Ciarfella Mark R 4

What Happened
Mark R. Ciarfella, EVP — Operations at SBA Communications (SBAC), had multiple restricted and performance stock units convert/vest in early March 2026. On March 5–6, 2026 he: (a) was issued/converted a set of RSUs/PSUs (noted entries include 715, 4,288, 1,532 and 1,848-share conversions), and (b) had a total of ~3,170.678 shares withheld to satisfy tax withholding obligations (codes F). The withholding was calculated at $195.69 per share, totaling about $620,470. Separate grants of performance/restricted units were reported on March 5, 2026 (6,717 and 6,716 units).

Key Details

• Transaction dates: Grants reported 2026-03-05; conversions/vests and withholdings occurred 2026-03-06.
• Prices/values: Tax-withheld shares valued at $195.69 each; total tax-withheld value ≈ $620,470. Individual withholding line items: $51,770; $325,579; $110,925; $132,196.
• Shares involved (selected): Converted/issued totals shown in filings include 715; 4,288; 1,532; 1,848 (separate grant lines: 6,717 and 6,716). About 3,170.678 shares were withheld (F = tax withholding). One prior PSU award of 2,144 vested at 200% (became 4,288 shares) per filing footnote.
• Notable footnotes: Withholdings are to cover tax liabilities (F1). Several awards are performance-based PSUs that can pay out 0–200% based on three-year performance metrics and have staged vesting schedules (see F2, F6, F10–F14). Restricted stock units represent contingent rights to one share each.
• Shares owned after transaction: not specified in the summary details of this filing.
• Timeliness: Filing date 2026-03-09 for transactions dated 2026-03-05 to 2026-03-06 (filing timeliness not indicated in the filing excerpts provided).

Context

• These filings show conversions/vests of restricted and performance awards and shares withheld to satisfy tax obligations — a routine, non-open-market outcome common when RSUs/PSUs vest.
• The withholding (F code) functions like a cashless exercise/sale to cover taxes; it does not necessarily indicate a decision to sell for investment reasons.
• Performance units include multi-year performance conditions (some awards may pay out at up to 200% of target), so future vesting and final share counts depend on performance results.