Form 4: SBA Communications Director Receives Equity Grant
Statement of Changes in Beneficial Ownership
Director Jay LeCoryelle Johnson was granted 1,108 restricted stock units as part of an equity compensation plan.
Summary
- Director Jay LeCoryelle Johnson received a grant of 1,108 restricted stock units (RSUs) on May 22, 2026.
- Each RSU represents a contingent right to receive one share of Class A Common Stock.
- The new RSU grant vests in three equal annual installments on May 1, 2027, May 1, 2028, and May 1, 2029.
- The reporting person maintains a total beneficial ownership of 1,665.096 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: StockSavvy.ai views this as a neutral administrative filing regarding routine director compensation.
Positives
- Alignment of director interests with long-term shareholder value through equity-based compensation.
Negatives
- None identified; this is a standard regulatory disclosure of director compensation.
Risks
- None identified; this is a standard regulatory disclosure of director compensation.
Future Outlook
The filing does not provide forward-looking financial guidance, as it is a disclosure of director equity compensation.
Industry Context
StockSavvy.ai notes that equity grants to board members are standard practice in the telecommunications infrastructure sector to ensure director retention and alignment with corporate performance.
Comparison to Industry Standards
- The compensation structure is consistent with standard corporate governance practices for S&P 500 and mid-cap companies.
- Vesting schedules over 3-5 years are typical for executive and director equity awards in the tower REIT industry.
Stakeholder Impact
- Minimal impact on shareholders; represents standard director compensation.
Next Steps
- Vesting of RSU tranches on May 1, 2027.
Key Dates
| Date | Description |
|---|---|
| 03/28/2022 | Grant date of initial stock options. |
| 05/01/2025 | Vesting date for initial RSU tranche. |
| 05/01/2026 | Vesting date for RSU tranches. |
| 05/22/2026 | Transaction date of the new RSU grant. |
| 05/27/2026 | Filing date of the Form 4. |
| 05/01/2027 | Future vesting date for RSU tranches. |
| 05/01/2028 | Future vesting date for RSU tranches. |
| 05/01/2029 | Final vesting date for the new RSU grant. |
| 03/28/2032 | Expiration date of stock options. |
Keywords
SBAC, SBA Communications, Form 4, Director Compensation, Restricted Stock Units, Insider Ownership
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