CIARFELLA MARK R (EVP - Operations) exercised options at SBA COMMUNICATIONS CORP

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

M · 4 exercises

CIARFELLA MARK R

Filed: 3/9/2026ACC: 0001504654-26-000002

InsiderCIARFELLA MARK RCIK 1504654

→

IssuerSBA COMMUNICATIONS CORPCIK 1034054

Officer· EVP - Operations

Since Nov 2018

+10.26K

Net shares

Net buyer

$620.5K

Total sold

Open market trades

0B · 0S

Total transactions

21.82K acquired · 11.55K disposed

Non-Derivative Transactions8

Class A Common Stock

Direct

M · Option Exercise

+715.00

Price / share

—

Trade value

—

% of position

1.9%

3/6/2026

37.61K→38.32K

Class A Common Stock

Direct

F · Tax Withholding

−264.55

Price / share

$195.69

Trade value

$51.77K

% of position

0.7%

3/6/2026

38.32K→38.06K

Class A Common Stock

Direct

M · Option Exercise

+4.29K

Price / share

—

Trade value

—

% of position

11.3%

3/6/2026

38.06K→42.35K

Class A Common Stock

Direct

F · Tax Withholding

−1.66K

Price / share

$195.69

Trade value

$325.58K

% of position

3.9%

3/6/2026

42.35K→40.68K

Class A Common Stock

Direct

M · Option Exercise

+1.53K

Price / share

—

Trade value

—

% of position

3.8%

3/6/2026

40.68K→42.22K

Class A Common Stock

Direct

F · Tax Withholding

−566.84

Price / share

$195.69

Trade value

$110.92K

% of position

1.3%

3/6/2026

42.22K→41.65K

Class A Common Stock

Direct

M · Option Exercise

+1.85K

Price / share

—

Trade value

—

% of position

4.4%

3/6/2026

41.65K→43.50K

Class A Common Stock

Direct

F · Tax Withholding

−675.54

Price / share

$195.69

Trade value

$132.20K

% of position

1.6%

3/6/2026

43.50K→42.82K

Total

Net shares

+5.21K

Net value

-$620.47K

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	+715.00	—	—	1.9%	37.61K	38.32K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−264.55	$195.69	$51.77K	0.7%	38.32K	38.06K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+4.29K	—	—	11.3%	38.06K	42.35K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−1.66K	$195.69	$325.58K	3.9%	42.35K	40.68K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+1.53K	—	—	3.8%	40.68K	42.22K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−566.84	$195.69	$110.92K	1.3%	42.22K	41.65K
Class A Common Stock Direct	3/6/2026	M · Option Exercise	+1.85K	—	—	4.4%	41.65K	43.50K
Class A Common Stock Direct	3/6/2026	F · Tax Withholding	−675.54	$195.69	$132.20K	1.6%	43.50K	42.82K
Total			+5.21K		-$620.47K

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

715.00 shares

−715.00

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Performance Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

2.14K shares

−2.14K

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Performance Restricted Stock Units

Direct

D · Disposition

Converts to

Class A Common Stock

2.14K shares

−2.14K

Strike price

Held after

0.00

Exercisable

—

3/6/2026

Restricted Stock units

Direct

M · Option Exercise

Converts to

Class A Common Stock

1.53K shares

−1.53K

Strike price

Held after

1.53K

Exercisable

—

3/6/2026

Restricted Stock Units

Direct

M · Option Exercise

Converts to

Class A Common Stock

1.85K shares

−1.85K

Strike price

Held after

3.70K

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 Stock715.00 shares	3/6/2026	M · Option Exercise	−715.00	—	0.00
Performance Restricted Stock Units Direct	Class A Common Stock2.14K shares	3/6/2026	M · Option Exercise	−2.14K	—	0.00
Performance Restricted Stock Units Direct	Class A Common Stock2.14K shares	3/6/2026	D · Disposition	−2.14K	—	0.00
Restricted Stock units Direct	Class A Common Stock1.53K shares	3/6/2026	M · Option Exercise	−1.53K	—	1.53K
Restricted Stock Units Direct	Class A Common Stock1.85K shares	3/6/2026	M · Option Exercise	−1.85K	—	3.70K

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

4.77K

Shares owned

4.77K

Exercise price

Expiration

—

Exercise window

—

Total

Underlying

10.53K

Owned

10.53K

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	—	—	4.77K	4.77K
Total				10.53K	10.53K