CANE RICHARD M (EVP; PRES. - INTERNATIONAL) exercised options at SBA COMMUNICATIONS CORP

Option exercise — a mechanical event triggered by vesting or expiry. Not a discretionary conviction trade.

M · 4 exercises

CANE RICHARD M

Filed: 3/9/2026ACC: 0001957645-26-000002

InsiderCANE RICHARD MCIK 1957645

→

IssuerSBA COMMUNICATIONS CORPCIK 1034054

Officer· EVP; PRES. - INTERNATIONAL

Since Mar 2026

+10.91K

Net shares

Net buyer

$494.4K

Total sold

Open market trades

0B · 0S

Total transactions

21.75K acquired · 10.85K disposed

Non-Derivative Transactions8

Class A Common Stock

Direct

M · Option Exercise

+694.00

Price / share

—

Trade value

—

% of position

10.5%

3/6/2026

6.61K→7.31K

Class A Common Stock

Direct

F · Tax Withholding

−273.09

Price / share

$195.69

Trade value

$53.44K

% of position

3.7%

3/6/2026

7.31K→7.03K

Class A Common Stock

Direct

M · Option Exercise

+4.16K

Price / share

—

Trade value

—

% of position

59.2%

3/6/2026

7.03K→11.19K

Class A Common Stock

Direct

F · Tax Withholding

−1.03K

Price / share

$195.69

Trade value

$202.10K

% of position

9.2%

3/6/2026

11.19K→10.16K

Class A Common Stock

Direct

M · Option Exercise

+1.54K

Price / share

—

Trade value

—

% of position

15.2%

3/6/2026

10.16K→11.70K

Class A Common Stock

Direct

F · Tax Withholding

−607.17

Price / share

$195.69

Trade value

$118.82K

% of position

5.2%

3/6/2026

11.70K→11.10K

Class A Common Stock

Direct

M · Option Exercise

+1.92K

Price / share

—

Trade value

—

% of position

17.3%

3/6/2026

11.10K→13.02K

Class A Common Stock

Direct

F · Tax Withholding

−613.30

Price / share

$195.69

Trade value

$120.02K

% of position

4.7%

3/6/2026

13.02K→12.40K

Total

Net shares

+5.79K

Net value

-$494.37K

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+694.00	—	—	10.5%	6.61K	7.31K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−273.09	$195.69	$53.44K	3.7%	7.31K	7.03K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+4.16K	—	—	59.2%	7.03K	11.19K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−1.03K	$195.69	$202.10K	9.2%	11.19K	10.16K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+1.54K	—	—	15.2%	10.16K	11.70K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−607.17	$195.69	$118.82K	5.2%	11.70K	11.10K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+1.92K	—	—	17.3%	11.10K	13.02K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−613.30	$195.69	$120.02K	4.7%	13.02K	12.40K
Total			+5.79K		-$494.37K

Derivative Transactions7

Restricted Stock Units

Direct

A · Award

Converts to

Class A Common Stock

6.72K shares

+6.72K

Strike price

Held after

6.72K

Exercisable

—

3/5/2026

Performance Restricted Stock Units

Direct

A · Award

Converts to

Class A Common Stock

6.72K shares

+6.72K

Strike price

Held after

6.72K

Exercisable

—

3/5/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

694.00 shares

−694.00

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Performance Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

2.08K shares

−2.08K

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Performance Restricted Stock Units

Direct

D · Disposition

Converts to

Class A Common Stock

2.08K shares

−2.08K

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

1.54K shares

−1.54K

Strike price

Held after

1.54K

Exercisable

—

3/6/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

1.92K shares

−1.92K

Strike price

Held after

3.84K

Exercisable

—

3/6/2026

Security	Converts To	Date	Type	Shares	Exercisable	Held After
Restricted Stock Units Direct	Class A Common Stock6.72K shares	3/5/2026	A · Award	+6.72K	—	6.72K
Performance Restricted Stock Units Direct	Class A Common Stock6.72K shares	3/5/2026	A · Award	+6.72K	—	6.72K
Restricted Stock Units Direct	Class A Common Stock694.00 shares	3/6/2026	M · Option Exercise	−694.00	—	0.00
Performance Restricted Stock Units Direct	Class A Common Stock2.08K shares	3/6/2026	M · Option Exercise	−2.08K	—	0.00
Performance Restricted Stock Units Direct	Class A Common Stock2.08K shares	3/6/2026	D · Disposition	−2.08K	—	0.00
Restricted Stock Units Direct	Class A Common Stock1.54K shares	3/6/2026	M · Option Exercise	−1.54K	—	1.54K
Restricted Stock Units Direct	Class A Common Stock1.92K shares	3/6/2026	M · Option Exercise	−1.92K	—	3.84K

Non-Derivative Holdings (Post-Transaction)0

No non-derivative holdings reported

Derivative Holdings (Post-Transaction)2

Performance Restricted Stock Units

Direct

Underlying security

Class A Common Stock

Underlying shares

5.76K

Shares owned

5.76K

Exercise price

Expiration

—

Exercise window

—

Performance Restricted Stock Units

Direct

Underlying security

Class A Common Stock

Underlying shares

4.63K

Shares owned

4.63K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

10.39K

Owned

10.39K

Security	Underlying	Exercise Window	Expiration	Underlying Shares	Shares Owned
Performance Restricted Stock Units Direct	Class A Common Stock	—	—	5.76K	5.76K
Performance Restricted Stock Units Direct	Class A Common Stock	—	—	4.63K	4.63K
Total				10.39K	10.39K