Vanguard (SBAC) Amendment No.13: Disaggregated reporting after Jan 12, 2026 realignment

Rhea-AI Filing Summary

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.

Insights

Institutional Ownership Analyst

Large passive manager reports no beneficial stake after internal realignment.

The filing shows 0 shares and 0% beneficial ownership, reflecting Vanguard’s disclosure that subsidiaries now report separately following a January 12, 2026 internal realignment. This is an administrative ownership reporting change rather than an active trade.

Cash‑flow treatment and any historical holdings are not specified in the excerpt; subsequent filings from Vanguard’s subsidiaries may list prior positions individually.

Securities Compliance Specialist

Amendment documents disaggregation under SEC guidance; compliance context only.

The notice cites SEC Release No. 34-39538 (January 12, 1998) as the basis for separate reporting by subsidiaries and business divisions. The amendment clarifies voting and dispositive powers as zero in this filing.

Materiality is routine: this amendment documents reallocation of reporting responsibility; it does not state enforcement actions, transactions, or holdings that would change investor thesis.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 13)

SBA Communications Corp

(Name of Issuer)

Common Stock

(Title of Class of Securities)

78410G104

(CUSIP Number)

03/13/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 78410G104

1

Names of Reporting Persons

The Vanguard Group

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: SBA Communications Corp
(b)	Address of issuer's principal executive offices: 8051 Congress Avenue, Boca Raton, FL, 33487
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/27/2026

FAQ

What does SBA Communications (SBAC) Schedule 13G/A Amendment No. 13 report?

The filing reports that The Vanguard Group beneficially owns 0 shares and 0% of SBA Communications. It explains an internal realignment dated January 12, 2026 causing certain subsidiaries to report separately.

Why does Vanguard say it no longer has beneficial ownership after January 12, 2026?

Vanguard cites SEC Release No. 34-39538 to justify disaggregated reporting after an internal realignment on January 12, 2026, stating subsidiaries now report holdings separately and Vanguard no longer is deemed to beneficially own those subsidiary-held securities.

Who signed the Schedule 13G/A amendment for SBAC and when?

The amendment is signed by Ashley Grim, Head of Global Fund Administration, for The Vanguard Group, with an execution date of 03/27/2026, certifying the statements in the filing.

Does the filing show any party holds more than 5% of SBAC shares?

The filing states that no one other person's interest reported here exceeds 5%. It also notes that Vanguard-managed accounts have rights to dividends/proceeds but no single other person exceeds the 5% threshold.