SEC Form 4 · accession 0001209191-19-017548
SBA COMMUNICATIONS CORP · SBAC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Steven E Bernstein
Director · Other
Period of report
Mar 5, 2019
Accepted (ET)
Mar 6, 2019 · 7:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001034054
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class A Common StockF1 | Mar 5, 2019 | S | 15,454 | $182.51 | D | 15,606 | D | |
| Class A Common StockF2 | Mar 5, 2019 | S | 14,787 | $182.92 | D | 819 | D | |
| Class A Common StockF3 | holding | — | — | — | 165,142 | I | See Footnote |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Stock Options (Right to Buy)F4 | $50.35 | holding | — | — | — | — | May 17, 2019 | Class A Common Stock | 1,643 | 1,643 | D |
| Stock Options (Right to Buy)F4 | $79.67 | holding | — | — | — | — | May 9, 2020 | Class A Common Stock | 1,999 | 1,999 | D |
| Stock Options (Right to Buy)F4 | $96.80 | holding | — | — | — | — | May 8, 2021 | Class A Common Stock | 2,202 | 2,202 | D |
| Stock Options (Right to Buy)F5 | $113.55 | holding | — | — | — | — | May 21, 2022 | Class A Common Stock | 1,899 | 1,899 | D |
| Stock Options (Right to Buy)F6 | $100.00 | holding | — | — | — | — | May 13, 2023 | Class A Common Stock | 2,308 | 2,308 | D |
| Restricted Stock UnitsF7,F8 | — | holding | — | — | — | — | — | Class A Common Stock | 303 | 303 | D |
| Stock Options (Right to Buy)F9 | $132.00 | holding | — | — | — | — | May 18, 2024 | Class A Common Stock | 1,977 | 1,977 | D |
| Restricted Stock UnitsF7,F10 | — | holding | — | — | — | — | — | Class A Common Stock | 539 | 539 | D |
| Stock Options (Right to Buy)F11 | $157.51 | holding | — | — | — | — | May 17, 2025 | Class A Common Stock | 1,411 | 1,411 | D |
| Restricted Stock UnitsF7,F12 | — | holding | — | — | — | — | — | Class A Common Stock | 602 | 602 | D |
Explanation of responses
- F1Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $182.00 to $182.83 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
- F10These restricted stock units vest in accordance with the following schedule: 268 vest on May 1, 2018; 269 vest on May 1, 2019; and 270 vest on May 1, 2020.
- F11These options vest in accordance with the following schedule: 470 vest on May 1, 2019; 470 vest on May 1, 2020; and 471 vest on May 1, 2021.
- F12These restricted stock units vest in accordance with the following schedule: 200 vest on May 1, 2019; 201 vest on May 1, 2020; and 201 vest on May 1, 2021.
- F2Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $182.84 to $183.02 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.
- F3These shares are held by Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.
- F4These options are exercisable immediately.
- F5These options vest in accordance with the following schedule: 633 vest on the earlier of May 21, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; 633 vest on the earlier of May 21, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; and 633 vest on the earlier of May 21, 2018 or the day immediately prior to the 2018 annual meeting of shareholders.
- F6These options vest in accordance with the following schedule: 769 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 769 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 770 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders.
- F7Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
- F8These restricted stock units vest in accordance with the following schedule: 302 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 302 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 303 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders.
- F9These options vest in accordance with the following schedule: 658 vest on May 1, 2018; 659 vest on May 1, 2019; and 660 vest on May 1, 2020.