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).
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