BEEBE KEVIN L 4

What Happened Kevin L. Beebe, a director of SBA Communications (SBAC), exercised 1,501 stock options on 2026-05-13, resulting in acquisition of 1,501 shares valued at about $318,677 (exercise basis shown at $212.31/share). To cover the exercise price and/or tax withholding, 1,492 of those shares were withheld/disposed (reported at ~$213.61/share, value ~$318,706). Net result: Beebe received 9 net shares from this transaction.

Key Details

• Transaction date: 2026-05-13; Form 4 filed 2026-05-15 (timely filing).
• Exercise (code M): 1,501 options exercised into 1,501 shares @ $212.31 (value reported $318,677).
• Tax/price payment (code F): 1,492 shares withheld/disposed @ $213.61 (value reported $318,706).
• Net shares retained from this event: 9 shares (1,501 acquired − 1,492 withheld).
• Relevant footnotes: F1 = shares withheld to pay tax liability/exercise price; F2 = options were fully vested and exercisable.
• Shares owned after the transaction are not specified in the provided extract.

Context This was an option exercise with a cashless-style settlement (shares withheld to cover taxes/exercise costs), a common administrative transaction that does not necessarily signal a buy or sell intent in the open market. The options were fully vested, so no vesting requirement prevented exercise. As always, exercises paid with withheld shares are routine and should be interpreted differently from open-market purchases or outright sales.