SBA COMMUNICATIONS CORP — Director's Dealing 2015

Aug 20, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2015-08-17

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-08-17	Class A Common Stock	M	3157	$35.71	Acquired	9320	Direct
2015-08-17	Class A Common Stock	M	6006	$42.15	Acquired	15326	Direct
2015-08-17	Class A Common Stock	S	9163	$127.91	Disposed	6163	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-08-17	Stock Options (Right to Buy)	$35.71	M	3157	Disposed	2017-03-04	Class A Common Stock (3157)	Direct
2015-08-17	Stock Options (Right to Buy)	$42.15	M	6006	Disposed	2018-03-04	Class A Common Stock (6006)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$19.68	2016-03-05	Class A Common Stock (892)	892	Direct
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: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $127.87 to $127.95 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: 3,160 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: 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).

F6: 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).

F7: 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).

F8: 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).

F9: 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).

F10: 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).

F11: 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).