LANGER JACK 4

What Happened Jack Langer, a director of SBA Communications Corp. (SBAC), received a grant of 1,108 restricted stock units (RSUs) on May 22, 2026. The filing reports the award as a derivative grant at $0.00 per unit (no cash exchanged). Each RSU represents a contingent right to one share of Class A common stock upon vesting.

Key Details

• Transaction date and type: May 22, 2026 — Award/Grant of 1,108 RSUs (derivative), reported on Form 4 filed May 27, 2026.
• Price/Value: $0.00 per RSU at grant; total reported acquisition value $0 (award).
• Vesting and conversion: Footnote indicates each RSU converts 1-for-1 into a share upon vesting (F2). The filing’s footnotes include a vesting schedule showing the 1,108 RSUs vesting in tranches of 369, 369 and 370 on May 1 of 2027, 2028 and 2029 (see F5).
• Trust/ownership note: Securities are held by The Jack Langer 2012 Irrevocable Family Trust; the trustee is the reporting person’s spouse and Mr. Langer disclaims beneficial ownership except to the extent of his pecuniary interest (F1).
• Timeliness: The Form 4 was filed on May 27, 2026 for a May 22, 2026 grant. Because May 25 was a U.S. holiday (Memorial Day), the May 27 filing falls within the required two business days and is timely.
• Shares owned after transaction: The filing does not state a total post-transaction beneficial ownership amount for Mr. Langer beyond the trust-held RSUs and related notes.

Context This was a compensation award (RSUs), not an open-market purchase or sale. RSU grants are common for executives and directors and only become actual shares if and when they vest; they do not by themselves indicate immediate buying or selling intent. The trust hold and disclaimer note mean the securities are held for estate-planning purposes and Mr. Langer limits claimed beneficial ownership to his economic interest.