FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person *
Cavanagh Brendan Thomas
(Last) (First) (Middle)
C/O SBA COMMUNICATIONS CORPORATION
8051 CONGRESS AVENUE
(Street)
BOCA RATON FL 33487
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP [ SBAC ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
PRESIDENT AND CEO
3. Date of Earliest Transaction (Month/Day/Year)
03/05/2026
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 03/06/2026   M   1,445 A $ 0 53,386.113 D  
Class A Common Stock 03/06/2026   F   568.607 (1) D $ 195.69 52,817.506 D  
Class A Common Stock 03/06/2026   M   8,670 (2) A $ 0 61,487.506 D  
Class A Common Stock 03/06/2026   F   3,144.765 (1) D $ 195.69 58,342.741 D  
Class A Common Stock 03/06/2026   M   3,966 A $ 0 62,308.741 D  
Class A Common Stock 03/06/2026   F   1,560.62 (1) D $ 195.69 60,748.121 D  
Class A Common Stock 03/06/2026   M   5,003 A $ 0 65,751.121 D  
Class A Common Stock 03/06/2026   F   1,968.68 (1) D $ 195.69 63,782.441 D  
Class A Common Stock               19,055 I By LLC (3)
Class A Common Stock               14,254 I By LLC (4)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Restricted Stock Units (5) 03/06/2026   M     1,445   (6)   (6) Class A Common Stock 1,445 $ 0 0 D  
Performance Restricted Stock Units (7) 03/06/2026   M     4,335 (2)   (8)   (8) Class A Common Stock 4,335 $ 0 0 D  
Performance Restricted Stock Units (7) 03/06/2026   D     4,335 (9)   (10)   (10) Class A Common Stock 4,335 $ 0 0 D  
Restricted Stock Units (5) 03/06/2026   M     3,966   (11)   (11) Class A Common Stock 3,966 $ 0 3,966 D  
Performance Restricted Stock Units (7)               (12)   (12) Class A Common Stock 17,846   17,846 D  
Restricted Stock Units (5) 03/06/2026   M     5,003   (13)   (13) Class A Common Stock 5,003 $ 0 10,008 D  
Performance Restricted Stock Units (7)               (14)   (14) Class A Common Stock 22,516   22,516 D  
Restricted Stock Units (5) 03/05/2026   A   16,859     (15)   (15) Class A Common Stock 16,859 $ 0 16,859 D  
Performance Restricted Stock Units (7) 03/05/2026   A   25,289     (16)   (16) Class A Common Stock 25,289 $ 0 25,289 D  
Explanation of Responses:
1. Shares withheld for payment of tax liability.
2. As previously reported on a Form 4, the Reporting Person was awarded 4,335 performance restricted stock units (PSUs) on March 6, 2023 which were subject to increase or decrease based on the results of the performance condition. On March 6, 2026, these PSUs vested at 200% of target based on the results of the performance condition, such that 8,670 shares of Class A Common Stock became issuable to the Reporting Person.
3. These shares are owned by Cavanagh Investments, LLC. The Reporting Person is the manager of Cavanagh Investments, LLC and a trust for the benefit of the Reporting Person's spouse owns all of the equity interests in Cavanagh Investments, LLC. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.
4. These shares are owned by Eagle SC LLC. The Reporting Person's spouse is the manager of Eagle SC LLC and a trust for the benefit of the Reporting Person owns 95.646% of Eagle SC LLC, and the Reporting Person is the trustee of the trust.
5. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
6. These restricted stock units units vest in accordance with the following schedule: 1,445 vested on the first through third anniversaries of the grant date (March 6, 2023).
7. Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
8. These performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.
9. The PSUs previously reported as acquired by the reporting person were forfeited because the minimum performance criteria required for vesting was not met.
10. These performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.
11. These restricted stock units vest in accordance with the following schedule: 3,966 vested on the first and second anniversaries and 3,966 vest on the third anniversary of the grant date (March 6, 2024).
12. These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 6, 2027. The number of shares of Class A Common Stock that will be earned is subject to decrease or increase (up to 200%) based on the results of the performance conditions.
13. These restricted stock units vest in accordance with the following schedule: 5,003 vested on the first anniversary of the grant date and 5,004 vest on the second and third anniversaries of the grant dare (March 6, 2025).
14. These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 6, 2028. The number of shares of Class A Common Stock that will be earned is subject to decrease or increase (up to 200%) based on the results of the performance conditions.
15. These restricted stock units vests in accordance with the following schedule: 5,619 vest on the first anniversary and 5,620 vest on the second through third anniversaries of the grant date (March 5, 2026).
16. These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 5, 2029. The number of shares of Class A Common Stock that will be earned is subject to decrease or increase (up to 200%) based on the results of the performance conditions.
/s/ Joshua Westerman, Attorney-in-Fact 03/09/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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ATTACHMENTS / EXHIBITS

ATTACHMENTS / EXHIBITS

ex24-03092026_060315.htm