BEEBE KEVIN L 4

What Happened

• Kevin L. Beebe, a director of SBA Communications Corp. (SBAC), received a grant of 1,108 restricted stock units (RSUs) on May 22, 2026. The award was reported as a derivative grant with $0 paid (i.e., no cash consideration).
• These RSUs are a contingent right to receive shares of Class A common stock upon vesting; they were granted as compensation rather than an open‑market purchase or sale.

Key Details

• Transaction date: May 22, 2026; reported on Form 4 filed May 27, 2026 (filed 5 days after the transaction — Form 4s are generally due within 2 business days, so this filing may be late).
• Consideration: $0.00 (award/grant of RSUs).
• RSU specifics: See footnotes — F1 defines RSUs as rights to one share each. The 1,108-unit grant vests per F4: 369 RSUs on May 1, 2027; 369 on May 1, 2028; and 370 on May 1, 2029.
• Other RSU tranches mentioned in the filing (F2, F3) show additional staggered vesting schedules for previously granted units (examples: 302-unit and 331-unit tranches with vesting across 2025–2028).
• Shares owned after the transaction are not specified in the provided data; consult the full Form 4 for total holdings.

Context

• RSUs are compensation awards that convert to shares only when they vest; they do not represent immediate purchases or sales and typically do not indicate an immediate market view by the insider.
• Director RSU grants are common as part of board compensation. This transaction is an award/grant (derivative), not an exercise or open‑market trade.