027, 2028, and 2029, respectively, illustrating a multi‑year, service-based compensation structure.

Insider Trade Summary

Grant/Award: 1,108 shares

Grant/Award 4 txns

Insider BEEBE KEVIN L

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 Unit	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Restricted Stock Units — 1,410 contracts for 302 underlying shares (Direct); Restricted Stock Unit — 663 contracts (Direct); Class A Common Stock — 16,644.119 shares (Direct)

Footnotes (4)

1. F1. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
2. F2. 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.
3. F3. 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.
4. F4. 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 units Common shares held: 16,644.119 shares Existing RSU tranche: 302 units +4 more

7 metrics

New RSU grant 1,108 units Restricted Stock Units granted with $0.0000 exercise price

Common shares held 16,644.119 shares Class A Common Stock held directly after reported transactions

Existing RSU tranche 302 units Vested on May 1, 2025 under an earlier RSU schedule

Second RSU vesting 331 units Vested on May 1, 2026 under another RSU grant

Future vesting 2027 302 + 331 + 369 units RSUs scheduled to vest on May 1, 2027 across three grants

Future vesting 2028 331 + 369 units RSUs scheduled to vest on May 1, 2028 across two grants

Future vesting 2029 370 units RSUs scheduled to vest on May 1, 2029 from new grant

Key Terms

Restricted Stock Unit, Class A Common Stock, vest, contingent right, +1 more

5 terms

Restricted Stock Unit financial

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

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

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.

vest financial

"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."

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

contingent right financial

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

exercise price financial

"conversion_or_exercise_price: "0.0000" for the Restricted Stock Units."

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

FAQ

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

What insider transaction did Kevin L. Beebe report for SBA Communications (SBAC)?

Kevin L. Beebe reported receiving a grant of 1,108 Restricted Stock Units. These RSUs are stock-based compensation that convert into Class A Common Stock over time, aligning the director’s incentives with long-term shareholder interests through multi-year vesting schedules.

How many SBA Communications (SBAC) shares does Kevin L. Beebe hold after this Form 4?

After the reported transactions, Kevin L. Beebe directly holds 16,644.119 shares of Class A Common Stock. In addition, he holds multiple Restricted Stock Unit awards that will convert into additional shares as they vest over several future vesting dates.

What are the vesting terms of Kevin L. Beebe’s new 1,108 RSU award at SBA Communications (SBAC)?

The 1,108 Restricted Stock Units vest in three equal-time tranches: 369 units on May 1, 2027, 369 units on May 1, 2028, and 370 units on May 1, 2029. Each vested unit converts into one share of Class A Common Stock.

How do Kevin L. Beebe’s earlier SBA Communications (SBAC) RSU grants vest?

One RSU grant vests in three installments of 302 units on May 1, 2025, 2026, and 2027. Another vests 331 units on May 1, 2026, 331 on May 1, 2027, and 332 on May 1, 2028, providing staggered long-term equity compensation.

Does the RSU grant to Kevin L. Beebe at SBA Communications (SBAC) require a purchase price?

The reported Restricted Stock Units have an exercise price of $0.0000 per unit. This means Beebe is not required to pay a purchase price when the RSUs vest; each vested unit converts into one share of Class A Common Stock.

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^*

BEEBE KEVIN L

(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)
05/22/2026

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								16,644.119	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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)							(2)	(2)	Class A Common Stock	302		302	D
Restricted Stock Unit	(1)							(3)	(3)	Class A Common Stock	663		663	D
Restricted Stock Units	(1)	05/22/2026		A		1,108		(4)	(4)	Class A Common Stock	1,108	$0	1,108	D

Explanation of Responses:

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

2. 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.

3. 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.

4. 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)