SBA Communications Corporation

04/12/2021 | Press release | Distributed by Public on 04/12/2021 08:36

Current Report (SEC Filing - 8-K)

8-K

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) April 12, 2021

SBA Communications Corporation

(Exact Name of Registrant as Specified in its Charter)

Florida 001-16853 65-0716501

(State or Other Jurisdiction

of Incorporation)

(Commission

File Number)

(IRS Employer

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-Kfiling 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-12under the Exchange Act (17 CFR 240.14a-12)

Pre-commencementcommunications pursuant to Rule 14d-2(b)under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencementcommunications 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-2of the Securities Exchange Act of 1934 (§240.12b-2of 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 7.01

Regulation FD Disclosure.

On April 1, 2021, SBA Communications Corporation (the 'Company') entered into a Global Amendment and Agreement (the 'Agreement') with Verizon Wireless, one of its tenants. The Agreement provides for committed, extended terms under existing lease agreements, equipment specific pricing and terms and conditions for upgrades to Verizon's existing leased sites, parameters for new site leases, and streamlined leasing processes and procedures. As a result of the term extensions for existing leases included in the Agreement, the Company now expects to recognize at least $22.5 million in additional straight-line revenue during 2021 beyond the amount previously included in the Company's outlook for full year 2021 total site leasing revenue provided on February 22, 2021. The Company's full year 2021 outlook for other measures is not expected to be materially impacted as a result of the Agreement, and will be fully updated with the Company's first quarter earnings release on April 26, 2021.

Item 9.01

Financial Statements and Exhibits.

(d)

Exhibits

Exhibit

No.

Description

104 Cover Page Interactive File (the cover page tags are embedded within the Inline XBRL document).

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

SBA COMMUNICATIONS CORPORATION
By:

/s/ Brendan T. Cavanagh

Brendan T. Cavanagh
Executive Vice President and Chief Financial Officer

Date: April 12, 2021