Basic earnings per share was computed by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding for each respective period. Diluted earnings per share was calculated by dividing net income attributable to SBA Communications Corporation by the weighted-average number of shares of Class A common stock outstanding adjusted for any dilutive Class A common stock equivalents, including unvested RSUs, PSUs, and shares issuable upon exercise of stock options as determined under the “Treasury Stock” method.

The following table sets forth basic and diluted net income per common share attributable to common shareholders for the three and six months ended June 30, 2026 and 2025:



	For the three months				For the six months
	ended June 30,				ended June 30,
	2026		2025		2026		2025

	(in thousands, except per share data)
Numerator:
Net income attributable to SBA
Communications Corporation	$	198,777	$	225,794	$	383,611	$	446,525
Denominator:
Basic weighted-average shares outstanding		106,073		107,531		105,945		107,637
Dilutive impact of stock options, RSUs, and PSUs		191		266		243		331
Diluted weighted-average shares outstanding		106,264		107,797		106,188		107,968
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	1.87	$	2.10	$	3.62	$	4.15
Diluted	$	1.87	$	2.09	$	3.61	$	4.14