SBA Communications Corp. Announces Director Changes and Officer Compensation

Ticker: SBAC · Form: 8-K · Filed: 2024-07-10T00:00:00.000Z

Sentiment: neutral

Topics: director-change, officer-compensation, governance

TL;DR

SBA Comms swapped a director and updated exec pay. Board changes are always worth watching.

AI Summary

SBA Communications Corporation announced on July 8, 2024, the departure of director Steven L. Shulman and the election of new director Michael J. S. Smith. The company also reported on compensatory arrangements for certain officers. This filing is a current report under Section 13 or 15(d) of the Securities Exchange Act of 1934.

Why It Matters

Changes in board composition and executive compensation can signal shifts in company strategy or governance, potentially impacting investor confidence and future performance.

Risk Assessment

Risk Level: low — This filing primarily concerns routine corporate governance matters such as director changes and compensation disclosures, which typically carry low immediate risk.

Key Numbers

Key Players & Entities

FAQ

Who has departed from the board of directors at SBA Communications Corp?

Steven L. Shulman has departed from the board of directors.

Who has been elected as a new director?

Michael J. S. Smith has been elected as a new director.

What is the date of the earliest event reported in this 8-K filing?

The date of the earliest event reported is July 8, 2024.

What is the principal executive office address of SBA Communications Corp?

The principal executive office address is 8051 Congress Avenue, Boca Raton, FL 33487.

What is the SEC file number for SBA Communications Corp?

The SEC file number for SBA Communications Corp is 001-16853.

From the Filing

0001034054-24-000007.txt : 20240710 0001034054-24-000007.hdr.sgml : 20240710 20240710165515 ACCESSION NUMBER: 0001034054-24-000007 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 13 CONFORMED PERIOD OF REPORT: 20240708 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240710 DATE AS OF CHANGE: 20240710 FILER: COMPANY DATA: COMPANY CONFORMED NAME: SBA COMMUNICATIONS CORP CENTRAL INDEX KEY: 0001034054 STANDARD INDUSTRIAL CLASSIFICATION: REAL ESTATE INVESTMENT TRUSTS [6798] ORGANIZATION NAME: 05 Real Estate & Construction IRS NUMBER: 650716501 STATE OF INCORPORATION: FL FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-16853 FILM NUMBER: 241110446 BUSINESS ADDRESS: STREET 1: 8051 CONGRESS AVENUE CITY: BOCA RATON STATE: FL ZIP: 33487 BUSINESS PHONE: 5612269345 MAIL ADDRESS: STREET 1: 8051 CONGRESS AVENUE CITY: BOCA RATON STATE: FL ZIP: 33487 8-K 1 sbac-20240708x8k.htm 8-K sbac-20240708x8k false 0001034054 0001034054 2024-07-08 2024-07-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 8-K CURRENT REPORT Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of report (Date of earliest event reported) July 8, 2024 SBA Communications Corporation (Exact Name of Registrant as Specified in its Charter) Florida 001-16853 65-0716501 (State or Other Jurisdiction (Commission File Number) (IRS Employer of Incorporation) Identification No.) 8051 Congress Avenue Boca Raton , FL 33487 (Address of Principal Executive Offices) (Zip Code) Registrant’s telephone number, including area code: ( 561 )  995-7670 (Former name or former address, if changed since last report)   Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:    Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)  Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)  Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))  Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class   Trading Symbol(s)   Name of each exchange on which registered Class A Common Stock, $0.01 par value per share   SBAC   The NASDAQ Stock Market LLC ‎ (NASDAQ Global Select Market) Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).    Emerging growth company   If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 8, 2024, Brian D. Lazarus, Senior Vice President and Chief Accounting Officer of SBA Communications Corporation (the “Company”), provided notice of his intent to resign from his current title and roles at the Company and all its subsidiaries effective December 31, 2024, and retire after 18 years with the Company. Saul Kredi, 55, has been appointed Vice President and Chief Accounting Officer of the Company effective January 1, 2025. Mr. Kredi joined the Company in November 2014 as the Compan

View on Read The Filing