SBA COMMUNICATIONS CORP
For the period ended May 22, 2026. Filed Apr 9, 2026.
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May 22, 2026 · Filed Apr 9, 2026
Contents
Compensation Setting Process
Annually, the Compensation Committee evaluates the design and competitiveness of SBA’s executive compensation program. As discussed above under the responsibilities of the Compensation Committee on page 22, the Compensation Committee has authority to retain compensation consultants, outside legal counsel and other advisors as it deems appropriate to assist in fulfilling its responsibilities. For 2025, the Compensation Committee selected and retained F.W. Cook & Co., Inc. (“FW Cook”) to:
| > | review those companies that comprise our Peer Group and propose changes if necessary; |
| > | provide a competitive analysis of our compensation components for our NEOs against our 2025 Peer Group; and |
| > | review this CD&A. |
FW Cook does not perform any other services for SBA other than its consulting services to the Compensation Committee. The Compensation Committee has reviewed the independence of FW Cook in light of SEC rules and Nasdaq Listing Standards regarding compensation consultants and has concluded that FW Cook’s work for the Compensation Committee during 2025 did not raise any conflict of interest and that FW Cook is independent.
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