SBA COMMUNICATIONS CORP — Director's Dealing 2015

Dec 19, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2015-12-17

Reporting Person: SILBERSTEIN JASON V (EVP - Site Leasing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-17	Class A Common Stock	M	6528	$42.15	Acquired	19005	Direct
2015-12-17	Class A Common Stock	M	20583	$47.52	Acquired	39588	Direct
2015-12-17	Class A Common Stock	M	20876	$72.99	Acquired	60464	Direct
2015-12-17	Class A Common Stock	S	49491	$101.20	Disposed	10973	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-17	Stock Options (Right to Buy)	$42.15	M	6528	Disposed	2018-03-04	Class A Common Stock (6528)	Direct
2015-12-17	Stock Options (Right to Buy)	$47.52	M	20583	Disposed	2019-03-06	Class A Common Stock (20583)	Direct
2015-12-17	Stock Options (Right to Buy)	$72.99	M	20876	Disposed	2020-03-06	Class A Common Stock (20876)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Restricted Stock Units	$		Class A Common Stock (1518)	1518	Direct
Restricted Stock Units	$		Class A Common Stock (2734)	2734	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (51322)	51322	Direct
Restricted Stock Units	$		Class A Common Stock (3905)	3905	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (46965)	46965	Direct
Restricted Stock Units	$		Class A Common Stock (4701)	4701	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $101.00 to $101.57 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: These options are immediately exercisable.

F3: These options vest in accordance with the following schedule: 6,861 vest on each of the first through fourth anniversaries of the grant date (March 6, 2012).

F4: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F5: These restricted stock units vest in accordance with the following schedule: 1,517 vest on each of the first through third anniversaries of the grant date and 1,518 vest on the fourth anniversary of the grant date (March 6, 2012).

F6: These options vest in accordance with the following schedule: 10,438 vest on each of the first through third anniversaries of the grant date and 10,439 vest on the fourth anniversary of the grant date (March 6, 2013).

F7: These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 vest on each of the second through fourth anniversaries of the grant date (March 6, 2013).

F8: These options vest in accordance with the following schedule: 12,830 vest on each of the first and the third anniversary of the grant date and 12,831 vest on each of the second and the fourth anniversary of the grant date (March 6, 2014).

F9: These restricted stock units vest in accordance with the following schedule: 1,301 vest on each of the first and the third anniversary of the grant date and 1,302 vest on each of the second and the fourth anniversary of the grant date (March 6, 2014).

F10: These options vest in accordance with the following schedule: 11,741 vest on each of the first through third anniversaries of the grant date and 11,742 vest on the fourth anniversary of the grant date (March 5, 2015).

F11: These restricted stock units vest in accordance with the following schedule: 1,175 vest on each of the first through third anniversaries of the grant date and 1,176 vest on the fourth anniversary of the grant date (March 5, 2015).