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Compiled from SEC Form N-PX filings and SBA COMMUNICATIONS CORP.’s Form 8-K, filed May 23, 2025 (Item 5.07 on EDGAR). Page generated October 25, 2026.
Meeting of May 23, 2025: 5 items on SBA COMMUNICATIONS CORP.’s Form 8-K, filed May 23, 2025: 2 approved · 3 without a stated outcome.
None.
Material dissent: a director nominee under 80% of the votes cast, say-on-pay under 70%, any other item the board put forward under 80%, or a shareholder proposal with more than 50%, on the company’s own Form 8-K tally. How this is decided
Explore SBA COMMUNICATIONS CORP. in the interactive database Compare manager voting policies
These tallies are SBA COMMUNICATIONS CORP.’s own, as disclosed to the U.S. Securities and Exchange Commission on Form 8-K, filed May 23, 2025 (Item 5.07, “Submission of Matters to a Vote of Security Holders”). They cover every share voted at the meeting, not just the funds that file Form N-PX.
| Ballot item | For | Against | Abstain | Withheld | Broker non-votes | Support (of votes cast) | Reported outcome | Voting standard |
|---|---|---|---|---|---|---|---|---|
| Elect Director: Kevin L. Beebe | 90,780,910 | 6,960,797 | 43,713 | -- | 2,941,763 | 93% | Not verified | — |
| Elect Director: Jack Langer | 87,766,476 | 9,975,129 | 43,815 | -- | 2,941,763 | 90% | Not verified | — |
| Elect Director: Jeffrey A. Stoops | 88,307,804 | 9,434,801 | 42,815 | -- | 2,941,763 | 90% | Not verified | — |
| 2. The ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the 2025 fiscal year | 95,304,308 | 5,380,685 | 42,190 | -- | -- | 95% | Approved | — |
| 3. The compensation of the Company's named executive officers | 92,881,987 | 4,715,401 | 188,032 | -- | 2,941,763 | 95% | Approved | — |
Source: SBA COMMUNICATIONS CORP., Form 8-K, filed with the SEC on May 23, 2025 — read the filing on EDGAR.
Each item below shows how the 718 asset managers that disclosed a SBA COMMUNICATIONS CORP. vote in their SEC Form N-PX filings actually voted. Share totals are the shares those managers' funds voted, summed across every fund they report.
Combines 7 wordings of this item as funds reported it.
90% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Jack Langer
SBA COMMUNICATIONS CORP.’s own tally for this item (“Elect Director: Jack Langer”): 87,766,476 for, 9,975,129 against, per its Form 8-K filed May 23, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 90% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 163 asset managers below reported 51,267,448 for, 2,507,229 against, 2,783 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 17,291,249 | 2 | 0 | 0 | For |
| Dodge & Cox | 6,370,985 | 0 | 0 | 0 | For |
| BlackRock | 3,686,704 | 0 | 0 | 0 | For |
| JPMorgan | 3,650,822 | 0 | 0 | 0 | For |
| Fidelity | 3,326,382 | 0 | 0 | 0 | For |
| Victory Capital | 1,454,689 | 0 | 0 | 0 | For |
| Cohen & Steers | 1,366,725 | 0 | 0 | 0 | For |
| Charles Schwab | 1,329,041 | 0 | 0 | 0 | For |
| MFS | 1,196,228 | 0 | 0 | 0 | For |
| Invesco | 1,099,628 | 0 | 0 | 0 | For |
| State Street | 11,653 | 1,050,410 | 0 | 0 | Against |
| Principal | 1,048,204 | 0 | 0 | 0 | For |
| Dimensional | 1,016,753 | 0 | 0 | 0 | For |
| DIAMOND HILL FUNDS | 945,911 | 0 | 0 | 0 | For |
| T. Rowe Price | 0 | 689,657 | 0 | 0 | Against |
| Thrivent | 652,616 | 0 | 0 | 0 | For |
| TIAA | 548,286 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 0 | 464,217 | 0 | 0 | Against |
| American Century | 456,940 | 0 | 0 | 0 | For |
| Jackson National | 370,966 | 61,665 | 0 | 0 | Mixed |
| Bridge Builder Trust | 339,659 | 52,227 | 0 | 0 | Mixed |
| REAVES UTILITY INCOME FUND | 389,200 | 0 | 0 | 0 | For |
| Capital Group | 360,135 | 0 | 0 | 0 | For |
| SCHWARTZ INVESTMENT TRUST | 274,000 | 0 | 0 | 0 | For |
| Legg Mason | 255,663 | 0 | 0 | 0 | For |
Showing the 25 largest of 163 asset managers. See all 163 in the interactive database.
Combines 7 wordings of this item as funds reported it.
90% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Jeffrey A. Stoops
SBA COMMUNICATIONS CORP.’s own tally for this item (“Elect Director: Jeffrey A. Stoops”): 88,307,804 for, 9,434,801 against, per its Form 8-K filed May 23, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 90% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 163 asset managers below reported 51,506,444 for, 2,268,233 against, 2,783 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 17,290,073 | 1,178 | 0 | 0 | For |
| Dodge & Cox | 6,370,985 | 0 | 0 | 0 | For |
| BlackRock | 3,685,997 | 707 | 0 | 0 | For |
| JPMorgan | 3,650,822 | 0 | 0 | 0 | For |
| Fidelity | 3,326,382 | 0 | 0 | 0 | For |
| Victory Capital | 1,454,689 | 0 | 0 | 0 | For |
| Cohen & Steers | 1,366,725 | 0 | 0 | 0 | For |
| Charles Schwab | 1,329,041 | 0 | 0 | 0 | For |
| MFS | 1,196,228 | 0 | 0 | 0 | For |
| Invesco | 1,099,628 | 0 | 0 | 0 | For |
| State Street | 1,062,051 | 12 | 0 | 0 | For |
| Principal | 1,048,204 | 0 | 0 | 0 | For |
| Dimensional | 1,016,753 | 0 | 0 | 0 | For |
| DIAMOND HILL FUNDS | 945,911 | 0 | 0 | 0 | For |
| T. Rowe Price | 0 | 689,657 | 0 | 0 | Against |
| Thrivent | 652,616 | 0 | 0 | 0 | For |
| TIAA | 0 | 548,286 | 0 | 0 | Against |
| Columbia Threadneedle | 0 | 464,217 | 0 | 0 | Against |
| American Century | 456,940 | 0 | 0 | 0 | For |
| Jackson National | 335,888 | 96,743 | 0 | 0 | Mixed |
| Bridge Builder Trust | 339,659 | 52,227 | 0 | 0 | Mixed |
| REAVES UTILITY INCOME FUND | 389,200 | 0 | 0 | 0 | For |
| Capital Group | 360,135 | 0 | 0 | 0 | For |
| SCHWARTZ INVESTMENT TRUST | 274,000 | 0 | 0 | 0 | For |
| Legg Mason | 255,663 | 0 | 0 | 0 | For |
Showing the 25 largest of 163 asset managers. See all 163 in the interactive database.
Combines 7 wordings of this item as funds reported it.
93% Majority: yes · of votes cast
Description as filed by funds: Election of Directors: Kevin L. Beebe
SBA COMMUNICATIONS CORP.’s own tally for this item (“Elect Director: Kevin L. Beebe”): 90,780,910 for, 6,960,797 against, per its Form 8-K filed May 23, 2025 (Item 5.07). FOR was more than half of the votes cast. Whether the item passed is for the filing to say; its statement has not been read for this item.
Reported outcome: not verified — the filing’s own statement of the outcome could not be identified for this item.
Support: 93% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 163 asset managers below reported 52,530,041 for, 1,244,637 against, 2,783 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 17,291,250 | 1 | 0 | 0 | For |
| Dodge & Cox | 6,370,985 | 0 | 0 | 0 | For |
| BlackRock | 3,686,704 | 0 | 0 | 0 | For |
| JPMorgan | 3,650,822 | 0 | 0 | 0 | For |
| Fidelity | 3,326,382 | 0 | 0 | 0 | For |
| Victory Capital | 1,454,689 | 0 | 0 | 0 | For |
| Cohen & Steers | 1,366,725 | 0 | 0 | 0 | For |
| Charles Schwab | 1,329,041 | 0 | 0 | 0 | For |
| MFS | 1,196,228 | 0 | 0 | 0 | For |
| Invesco | 1,099,628 | 0 | 0 | 0 | For |
| State Street | 1,062,051 | 12 | 0 | 0 | For |
| Principal | 1,048,204 | 0 | 0 | 0 | For |
| Dimensional | 1,016,753 | 0 | 0 | 0 | For |
| DIAMOND HILL FUNDS | 945,911 | 0 | 0 | 0 | For |
| T. Rowe Price | 0 | 689,657 | 0 | 0 | Against |
| Thrivent | 652,616 | 0 | 0 | 0 | For |
| TIAA | 548,286 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 464,217 | 0 | 0 | 0 | For |
| American Century | 456,940 | 0 | 0 | 0 | For |
| Jackson National | 370,966 | 61,665 | 0 | 0 | Mixed |
| Bridge Builder Trust | 69,372 | 322,514 | 0 | 0 | Mixed |
| REAVES UTILITY INCOME FUND | 389,200 | 0 | 0 | 0 | For |
| Capital Group | 360,135 | 0 | 0 | 0 | For |
| SCHWARTZ INVESTMENT TRUST | 274,000 | 0 | 0 | 0 | For |
| Legg Mason | 255,663 | 0 | 0 | 0 | For |
Showing the 25 largest of 163 asset managers. See all 163 in the interactive database.
Combines 14 wordings of this item as funds reported it.
95% Approved · of votes cast
Description as filed by funds: Approval, on an advisory basis, of the compensation of SBA's named executive officers.
SBA COMMUNICATIONS CORP.’s own tally for this item (“3. The compensation of the Company's named executive officers”): 92,881,987 for, 4,715,401 against — passed, per its Form 8-K filed May 23, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “Proposal 3 The shareholders approved, on an advisory basis, the compensation of the Company's named executive officers.”
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
Also reported under other wordings, matched to the same row of SBA COMMUNICATIONS CORP.’s official tally and shown with their own fund figures; their managers are not in the figures or the table on this card: “SECTION 14A EXECUTIVE COMPENSATION” (7 managers, 14,314 for, 103 against).
Fund voting reports and institutional-manager reports both cover this item. An institutional manager can report shares that a fund it advises also reports, so the two are shown separately below and never added together, and their sum is not shown (fund and manager reports combined may count the same shares twice).
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 17,290,577 | 674 | 0 | 0 | For |
| Dodge & Cox | 6,370,985 | 0 | 0 | 0 | For |
| BlackRock | 3,684,943 | 1,761 | 0 | 0 | For |
| JPMorgan | 3,650,822 | 0 | 0 | 0 | For |
| Fidelity | 3,326,382 | 0 | 0 | 0 | For |
| Victory Capital | 1,454,689 | 0 | 0 | 0 | For |
| Cohen & Steers | 1,366,725 | 0 | 0 | 0 | For |
| Charles Schwab | 1,329,041 | 0 | 0 | 0 | For |
| MFS | 1,196,228 | 0 | 0 | 0 | For |
| Invesco | 1,099,628 | 0 | 0 | 0 | For |
| State Street | 1,052,014 | 10,049 | 0 | 0 | For |
| Principal | 1,048,204 | 0 | 0 | 0 | For |
| Dimensional | 1,016,753 | 0 | 0 | 0 | For |
| DIAMOND HILL FUNDS | 945,911 | 0 | 0 | 0 | For |
| T. Rowe Price | 689,657 | 0 | 0 | 0 | For |
| Thrivent | 652,616 | 0 | 0 | 0 | For |
| TIAA | 548,286 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 464,217 | 0 | 0 | 0 | For |
| American Century | 456,940 | 0 | 0 | 0 | For |
| Jackson National | 397,553 | 35,078 | 0 | 0 | Mixed |
| Bridge Builder Trust | 391,886 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 389,200 | 0 | 0 | 0 | For |
| Capital Group | 360,135 | 0 | 0 | 0 | For |
| SCHWARTZ INVESTMENT TRUST | 274,000 | 0 | 0 | 0 | For |
| Legg Mason | 255,663 | 0 | 0 | 0 | For |
Fund voting reports, all 163 managers: 53,493,108 for, 264,336 against, 2,787 abstained. Showing the 25 largest; see all in the interactive database.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Dodge & Cox | 7,845,090 | 0 | 0 | 0 | For |
| JPMorgan | 4,847,094 | 0 | 0 | 0 | For |
| BlackRock | 4,557,761 | 2,082 | 0 | 0 | For |
| GEODE CAPITAL MANAGEMENT, LLC | 3,087,122 | 0 | 0 | 0 | For |
| State Street | 2,740,708 | 10,049 | 0 | 0 | For |
| PRINCIPAL GLOBAL INVESTORS | 2,686,952 | 0 | 0 | 0 | For |
| T. Rowe Price | 1,988,009 | 0 | 0 | 0 | For |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1,583,895 | 360,902 | 0 | 0 | Mixed |
| Victory Capital | 1,832,760 | 0 | 0 | 0 | For |
| Charles Schwab | 1,393,329 | 0 | 0 | 0 | For |
| Invesco | 1,204,230 | 0 | 0 | 0 | For |
| Legal & General Investment Management Ltd | 20,185 | 948,150 | 0 | 0 | Against |
| Northern Trust | 887,118 | 0 | 0 | 0 | For |
| BROOKFIELD Corp /ON/ | 810,584 | 0 | 0 | 0 | For |
| DIAMOND HILL CAPITAL MANAGEMENT INC | 723,662 | 0 | 0 | 0 | For |
| BARROW HANLEY MEWHINNEY & STRAUSS LLC | 714,606 | 0 | 0 | 0 | For |
| Vanguard | 707,358 | 0 | 0 | 0 | For |
| Thrivent | 678,077 | 0 | 0 | 0 | For |
| EARNEST PARTNERS LLC | 667,120 | 0 | 0 | 0 | For |
| Nuveen | 646,350 | 0 | 0 | 0 | For |
| NORDEA INVESTMENT MANAGEMENT AB | 0 | 604,015 | 0 | 0 | Against |
| Permit Capital, LLC | 577,922 | 0 | 0 | 0 | For |
| RIVULET CAPITAL, LLC | 561,850 | 0 | 0 | 0 | For |
| Fidelity | 539,676 | 0 | 0 | 0 | For |
| PARAMETRIC PORTFOLIO ASSOCIATES LLC | 519,611 | 0 | 0 | 0 | For |
Institutional-manager reports, all 583 managers: 58,093,064 for, 4,206,086 against, 76,882 withheld, 77,346 abstained, 9,524 not voted. Showing the 25 largest; see all in the interactive database.
Combines 6 wordings of this item as funds reported it.
95% Approved · of votes cast
Description as filed by funds: Ratification of the appointment of Ernst & Young LLP as SBA's independent registered public accounting firm for the 2025 fiscal year.
SBA COMMUNICATIONS CORP.’s own tally for this item (“2. The ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the 2025 fiscal year”): 95,304,308 for, 5,380,685 against — passed, per its Form 8-K filed May 23, 2025 (Item 5.07).
Reported outcome: Approved, in the filing’s own words: “Proposal 2 The shareholders approved the ratification of the appointment of Ernst & Young LLP as the Company's independent registered public accounting firm for the 2025 fiscal year.”
Support: 95% of votes cast — FOR ÷ (FOR + AGAINST); abstentions and broker non-votes are excluded.
The 163 asset managers below reported 53,734,735 for, 21,606 against, 2,783 abstained.
| Asset manager | For | Against | Abstain | Withheld | Vote |
|---|---|---|---|---|---|
| Vanguard | 17,290,074 | 1,177 | 0 | 0 | For |
| Dodge & Cox | 6,370,985 | 0 | 0 | 0 | For |
| BlackRock | 3,686,704 | 0 | 0 | 0 | For |
| JPMorgan | 3,650,822 | 0 | 0 | 0 | For |
| Fidelity | 3,326,382 | 0 | 0 | 0 | For |
| Victory Capital | 1,454,689 | 0 | 0 | 0 | For |
| Cohen & Steers | 1,366,725 | 0 | 0 | 0 | For |
| Charles Schwab | 1,329,041 | 0 | 0 | 0 | For |
| MFS | 1,196,228 | 0 | 0 | 0 | For |
| Invesco | 1,099,628 | 0 | 0 | 0 | For |
| State Street | 1,062,051 | 12 | 0 | 0 | For |
| Principal | 1,048,204 | 0 | 0 | 0 | For |
| Dimensional | 1,016,753 | 0 | 0 | 0 | For |
| DIAMOND HILL FUNDS | 945,911 | 0 | 0 | 0 | For |
| T. Rowe Price | 689,657 | 0 | 0 | 0 | For |
| Thrivent | 652,616 | 0 | 0 | 0 | For |
| TIAA | 548,286 | 0 | 0 | 0 | For |
| Columbia Threadneedle | 464,217 | 0 | 0 | 0 | For |
| American Century | 456,940 | 0 | 0 | 0 | For |
| Jackson National | 432,631 | 0 | 0 | 0 | For |
| Bridge Builder Trust | 391,886 | 0 | 0 | 0 | For |
| REAVES UTILITY INCOME FUND | 389,200 | 0 | 0 | 0 | For |
| Capital Group | 360,135 | 0 | 0 | 0 | For |
| SCHWARTZ INVESTMENT TRUST | 274,000 | 0 | 0 | 0 | For |
| Legg Mason | 255,663 | 0 | 0 | 0 | For |
Showing the 25 largest of 163 asset managers. See all 163 in the interactive database.
Not shown here: this season’s fund filings also report 1 item from the meeting of May 23, 2024, which belongs to the 2023-2024 season. A meeting outside this season’s July 1 to June 30 window is not counted in this page’s items or in its totals of asset managers and fund votes.
Ranked separately for each type of Form N-PX report. An institutional manager can report shares that a fund it advises also reports, so the two tables can list the same shares and are never added together. Each is ranked by the shares voted on the item that the most managers of that type reported, shown as a share of the 108,028,000 shares outstanding at the time of that meeting.
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Vanguard | 16.01% |
| 2 | Dodge & Cox | 5.90% |
| 3 | BlackRock | 3.41% |
| 4 | JPMorgan | 3.38% |
| 5 | Fidelity | 3.08% |
| 6 | Victory Capital | 1.35% |
| 7 | Cohen & Steers | 1.27% |
| 8 | Charles Schwab | 1.23% |
| 9 | MFS | 1.11% |
| 10 | Invesco | 1.02% |
| # | Asset manager | % of shares outstanding |
|---|---|---|
| 1 | Dodge & Cox | 7.26% |
| 2 | JPMorgan | 4.49% |
| 3 | BlackRock | 4.22% |
| 4 | GEODE CAPITAL MANAGEMENT, LLC | 2.86% |
| 5 | State Street | 2.55% |
| 6 | PRINCIPAL GLOBAL INVESTORS | 2.49% |
| 7 | T. Rowe Price | 1.84% |
| 8 | MASSACHUSETTS FINANCIAL SERVICES CO /MA/ | 1.80% |
| 9 | Victory Capital | 1.70% |
| 10 | Charles Schwab | 1.29% |
As disclosed to the SEC in Form 13F (quarter-end holdings of 30 large managers), Schedules 13D and 13G (beneficial ownership above 5%) and the company’s own proxy statement (DEF 14A). Each row names its form.
| Holder | % outstanding | Disclosure |
|---|---|---|
| Vanguard Group | 16.35% | 13F |
| BlackRock | 9.29% | 13F |
| Vanguard Portfolio Management | 9.00% | 13G |
| Dodge & Cox | 8.95% | 13G |
| JPMorgan Chase | 5.53% | 13F |
| State Street | 4.25% | 13F |
| Dimensional Fund Advisors | 1.40% | 13F |
| Morgan Stanley | 1.32% | 13F |
| Charles Schwab | 1.25% | 13F |
| Invesco | 1.22% | 13F |
Percentages above are of 108,028,000 shares outstanding, as reported by SBA COMMUNICATIONS CORP. on its Form 10-Q dated March 31, 2025 (see the filing on EDGAR). This is the count contemporaneous with the 2024-2025 meeting, not today’s. Each holding is as of its own filing, which may be dated before or after the meeting.
Every figure above is derived from filings made with the US Securities and Exchange Commission: Form N-PX, in which registered funds disclose how they voted every proxy and institutional managers disclose their votes on executive pay (say-on-pay, say-on-frequency and golden parachutes), and Form 8-K Item 5.07, in which the company reports its own meeting results. Shares outstanding are taken from SBA COMMUNICATIONS CORP.’s 10-Q dated March 31, 2025. This page is a static snapshot rebuilt weekly on October 25, 2026; a live search always shows the current data.
At SBA COMMUNICATIONS CORP.'s shareholder meeting held May 23, 2025, in the 2024-2025 proxy season, 718 asset managers reported how they voted on 5 ballot items in their SEC Form N-PX filings, covering 4,647 separate fund positions. On the most widely held item on that ballot — Approval, on an advisory basis, of the compensation of SBA's named executive officers. — SBA COMMUNICATIONS CORP.'s filing reports the proposal as approved, with 95% support of the votes cast (FOR divided by FOR plus AGAINST, the conventional basis for proxy support; abstentions, broker non-votes and unvoted shares are excluded because none of them took a side). Source: SBA COMMUNICATIONS CORP.'s Form 8-K, Item 5.07, filed with the U.S. Securities and Exchange Commission on May 23, 2025.
SBA COMMUNICATIONS CORP. proxy season coverage: 2023-2024 · 2024-2025 (this page) · 2025-2026.
Download data (CSV): ballot items · votes by manager · column guide.