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SBA Communications (NASDAQ: SBAC) director exercises options, withholds shares for taxes

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

SBA Communications Corp director Kevin L. Beebe reported routine equity compensation activity involving stock options, tax withholding, and restricted stock units. He exercised stock options for 1,501 shares of Class A Common Stock at an exercise price of $212.31 per share, and 1,492 shares of Class A Common Stock were withheld at $213.61 per share to cover the exercise price and related tax liability. After these transactions, he directly held 16,644.119 shares of Class A Common Stock. He also holds restricted stock units representing 663 and 302 underlying shares of Class A Common Stock, which vest in tranches from May 1, 2025 through May 1, 2028, with each unit representing a contingent right to receive one share.

Positive

  • None.

Negative

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Insider BEEBE KEVIN L
Role null
Type Security Shares Price Value
Exercise Stock Options (Right to Buy) 1,501 $0.00 --
Exercise Class A Common Stock 1,501 $212.31 $319K
Tax Withholding Class A Common Stock 1,492 $213.61 $319K
holding Restricted Stock Units -- -- --
holding Restricted Stock Unit -- -- --
Holdings After Transaction: Stock Options (Right to Buy) — 0 shares (Direct, null); Class A Common Stock — 18,136.119 shares (Direct, null); Restricted Stock Units — 302 shares (Direct, null); Restricted Stock Unit — 663 shares (Direct, null)
Footnotes (1)
  1. Shares withheld for the payment of tax liability and exercise price. These stock options are fully vested and 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: 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.
Options exercised 1,501 shares Class A Common Stock acquired via option exercise on May 13, 2026
Exercise price $212.31/share Exercise price for stock options converted on May 13, 2026
Shares withheld for taxes 1,492 shares Class A Common Stock withheld to cover exercise price and tax liability
Withholding price $213.61/share Value used for tax-withholding disposition of Class A Common Stock
Shares held after transactions 16,644.119 shares Direct Class A Common Stock ownership following Form 4 transactions
RSUs block 1 663 units Restricted stock units, each for one share of Class A Common Stock
RSUs block 2 302 units Additional restricted stock units tied to Class A Common Stock
Tax-withholding shares summary 1 transaction, 1,492 shares Tax-withholding disposition count and shares per transactionSummary
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.
tax-withholding disposition financial
"Transaction code F is described as payment of exercise price or tax liability by delivering securities."
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.
stock options financial
"These stock options are fully vested and exercisable."
Stock options are agreements that give a person the right to buy or sell a company's stock at a specific price within a certain time frame. They are often used as a reward or incentive, similar to a coupon that can be used later if the stock price rises, allowing the holder to make a profit.
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.
exercise or conversion of derivative security financial
"Transaction code M is described as exercise or conversion of derivative security."
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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)
XDirector10% 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)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock05/13/2026M1,501A$212.3118,136.119D
Class A Common Stock05/13/2026F1,492(1)D$213.6116,644.119D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Stock Options (Right to Buy)$212.3105/13/2026M1,501 (2)05/16/2026Class A Common Stock1,501$00D
Restricted Stock Units(3) (4) (4)Class A Common Stock302302D
Restricted Stock Unit(3) (5) (5)Class A Common Stock663663D
Explanation of Responses:
1. Shares withheld for the payment of tax liability and exercise price.
2. These stock options are fully vested and exercisable.
3. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
4. 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.
5. 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-Fact05/15/2026
** Signature of Reporting PersonDate
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

FAQ

What insider transactions did SBAC director Kevin L. Beebe report on this Form 4?

Kevin L. Beebe reported exercising stock options for 1,501 shares of Class A Common Stock and a related tax-withholding disposition of 1,492 shares. The filing also updates his holdings of restricted stock units tied to Class A Common Stock.

How many SBA Communications (SBAC) shares does Kevin L. Beebe hold after the reported transactions?

After the reported transactions, Kevin L. Beebe directly holds 16,644.119 shares of SBA Communications Class A Common Stock. This figure reflects the stock option exercise and shares withheld to cover the exercise price and tax obligations.

What was the exercise price of the SBA Communications (SBAC) stock options in this Form 4?

The stock options were exercised to acquire 1,501 shares of SBA Communications Class A Common Stock at an exercise price of $212.31 per share. These options were fully vested and exercisable according to the filing’s footnotes.

Why were 1,492 SBA Communications (SBAC) shares disposed of in Kevin L. Beebe’s Form 4?

The 1,492 shares of Class A Common Stock were withheld to pay the exercise price and related tax liability, not sold in an open-market transaction. This is recorded with transaction code F as a tax-withholding disposition.

What restricted stock units does Kevin L. Beebe hold in SBA Communications (SBAC)?

He holds restricted stock units corresponding to 663 and 302 underlying shares of Class A Common Stock. Each unit equals one share and vests in scheduled tranches between May 1, 2025 and May 1, 2028, subject to the plan terms.

Do the SBA Communications (SBAC) Form 4 transactions indicate any open-market buying or selling?

The Form 4 shows a stock option exercise and tax-withholding disposition, but no open-market purchases or sales. Transaction code F reflects shares withheld for taxes and exercise costs rather than discretionary market trades.