SBA COMMUNICATIONS CORP — Director's Dealing 2016

Aug 12, 2016

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: STOOPS JEFFREY (Director, Chief Executive Officer & Pres)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2016-08-09	Class A Common Stock	S	50000	$115.91	Disposed	489863	Indirect
2016-08-10	Class A Common Stock	S	36092	$116.29	Disposed	336592	Direct
2016-08-10	Class A Common Stock	S	13908	$117.00	Disposed	322684	Direct
2016-08-11	Class A Common Stock	M	95111	$42.15	Acquired	417795	Direct
2016-08-11	Class A Common Stock	F	35111	$116.16	Disposed	382684	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2016-08-11	Stock Options (Right to Buy)	$42.15	M	95111	Disposed	2018-03-04	Class A Common Stock (95111)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	5675	Indirect
Class A Common Stock	5425	Indirect
Class A Common Stock	5175	Indirect
Class A Common Stock	3950	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$47.52	2019-03-06	Class A Common Stock (106450)	106450	Direct
Stock Options (Right to Buy)	$72.99	2020-03-06	Class A Common Stock (145228)	145228	Direct
Restricted Stock Units	$		Class A Common Stock (4755)	4755	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (175529)	175529	Direct
Restricted Stock Units	$		Class A Common Stock (8904)	8904	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (160715)	160715	Direct
Restricted Stock Units	$		Class A Common Stock (12066)	12066	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (201614)	201614	Direct
Restricted Stock Units	$		Class A Common Stock (19707)	19707	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $115.74 to $116.37 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 shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.

F3: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $116.00 to $116.75 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.

F4: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $116.76 to $117.33 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.

F5: Shares withheld for payment of tax liability and option exercise price.

F6: Each of the four different trusts is for the benefit of one of the Reporting Person's four children.

F7: These options are immediately exercisable.

F8: These options vest in accordance with the following schedule: 36,307 vest on each of the first through fourth anniversaries of the grant date (March 6, 2013).

F9: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F10: These restricted stock units vest in accordance with the following schedule: 4,754 vest on each of the first through third anniversaries of the grant date and 4,755 vest on the fourth anniversary of the grant date (March 6, 2013).

F11: These options vest in accordance with the following schedule: 43,882 vest on each of the first through third anniversaries of the grant date and 43,883 vest on the fourth anniversary of the grant date (March 6, 2014).

F12: These restricted stock units vest in accordance with the following schedule: 4,451 vest on the first anniversary of the grant date and 4,452 on each of the second through fourth anniversaries of the grant date (March 6, 2014).

F13: These options vest in accordance with the following schedule: 40,178 vest on the first anniversary of the grant date and 40,179 vest on each of the second through fourth anniversaries of the grant date (March 5, 2015).

F14: These restricted stock units vest in accordance with the following schedule: 4,021 vest on the first anniversary of the grant date and 4,022 vest on each of the second through fourth anniversaries of the grant date (March 5, 2015).

F15: These options vest in accordance with the following schedule: 50,403 vest on each of the first and third anniversary of the grant date and 50,404 vest on each of the second and fourth anniversary of the grant date (March 4, 2016).

F16: These restricted stock units vest in accordance with the following schedule: 4,926 vest on the first anniversary of the grant date and 4,927 vest on each of the second through fourth anniversaries of the grant date (March 4, 2016).