Item 1A. RISK FACTORS

The following risk factor is provided to update the risk factors previously discussed in "Item 1A. Risk Factors" in our 2020 Form 10-K.

The impact of coronavirus (COVID-19) and related risks could materially affect our operations, financial position, results of operations and cash flows.

The global outbreak of the novel coronavirus (COVID-19) was declared a pandemic by the World Health Organization and a national emergency by the U.S. government in March 2020 and has adversely affected the U.S. In response, both the public and private sectors have introduced certain policies and initiatives in an effort to reduce the transmission of COVID-19 ("Initiatives"), including the imposition of travel restrictions; the Guidance; mandates from federal, state and local authorities to close non-essential businesses and avoid large gatherings of people; quarantine or "shelter-in-place;" the promotion of social distancing, vaccination requirements and the adoption of work-from-home and online learning by companies and institutions. In addition, the continued spread of COVID-19 and the resulting Initiatives have led to, and may continue to lead to, business and global supply chain disruptions and volatility in the global capital markets.

We have modified, and might further modify, our business practices as a result of the COVID-19 pandemic, the economic and social ramifications of the disease, and the societal and governmental responses in the communities in which we operate. In accordance with the President’s executive order issued on September 9, 2021, executive departments and agencies have been directed to require federal contractors, and their subcontractors, to comply with the Guidance regarding COVID-19 workplace safeguards. The Guidance, issued September 24, 2021, requires federal contractors and their subcontractors to mandate COVID-19 vaccinations of covered employees (as defined in the Guidance), subject to medical and religious exemptions. As a federal contractor, we are subject to the Guidance, and as a result have required our employees to be fully vaccinated, subject to qualifying exemptions. The Guidance also sets forth certain other requirements applicable to the federal contractors’ workplaces.

We do not believe that COVID-19 had a material impact on our financial position, results of operations and cash flows for the year ended December 31, 2020 or for the nine months ended September 30, 2021. The extent to which the COVID-19 pandemic will affect our business, financial position, results of operations and cash flows in the future is difficult to predict with certainty and depends on numerous evolving factors, including: the duration, scope and severity of the pandemic; the effectiveness of the COVID-19 vaccine in curbing the spread of the virus, the vaccination rates and the impact of the vaccine and testing mandates; government, social, business and other actions that have been and will be taken in response to the

pandemic, including with respect to mandatory vaccinations; and the effect of the pandemic on short- and long-term general economic conditions. Among other things, COVID-19 and the Initiatives could (1) adversely affect the availability of our suppliers and vendors or their ability to provide products and services to us; (2) result in decreased demand for our communications infrastructure; (3) make it more difficult for us to serve our tenants, including as a result of delays or suspensions in the issuance of permits or other authorizations needed to conduct our business; (4) increase our cost of capital and adversely impact our access to capital; and (5) result in difficulty fulfilling our labor needs. Due to factors beyond our knowledge or control, including the duration and severity of COVID-19, as well as third-party actions taken to contain its spread and mitigate its public health effects, at this time we cannot estimate or predict with certainty the impact of COVID-19, the Initiatives or the measures we or others take in response thereto on our business, financial position, results of operations and cash flows, particularly over the near- to medium-term, but the impact could be material. See "Part I - Item 2. MD&A—General Overview—Coronavirus (COVID-19)" for further information.

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

The following table summarizes information with respect to purchase of our equity securities during the third quarter of 2021:

We paid $0.5 million in cash to effect these purchases. The shares purchased relate to shares withheld in connection with the payment of withholding taxes upon vesting of restricted stock units.