SBA COMMUNICATIONS CORP — Director's Dealing 2015

Dec 4, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2015-12-02

Reporting Person: Lazarus Brian D (SVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-02	Class A Common Stock	M	892	$19.68	Acquired	7289	Direct
2015-12-02	Class A Common Stock	F	471	$109.45	Disposed	6818	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-02	Stock Options (Right to Buy)	$19.68	M	892	Disposed	2016-03-05	Class A Common Stock (892)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$47.52	2019-03-06	Class A Common Stock (9480)	9480	Direct
Restricted Stock Units	$		Class A Common Stock (699)	699	Direct
Stock Options (Right to Buy)	$72.99	2020-03-06	Class A Common Stock (17245)	17245	Direct
Restricted Stock Units	$		Class A Common Stock (1129)	1129	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (21607)	21607	Direct
Restricted Stock Units	$		Class A Common Stock (1644)	1644	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (21478)	21478	Direct
Restricted Stock Units	$		Class A Common Stock (2149)	2149	Direct

Footnotes

F1: Includes 234 shares acquired on November 30, 2015 pursuant to the SBA Communications Corporation 2008 Employee Stock Purchase Plan.

F2: Shares withheld for payment of tax liability and option exercise price.

F3: These options are immediately exercisable.

F4: These options vest in accordance with the following schedule: 3,160 vest on each of the first through fourth anniversaries of the grant date (March 6, 2012).

F5: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F6: These restricted stock units vest in accordance with the following schedule: 698 vest on the first anniversary of the grant date and 699 vest on each of the second through fourth anniversaries of the grant date (March 6, 2012).

F7: These options vest in accordance with the following schedule: 4,311 vest on each of the first through third anniversaries of the grant date and 4,312 vest on the fourth anniversary of the grant date (March 6, 2013).

F8: These restricted stock units vest in accordance with the following schedule: 564 vest on each of the first and third anniversaries of the grant date and 565 vest on each of the second and fourth anniversaries of the grant date (March 6, 2013).

F9: These options vest in accordance with the following schedule: 5,401 vest on the first anniversary of the grant date and 5,402 vest on each of the second through fourth anniversaries of the grant date (March 6, 2014).

F10: These restricted stock units vest in accordance with the following schedule: 548 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014).

F11: These options vest in accordance with the following schedule: 5,369 vest on each of the first and third anniversaries of the grant date and 5,370 vest on each of the second and fourth anniversaries of the grant date (March 5, 2015).

F12: These restricted stock units vest in accordance with the following schedule: 537 vest on each of the first through third anniversaries of the grant date and 538 vest on the fourth anniversary of the grant date (March 5, 2015).