Chan Mary S 4
4 · SBA COMMUNICATIONS CORP · Filed May 5, 2026
Research Summary
AI-generated summary of this filing
SBA Communications Director Mary S. Chan Receives RSU Shares
What Happened
Mary S. Chan, a director of SBA Communications Corp. (SBAC), had restricted stock units (RSUs) convert into 248, 302 and 331 shares (881 total) on May 1, 2026. Of those shares, 325.968 were withheld to cover tax withholding at a reported withholding price of $221.20 per share, equal to $72,104. The transaction is a settlement of previously granted RSUs (an award conversion), not an open-market sale or purchase.
Key Details
- Transaction date: May 1, 2026; Form filed May 5, 2026 (timely—filed by the second business day).
- Shares settled (acquired): 248 + 302 + 331 = 881 RSU shares.
- Shares withheld for taxes (disposed): 325.968 shares at $221.20 per share, total $72,104. Net shares delivered to the insider ≈ 555 shares (881 − 325.968 ≈ 555.0).
- Transaction codes: M = exercise/conversion of derivative (RSU settlement); F = payment of tax liability (withholding).
- Footnotes: Each RSU equals the right to one Class A share. Vesting schedules per footnotes: portions vested across May 1, 2024–2028 (see F6–F8 for details).
- Shares owned after the transaction: not specified in the filing.
- No 10b5-1 plan or sale on open market noted; this was a routine vesting/settlement and tax withholding event.
Context
- This was a grant/award settlement (RSUs converting to shares), not a purchase or discretionary sale—such transactions are usually routine when awards vest.
- The use of share withholding to satisfy tax obligations is common in RSU settlements and does not necessarily indicate a change in insider sentiment.
Insider Transaction Report
Form 4
Chan Mary S
Director
Transactions
- Exercise/Conversion
Class A Common Stock
[F1]2026-05-01+248→ 6,114.511 total - Exercise/Conversion
Class A Common Stock
[F2]2026-05-01+302→ 6,416.511 total - Exercise/Conversion
Class A Common Stock
[F3]2026-05-01+331→ 6,747.511 total - Tax Payment
Class A Common Stock
[F4]2026-05-01$221.20/sh−325.968$72,104→ 6,421.543 total - Exercise/Conversion
Restricted Stock Units
[F5][F1][F6]2026-05-01−248→ 0 total→ Class A Common Stock (248 underlying) - Exercise/Conversion
Restricted Stock Units
[F5][F2][F7]2026-05-01−302→ 302 total→ Class A Common Stock (302 underlying) - Exercise/Conversion
Restricted Stock Units
[F5][F3][F8]2026-05-01−331→ 663 total→ Class A Common Stock (331 underlying)
Footnotes (8)
- [F1]On May 1, 2026, 248 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
- [F2]On May 1, 2026, 302 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
- [F3]On May 1, 2026, 331 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.
- [F4]Shares withheld for the payment of tax liability.
- [F5]Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
- [F6]These restricted stock units vest in accordance with the following schedule: 247 vested on May 1, 2024; 248 vested on May 1, 2025; and 248 vested on May 1, 2026.
- [F7]These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vested on May 1, 2026; and 302 vest on May 1, 2027.
- [F8]These restricted stock units vest in accordance with the following schedule: 331 vested on May 1, 2026; 331 vest on May 1, 2027; and 332 vest on May 1, 2028.
Signature
/s/ Joshua Westerman, as Attorney-in-Fact|2026-05-05