SBA Communications (SBAC) Proxy filing summary

Executive summary

• Annual meeting scheduled for May 22, 2026, with shareholders voting on director elections, executive compensation, and auditor ratification.

• 2025 financial highlights include $2.8B in revenue, $1.9B Adjusted EBITDA, and $1.05B net income.

• Completed Millicom International acquisition, expanding tower portfolio in Central America.

• Dividend grew by 13.3% and 2.5M shares repurchased.

Voting matters and shareholder proposals

• Shareholders to elect three directors for three-year terms, approve executive compensation (say-on-pay), and ratify Ernst & Young LLP as independent auditor for 2026.

• Board recommends voting FOR all proposals.

• Shareholders have meaningful proxy access rights and can nominate directors under certain conditions.

Board of directors and corporate governance

• Board consists of ten members with a mix of long-tenured and recently added independent directors.

• Board committees: Audit, Compensation, and Nominating & Corporate Governance (NCG), all comprised of independent directors.

• Annual board and committee self-evaluations and succession planning processes in place.

• Lead Independent Director role established for enhanced oversight.

• Board diversity in skills, experience, and global perspective emphasized.