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 nine months ended September 30, 2026 and 2025:



	For the three months				For the nine months
	ended September 30,				ended September 30,
	2026		2025		2026		2025

	(in thousands, except per share data)
Numerator:
Net income attributable to SBA
Communications Corporation	$	231,306	$	236,816	$	614,916	$	683,342
Denominator:
Basic weighted-average shares outstanding		105,428		107,257		105,771		107,509
Dilutive impact of stock options, RSUs, and PSUs		234		302		240		322
Diluted weighted-average shares outstanding		105,662		107,559		106,011		107,831
Net income per common share attributable to SBA
Communications Corporation:
Basic	$	2.19	$	2.21	$	5.81	$	6.36
Diluted	$	2.19	$	2.20	$	5.80	$	6.34