SBA COMMUNICATIONS CORP — Director's Dealing 2016

Sep 13, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2016-09-08

Reporting Person: Cavanagh Brendan Thomas (Executive Vice President & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-09-08	Class A Common Stock	M	25609	$35.71	Acquired	44762	Direct
2016-09-08	Class A Common Stock	F	10675	$118.47	Disposed	34087	Direct
2016-09-08	Class A Common Stock	M	2800	$35.71	Acquired	36887	Direct
2016-09-08	Class A Common Stock	F	844	$118.47	Disposed	36043	Direct
2016-09-08	Class A Common Stock	M	2372	$42.15	Acquired	38415	Direct
2016-09-08	Class A Common Stock	F	844	$118.47	Disposed	37571	Direct
2016-09-08	Class A Common Stock	M	2104	$47.52	Acquired	39675	Direct
2016-09-08	Class A Common Stock	F	844	$118.47	Disposed	38831	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-09-08	Stock Options (Right to Buy)	$35.71	M	28409	Disposed	2017-03-04	Class A Common Stock (28409)	Direct
2016-09-08	Stock Options (Right to Buy)	$42.15	M	2372	Disposed	2018-03-04	Class A Common Stock (2372)	Direct
2016-09-08	Stock Options (Right to Buy)	$47.52	M	2104	Disposed	2019-03-06	Class A Common Stock (2104)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$72.99	2020-03-06	Class A Common Stock (47199)	47199	Direct
Restricted Stock Units	$		Class A Common Stock (1545)	1545	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (60588)	60588	Direct
Restricted Stock Units	$		Class A Common Stock (3073)	3073	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (54411)	54411	Direct
Restricted Stock Units	$		Class A Common Stock (4085)	4085	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (68258)	68258	Direct
Restricted Stock Units	$		Class A Common Stock (6672)	6672	Direct

Footnotes

F1: Shares withheld to cover the exercise price and for payment of tax liability.

F2: Represents shares delivered to the Company to cover the exercise price.

F3: These options are immediately exercisable.

F4: These options vest in accordance with the following schedule: 11,799 vest on the first anniversary of the grant date and 11,800 vest on each of the second through fourth anniversaries of the grant date (March 6, 2013).

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: 1,545 vest on each of the first through fourth anniversaries of the grant date (March 6, 2013).

F7: These options vest in accordance with the following schedule: 15,147 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014).

F8: These restricted stock units vest in accordance with the following schedule: 1,536 vest on each of the first and third anniversary of the grant date and 1,537 vest on each of the second and fourth anniversary of the grant date (March 6, 2014).

F9: These options vest in accordance with the following schedule: 13,602 vest on the first anniversary of the grant date and 13,603 vest on each of the second through fourth anniversaries of the grant date (March 5, 2015).

F10: These restricted stock units vest in accordance with the following schedule: 1,361 vest on each of the first and third anniversary of the grant date and 1,362 vest on each of the second and fourth anniversary of the grant date (March 5, 2015).

F11: These options vest in accordance with the following schedule: 17,064 vest on each of the first and third anniversary of the grant date and 17,065 vest on each of the second and fourth anniversary of the grant date (March 4, 2016).

F12: These restricted stock units vest in accordance with the following schedule: 1,668 vest on each of the first through fourth anniversaries of the grant date (March 4, 2016).