LANGER JACK 4

What Happened

• Jack Langer, a director of SBA Communications (SBAC), had 881 restricted stock units (RSUs) settle into 881 shares of Class A common stock on May 1, 2026 (248 + 302 + 331). To satisfy tax withholding, 325.968 shares were withheld at $221.20 per share for a withholding value of $72,104. The net increase to his holding from this settlement was 555.032 shares (commonly reported as ~555 shares).
• This was not an open‑market sale or purchase — it was the routine settlement of vested RSUs and the related tax withholding (Form 4 transaction codes: M = exercise/conversion of derivative; F = payment of tax liability).

Key Details

• Transaction date: May 1, 2026. Form 4 filed May 5, 2026 (within the two-business-day reporting window).
• RSU settlement breakdown: 248 shares, 302 shares, and 331 shares settled (total 881).
• Tax withholding: 325.968 shares withheld at $221.20/share = $72,104.
• Net shares added: 881 − 325.968 = 555.032 shares (reported here as ~555 shares).
• Vesting notes: the RSUs came from scheduled vesting groups (see footnotes): portions vested in prior years and on May 1, 2026 per the filing.
• Holdings/ownership: the filing notes certain securities are held in an irrevocable family trust for estate planning and the reporting person disclaims beneficial ownership of those trust-held shares except to the extent of any pecuniary interest (per footnote).
• Filing timeliness: Filing date indicates the Form 4 was timely filed.

Context

• For retail investors: this is a routine RSU settlement with shares withheld to cover taxes (a common cashless-type approach). It is not an open-market sale that would signal active divestment.
• Transaction codes explained briefly: M = conversion/exercise of a derivative (here, RSUs converting into shares); F = shares withheld to satisfy tax obligations.