<SEC-DOCUMENT>0001415889-25-007298.txt : 20250306
<SEC-HEADER>0001415889-25-007298.hdr.sgml : 20250306
<ACCEPTANCE-DATETIME>20250306183013
ACCESSION NUMBER:		0001415889-25-007298
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250304
FILED AS OF DATE:		20250306
DATE AS OF CHANGE:		20250306

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CANE RICHARD M
		CENTRAL INDEX KEY:			0001957645
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16853
		FILM NUMBER:		25716762

	MAIL ADDRESS:	
		STREET 1:		C/O SBA COMMUNICATIONS CORPORATION
		STREET 2:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SBA COMMUNICATIONS CORP
		CENTRAL INDEX KEY:			0001034054
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				650716501
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
		BUSINESS PHONE:		5612269345

	MAIL ADDRESS:	
		STREET 1:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
</SEC-HEADER>
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    <footnotes>
        <footnote id="F1">Includes an aggregate of 87.72 shares acquired pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan.</footnote>
        <footnote id="F2">Shares withheld for the payment of tax liability.</footnote>
        <footnote id="F3">These performance restricted stock units (PSUs) were awarded on March 4, 2022 which were subject to increase or decrease based on the results of the performance condition. These PSUs vested at 200% of target based on the results of the performance condition, such that 1,138 shares of Class A Common Stock vested.</footnote>
        <footnote id="F4">Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F5">These restricted stock units vest in accordance with the following schedule: 189 vest on the first anniversary of the grant date and 190 vest on each of the second and third anniversaries of the grant date (March 4, 2022).</footnote>
        <footnote id="F6">Each performance restricted stock unit represents a contingent right to received one share of Class A Common Stock.</footnote>
        <footnote id="F7">The performance restricted stock units have a three-year performance period and to the extent earned vest on March 4, 2025. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.</footnote>
        <footnote id="F8">The PSUs previously reported as acquired by the reporting person were forfeited because the minimum performance criteria required for vesting was not met.</footnote>
        <footnote id="F9">The performance restricted stock units have a three-year performance period and to the extent earned vest on March 4, 2025. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.</footnote>
        <footnote id="F10">These restricted stock units vest in accordance with the following schedule: 693 vest on the first anniversary of the grant date and 694 vest on each of the second and third anniversaries of the grant date (March 6, 2023).</footnote>
        <footnote id="F11">The performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.</footnote>
        <footnote id="F12">The performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.</footnote>
        <footnote id="F13">These restricted stock units vest in accordance to the following schedule; 1,543 vest on the first through third anniversaries of the grant date (March 6, 2024).</footnote>
        <footnote id="F14">These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period.  Once earned, the performance restricted stock units will vest on March 6, 2027. The number of shares of Class A Common Stock that will be earned subject to decrease or increase (up to 200%) based on the results of the performance conditions.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua Koenig, Attorney-in-Fact</signatureName>
        <signatureDate>2025-03-06</signatureDate>
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