Welcome to our dedicated page for Sba Communications SEC filings (Ticker: SBAC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
SBA Communications Corporation filings document the regulatory record of a wireless tower REIT with Class A common stock listed on the Nasdaq Global Select Market. Form 8-K reports cover quarterly financial and operational results, guidance updates, cash dividend declarations, exhibits to earnings releases, and material events involving executive roles and governance.
The company's proxy materials disclose board matters, shareholder voting items, executive compensation and governance practices. Filing disclosures also address capital-structure matters, registered securities, financial condition and operating performance within SBA's communications-site leasing business.
SBA Communications Corporation is asking shareholders to vote on three items at its 2026 Annual Meeting: electing directors Steven E. Bernstein, Laurie Bowen and Amy E. Wilson to three‑year terms, an advisory approval of named executive officer pay, and ratification of Ernst & Young LLP as independent auditor for the 2026 fiscal year. The Board recommends a “FOR” vote on all three.
The proxy highlights 2025 performance, including deployment of over $2.3 billion of capital across portfolio expansion, dividend growth and share repurchases, and $1.9 billion in Adjusted EBITDA despite customer churn and foreign currency headwinds. SBA completed the Millicom International tower transaction in Central America, exited subscale markets in Colombia and Canada, repurchased $500 million of stock, and obtained investment‑grade ratings from two agencies.
The Board emphasizes strong governance: a classified ten‑member board with a non‑executive chair, a Lead Independent Director, fully independent Audit, Compensation, and Nominating and Corporate Governance Committees, and formal succession planning. Three independent directors have joined since 2022, and 37.5% of independent directors were newly elected in that timeframe. The company reports no material cybersecurity breaches over the past three years and outlines detailed cyber and risk oversight processes.
Executive pay is described as heavily performance‑ and equity‑based. For 2025, the CEO’s long‑term equity awards were 60% three‑year performance‑based RSUs and 40% time‑based RSUs; other executives received 50% performance‑based and 50% time‑based RSUs. The company maintains long‑standing “no‑fault” clawback policies, prohibits hedging and short sales by insiders, and ties incentive metrics to financial and operational goals intended to support long‑term shareholder value.
SBA Communications Corporation announced that Mark Ciarfella, its Executive Vice President of U.S. Operations, has notified the company of his intent to retire from his current title and roles effective December 31, 2026. He will remain with the company as a non-executive employee through March 7, 2027 to support the transition of his responsibilities. This extended timetable is designed to provide continuity in U.S. operations leadership while the company manages succession and handover.
SBA Communications Corp ownership filing: The Vanguard Group filed Amendment No. 13 to a Schedule 13G/A reporting 0 shares beneficially owned and 0% of the class. The filing explains an internal realignment effective January 12, 2026 that disaggregated certain Vanguard subsidiaries’ holdings.
The filing is signed by Ashley Grim, Head of Global Fund Administration, dated 03/27/2026. It states Vanguard and its managed accounts have rights to dividends/proceeds for reported securities but that no single other person holds more than 5% of the class.
SBA Communications president and CEO Brendan Thomas Cavanagh reported multiple equity award grants, vesting events, and related share dispositions. On March 5, 2026 he received 16,859 restricted stock units and 25,289 performance restricted stock units, each representing a contingent right to one share of Class A Common Stock.
On March 6, 2026 previously granted restricted stock units and performance restricted stock units vested, including PSUs awarded on March 6, 2023 that vested at 200% of target, making 8,670 shares of Class A Common Stock issuable. Several blocks of Class A Common Stock were disposed of at $195.69 per share to satisfy tax liabilities through share withholding, while Cavanagh’s direct Class A holdings changed through exercises and these tax-related dispositions.
The filing also notes additional indirect Class A holdings through Cavanagh Investments, LLC and Eagle SC LLC, with ownership interests held via family trusts and related entities.
SBA Communications EVP – Operations Mark R. Ciarfella reported multiple equity-compensation transactions in company securities. On March 5, 2026, he received grants of 6,717 restricted stock units and 6,716 performance restricted stock units, each representing a contingent right to one share of Class A Common Stock, with multi-year vesting and performance conditions.
On March 6, 2026, previously awarded restricted stock units and performance restricted stock units vested, including 2,144 performance units granted in 2023 that vested at 200% of target, making 4,288 shares of Class A Common Stock issuable. Several Class A Common Stock transactions coded “F” reflect shares delivered at $195.69 per share to cover exercise price or tax liabilities, and his direct Class A Common Stock holdings after these transactions were 42,820.9871 shares.
SBA Communications EVP and President – International Richard M. Cane reported multiple equity award grants, vestings, and related share conversions. On March 5, 2026, he received 6,717 restricted stock units and 6,716 performance restricted stock units, each representing a contingent right to receive one share of Class A Common Stock.
On March 6, 2026, previously granted restricted stock units and performance restricted stock units vested and were converted into Class A Common Stock, including a 2023 performance award of 2,081 PSUs that vested at 200% of target, making 4,162 shares issuable based on the performance condition. Several time-based restricted stock unit tranches of 694, 1,543, and 1,920 units also vested and converted into shares.
To cover tax liabilities, Cane had Class A Common Stock automatically withheld in multiple transactions coded “F,” totaling several hundred shares at a price of 195.6900 per share, as noted in the footnote that these shares were withheld for tax payment. After all transactions, he directly owned 12,404.064 shares of Class A Common Stock, which includes 238.733 shares acquired through a dividend reinvestment and employee stock purchase plan.
SBA Communications Executive VP and General Counsel Joshua Koenig reported multiple equity compensation events in Class A Common Stock and related units. On March 5, he received grants of 6,717 restricted stock units and 6,716 performance restricted stock units, each representing a contingent right to one share of Class A Common Stock.
Previously awarded performance restricted stock units from March 6, 2023 vested on March 6, 2026 at 200% of target, so 3,930 shares of Class A Common Stock became issuable. Other performance units were forfeited where minimum performance criteria were not met. Koenig also exercised or converted several restricted and performance units into Class A Common Stock and had shares withheld at $195.69 per share to cover tax liabilities. After these transactions, he held 10,725.639 Class A Common shares directly.
SBA Communications executive vice president and chief financial officer Marc Montagner reported several equity award transactions. On March 6, 2026, he acquired Class A Common Stock through exercises of restricted stock units and disposed of shares to cover tax liabilities at a reported price of $195.69 per share. Earlier, on March 5, 2026, he received grants of 8,561 restricted stock units and 8,561 performance restricted stock units, each representing the right to receive one Class A share, with multi‑year vesting and performance conditions that can adjust the number earned up to 200%.
SBA Communications EVP - Site Leasing Donald Day reported equity award activity and related tax withholding. On March 5, 2026, he was granted 5,005 restricted stock units and 5,005 performance restricted stock units, each representing a contingent right to one share of Class A Common Stock. On March 6, 2026, several previously granted RSU and PSU awards vested, including 809 performance RSUs from March 6, 2023 that vested at 200% of target, making 1,618 Class A shares issuable. The company withheld portions of the vested stock at $195.69 per share to cover tax liabilities. Following these exercises, conversions and withholdings, Day directly owned 9,706.031 shares of SBA Communications Class A Common Stock.
SBA Communications Corp officer Saul Kredi reported multiple equity award transactions in company stock. On March 5, 2026, he received a grant of 2,845 restricted stock units, each representing a contingent right to one share of Class A Common Stock.
On March 6, 2026, previously granted restricted and performance stock units vested and were converted into Class A Common Stock through several derivative exercises. Some shares were disposed of at $195.69 per share to cover tax liabilities, and a portion of performance units was forfeited based on performance results.