BEEBE KEVIN L 4

What Happened
Kevin L. Beebe, a director of SBA Communications Corp. (SBAC), had restricted stock units (RSUs) that vested and settled on May 1, 2026, resulting in the acquisition of 881 shares of Class A common stock (248 + 302 + 331). The filing shows these were conversions/settlements of derivative awards (Form 4 code M). No cash price is reported for the shares (N/A), and the transaction appears to be a routine equity award settlement rather than an open-market purchase or sale.

Key Details

• Transaction date: May 1, 2026; Form 4 filed May 5, 2026 (timely—filed within the 2 business‑day deadline).
• Shares received: 248, 302, and 331 in three separate RSU settlements, totaling 881 shares. Reported price: N/A (stock-settled RSUs).
• Shares owned after the transaction: Not specified in the filing.
• Notable footnotes:
  • F1–F3: Each listed RSU tranche was settled for an equal number of Class A shares on May 1, 2026.
  • F5: Each RSU equals a contingent right to one share of Class A common stock.
  • F6–F8: Vesting schedules for the tranches (shows prior and future vesting dates for related grants).
  • F4: Filing notes the reporting person also holds fully vested/exercisable stock options (separate from these RSU settlements).
• Filing does not indicate sales, tax-withholding share retentions, a 10b5-1 plan, or other dispositions tied to these settlements.

Context

• This was a settlement of previously awarded RSUs (compensation/retention), which is generally routine and not a directional trade signal. The Form entries show the derivative units were converted into shares (hence both "acquired" and "disposed" derivative lines), meaning the RSU rights ceased and underlying stock was issued.
• No immediate sale of the newly issued shares is shown in this filing, and no cashless exercise or proceeds are reported.