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SBA Communications (SBAC) director Mary Chan awarded 1,108 RSUs and holds 6,421 shares

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

Rhea-AI Filing Summary

SBA Communications director Mary S. Chan received a grant of 1,108 Restricted Stock Units (RSUs) for Class A Common Stock at an exercise price of $0.0000 per unit. Each RSU is a contingent right to one share. After this grant, she holds 6,421.5425 Class A Common shares directly, along with RSU awards covering 663, 302 and 1,108 underlying shares that vest in stages from 2025 through 2029.

Positive

  • None.

Negative

  • None.
Insider Chan Mary S
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 -- -- --
Holdings After Transaction: Restricted Stock Units — 2,073 shares (Direct); Class A Common Stock — 6,421.5425 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.
Common shares held directly 6,421.5425 shares Class A Common Stock after reported transactions
New RSU grant 1,108 units Restricted Stock Units granted with $0.0000 exercise price
Existing RSU award 663 units RSUs for Class A Common Stock, direct ownership
Existing RSU award 302 units RSUs for Class A Common Stock, direct ownership
RSU exercise price $0.0000 per unit Exercise price for reported RSU awards
Restricted Stock Units financial
"Each restricted stock unit represents a contingent right to receive one share of 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.
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.
contingent right financial
"Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock."
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.

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

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider activity did Mary S. Chan report at SBA Communications (SBAC)?
Mary S. Chan, a director of SBA Communications, reported receiving a grant of 1,108 Restricted Stock Units. These RSUs are compensation-based awards that each represent a contingent right to receive one share of Class A Common Stock in the future, subject to vesting.

How many Restricted Stock Units did Mary S. Chan receive in this SBAC Form 4 filing?
Mary S. Chan received 1,108 Restricted Stock Units tied to SBA Communications Class A Common Stock. The RSUs have a stated exercise price of $0.0000, meaning no cash payment is required upon settlement, and are scheduled to vest over several years according to the disclosed timetable.

What are Mary S. Chan’s reported Class A Common Stock holdings in SBA Communications (SBAC)?
After the reported transactions, Mary S. Chan directly owns 6,421.5425 shares of SBA Communications Class A Common Stock. In addition, she holds multiple RSU awards that can settle into further shares as they vest according to the specified schedules through 2029.

What RSU balances does Mary S. Chan hold in SBA Communications (SBAC) after the grant?
Following the grant, Mary S. Chan holds RSU awards covering 663, 302, and 1,108 underlying Class A Common shares. These RSUs vest in tranches between 2025 and 2029, providing potential future share delivery as service-based conditions are satisfied.

How do the RSUs granted to Mary S. Chan in SBAC vest over time?
The filing explains that the RSUs vest in stages over several years. For example, one 302-unit award vests across 2025, 2026, and 2027, while other awards vest across later years up to 2029, aligning compensation with continued board service.

What does a Restricted Stock Unit mean in the context of SBA Communications (SBAC)?
A Restricted Stock Unit at SBA Communications represents a contingent right to receive one share of Class A Common Stock in the future. Delivery occurs when vesting conditions, typically service-based requirements over time, are met, rather than through an immediate stock purchase.
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*
Chan Mary S
(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)
05/22/2026		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 Stock6,421.5425D
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
Restricted Stock Units(1) (2) (2)Class A Common Stock302302D
Restricted Stock Units(1) (3) (3)Class A Common Stock663663D
Restricted Stock Units(1)05/22/2026A1,108 (4) (4)Class A Common Stock1,108$01,108D
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-Fact05/27/2026
** 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