SBA COMMUNICATIONS CORP — Director's Dealing 2016

Sep 14, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2016-09-12

Reporting Person: LANGER JACK (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-12	Class A Common Stock	M	681	$32.81	Acquired	22942	Indirect
2016-09-12	Class A Common Stock	F	337	$110.32	Disposed	22605	Indirect
2016-09-12	Class A Common Stock	M	1343	$37.76	Acquired	23948	Indirect
2016-09-12	Class A Common Stock	F	708	$110.32	Disposed	23240	Indirect
2016-09-12	Class A Common Stock	M	1643	$50.35	Acquired	24883	Indirect
2016-09-12	Class A Common Stock	F	1000	$110.32	Disposed	23883	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-12	Stock Options (Right to Buy)	$32.81	M	681	Disposed	2017-05-06	Class A Common Stock (681)	Indirect
2016-09-12	Stock Options (Right to Buy)	$37.76	M	1343	Disposed	2018-05-04	Class A Common Stock (1343)	Indirect
2016-09-12	Stock Options (Right to Buy)	$50.35	M	1643	Disposed	2019-05-17	Class A Common Stock (1643)	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	1727	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$79.67	2020-05-09	Class A Common Stock (1999)	1999	Direct
Stock Options (Right to Buy)	$96.80	2021-05-08	Class A Common Stock (2202)	2202	Direct
Restricted Stock Units	$		Class A Common Stock (303)	303	Direct
Stock Options (Right to Buy)	$113.55	2022-05-21	Class A Common Stock (1899)	1899	Direct
Restricted Stock Units	$		Class A Common Stock (498)	498	Direct
Stock Options (Right to Buy)	$100.00	2023-05-13	Class A Common Stock (2308)	2308	Direct
Restricted Stock Units	$		Class A Common Stock (907)	907	Direct

Footnotes

F1: The securities are held by The Jack Langer 2012 Irrevocable Family Trust for estate planning purposes. The trustee of the trust is the reporting person's spouse. The reporting person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein.

F2: Shares withheld to cover the exercise price and for payment of tax liability.

F3: These options are immediately exercisable.

F4: These options vest in accordance with the following schedule: 734 vest on the earlier of May 8, 2015 or the day immediately prior to the 2015 annual meeting of shareholders; 734 vest on the earlier of May 8, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; and 734 vest on the earlier of May 8, 2017 or the day immediately prior to the 2017 annual meeting of shareholders.

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: 303 vest on the earlier of May 8, 2015 or the day immediately prior to the 2015 annual meeting of shareholders; 303 vest on the earlier of May 8, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; and 303 vest on the earlier of May 8, 2017 or the day immediately prior to the 2017 annual meeting of shareholders.

F7: These options vest in accordance with the following schedule: 633 vest on the earlier of May 21, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; 633 vest on the earlier of May 21, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; and 633 vest on the earlier of May 21, 2018 or the day immediately prior to the 2018 annual meeting of shareholders.

F8: These restricted stock units vest in accordance with the following schedule: 249 vest on the earlier of May 21, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; 249 vest on the earlier of May 21, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; and 249 vest on the earlier of May 21, 2018 or the day immediately prior to the 2018 annual meeting of shareholders.

F9: These options vest in accordance with the following schedule: 769 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 769 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 770 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders.

F10: These restricted stock units vest in accordance with the following schedule: 302 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 302 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 303 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders.