SBA COMMUNICATIONS CORP — Director's Dealing 2012

May 24, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2012-05-22

Reporting Person: STOOPS JEFFREY (Director, Chief Executive Officer & Pres)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-22	Class A Common Stock	S	52187	$50.92	Disposed	244785	Direct
2012-05-23	Class A Common Stock	S	47813	$50.51	Disposed	196972	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	4500	Indirect
Class A Common Stock	4500	Indirect
Class A Common Stock	4500	Indirect
Class A Common Stock	3350	Indirect
Class A Common Stock	569863	Indirect

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $50.75 to $51.17 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

F2: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $50.26 to $50.76 per share. The Reporting Person, upon request, will provide the Securities and Exchange Commission staff, the issuer or a security holder of the issuer full information regarding the number of shares sold at each separate price.

F3: Each of the four different trusts is for the benefit of one of the reporting person's four children.

F4: These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.