SBA Communications director exercises stock options

SBA Communications director Jack Langer reported routine equity compensation activity.

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Form Type

Rhea-AI Filing Summary

SBA Communications director Jack Langer reported routine equity compensation activity. He exercised stock options covering 1,501 shares of Class A Common Stock at an exercise price of $212.31 per share and, in a separate related transaction, 1,496 shares were withheld at $213.61 per share to cover tax obligations and exercise costs, which is not an open-market sale.

After these transactions, he holds 8,704.223 Class A shares directly and 10,630.91 shares indirectly through The Jack Langer 2012 Irrevocable Family Trust, for which he disclaims beneficial ownership beyond any pecuniary interest. He also holds restricted stock units representing 663 and 302 underlying shares, vesting in tranches between May 1, 2025 and May 1, 2028.

Insider Trade Summary

1,501 shares exercised/converted

Exercise 6 txns

Insider LANGER JACK

Role Director

Type	Security	Shares	Price	Value
Exercise	Stock Options (Right to Buy)	1,501	$0.00	$0.00
Exercise	Class A Common Stock	1,501	$212.31	$319K
Exercise Price or Tax Liability	Class A Common Stock	1,496	$213.61	$320K
holding	Restricted Stock Units	--	--	--
holding	Restricted Stock Units	--	--	--
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Stock Options (Right to Buy) — 0 contracts (Direct); Class A Common Stock — 8,704.223 shares (Direct); Restricted Stock Units — 965 contracts (Direct); Class A Common Stock — 10,630.91 shares (Indirect, By Trust)

Footnotes (6)

F1. Shares withheld for payment of tax liability and exercise price.
F2. The securities are held by The Jack Langer 2012 Irrevocable Family Trust for estate planning purposes. The trustee of the trust is the reporting person's spouse. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.
F3. These options are fully vested and exercisable.
F4. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
F5. 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.
F6. 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

Options exercised: 1,501 shares Option exercise price: $212.31 per share Shares withheld for taxes: 1,496 shares +5 more

8 metrics

Options exercised 1,501 shares Stock options exercised into Class A Common Stock

Option exercise price $212.31 per share Exercise price for 1,501 stock options

Shares withheld for taxes 1,496 shares Tax and exercise-cost withholding on Class A shares

Withholding price $213.61 per share Value used for tax-withholding disposition

Direct holdings after transactions 8,704.223 shares Class A Common Stock held directly by Langer

Indirect trust holdings 10,630.91 shares Class A Common Stock held by 2012 Irrevocable Family Trust

RSUs underlying shares (grant 1) 663 shares Restricted stock units tied to Class A Common Stock

RSUs underlying shares (grant 2) 302 shares Additional restricted stock units vesting 2025–2027

Key Terms

Restricted Stock Units, Stock Options (Right to Buy), tax-withholding disposition, irrevocable family trust, +1 more

5 terms

Restricted Stock Units financial

"The filing shows restricted stock units linked to 663 and 302 underlying Class A shares."

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

"He exercised stock options labeled as “Stock Options (Right to Buy)” for 1,501 underlying Class A shares."

tax-withholding disposition financial

"1,496 Class A shares were withheld to pay tax and exercise obligations, a tax-withholding disposition."

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

irrevocable family trust financial

"The securities are held by The Jack Langer 2012 Irrevocable Family Trust for estate planning purposes."

pecuniary interest financial

"The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein."

FAQ

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

What insider transactions did Jack Langer report in SBA Communications (SBAC) Form 4?

Jack Langer reported exercising stock options for 1,501 Class A shares at $212.31 per share. Separately, 1,496 shares were withheld at $213.61 per share to cover tax liabilities and exercise costs, a non-market disposition typical of equity compensation events.

Did Jack Langer sell SBA Communications (SBAC) shares on the open market?

The filing shows 1,496 Class A shares were withheld to pay tax and exercise obligations, not sold in the open market. This tax-withholding disposition is a standard mechanism and does not represent a discretionary sale into the market.

How many SBA Communications (SBAC) shares does Jack Langer hold after the reported transactions?

After the reported transactions, Jack Langer directly holds 8,704.223 Class A Common shares. He also has 10,630.91 shares held indirectly through The Jack Langer 2012 Irrevocable Family Trust, where he disclaims beneficial ownership beyond any pecuniary interest.

What stock options did Jack Langer exercise in the SBA Communications (SBAC) filing?

He exercised stock options labeled as “Stock Options (Right to Buy)” for 1,501 underlying Class A shares at an exercise price of $212.31. Following the exercise, the option position was fully used, with zero options remaining under that specific grant.

What restricted stock units does Jack Langer hold in SBA Communications (SBAC)?

The filing shows restricted stock units linked to 663 and 302 underlying Class A shares. These units vest in scheduled tranches on May 1, 2025, 2026, 2027, and 2028, each RSU converting into one share of Class A Common Stock upon vesting.

How are trust-held SBA Communications (SBAC) shares attributed in Jack Langer’s Form 4?

10,630.91 Class A shares are held by The Jack Langer 2012 Irrevocable Family Trust, with Langer’s spouse as trustee. Langer disclaims beneficial ownership of these, except to the extent of his pecuniary interest, meaning they are primarily attributed to the trust structure.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 05/15/2026 - 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^*

LANGER JACK

(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)
05/13/2026

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	05/13/2026		M		1,501	A	$212.31	10,200.223	D
Class A Common Stock	05/13/2026		F		1,496⁽¹⁾	D	$213.61	8,704.223	D
Class A Common Stock								10,630.91	I	By Trust⁽²⁾

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	05/13/2026		M			1,501	⁽³⁾	05/16/2026	Class A Common Stock	1,501	$0	0	D
Restricted Stock Units	⁽⁴⁾							⁽⁵⁾	⁽⁵⁾	Class A Common Stock	302		302	D
Restricted Stock Units	⁽⁴⁾							⁽⁶⁾	⁽⁶⁾	Class A Common Stock	663		663	D

Explanation of Responses:

1. Shares withheld for payment of tax liability and exercise price.

2. The securities are held by The Jack Langer 2012 Irrevocable Family Trust for estate planning purposes. The trustee of the trust is the reporting person's spouse. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.

3. These options are fully vested and exercisable.

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

5. 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.

6. 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, Attorney-in-Fact	05/15/2026
	** 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