SBA COMMUNICATIONS CORP — Director's Dealing 2012

May 21, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2012-05-16

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-05-16	Class A Common Stock	G	4000	—	Disposed	296972	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: The reporting person gifted these shares to a 501(c)(3) institution in an exempt transaction pursuant to Rule 16b-5 of the Exchange Act.

F2: Each of the four different trusts is for the benefit of one of the reporting person's four children.

F3: 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.