Form 4: SBA Communications SVP Brian Lazarus Reports Stock Transactions
SEC Form 4
Brian Lazarus, SVP & Chief Accounting Officer of SBA Communications, reports acquisition and disposal of Class A Common Stock and vesting of restricted stock units.
Summary
- Brian Lazarus, SVP & Chief Accounting Officer of SBA Communications Corp, filed a Form 4 detailing changes in beneficial ownership.
- On March 4, 2024, Lazarus acquired 542 shares of Class A Common Stock through vesting of restricted stock units and 3,248 and 406 shares through vesting of performance restricted stock units.
- He also acquired 488 shares of Class A Common Stock through vesting of restricted stock units.
- Lazarus disposed of 213.277, 1,301.913, 159.76, and 192.027 shares of Class A Common Stock for tax liability at a price of $208.29.
- The report also indicates that Lazarus holds 20,241.464 shares of Class A Common Stock indirectly through a grantor retained annuity trust (GRAT).
- Lazarus also holds 23,512 stock options exercisable at $182.3, expiring on March 6, 2026.
- The filing also details the vesting schedules for various restricted stock units and performance restricted stock units.
Sentiment
Score: 5
Explanation: This is a neutral filing, simply reporting transactions. It doesn't inherently indicate positive or negative sentiment about the company's future.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. These filings are closely watched by investors as they can provide signals about management's view of the company's prospects.
Stakeholder Impact
- The transactions reported may have a minor impact on shareholders due to the change in ownership, but the overall impact is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 03/04/2021 | Grant date of performance restricted stock units (PSUs) that vested on March 4, 2024. |
| 03/04/2022 | Grant date of restricted stock units that vest on the first, second and third anniversaries of the grant date. |
| 03/06/2023 | Grant date of restricted stock units that vest on the first, second and third anniversaries of the grant date. |
| 03/01/2024 | Acquisition of shares pursuant to the SBA Communications Corporation 2018 Employee Stock Purchase Plan. |
| 03/04/2024 | Date of earliest transaction reported: vesting of restricted stock units and performance restricted stock units, and shares withheld for tax liability. |
| 03/04/2024 | Performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, which is the third anniversary of the grant date. |
| 03/06/2024 | Date of report. |
| 03/04/2025 | The performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, which is the third anniversary of the grant date. |
| 03/06/2026 | Expiration date of stock options. |
| 03/06/2026 | The performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 6, 2026, which is the third anniversary of the grant date. |
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