SBA COMMUNICATIONS CORP — Director's Dealing 2017

Aug 30, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2017-08-25

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-08-25	Class A Common Stock	M	7376	$47.52	Acquired	17525	Direct
2017-08-25	Class A Common Stock	S	7376	$151.79	Disposed	10149	Direct
2017-08-28	Class A Common Stock	M	2104	$47.52	Acquired	12253	Direct
2017-08-28	Class A Common Stock	M	1370	$72.99	Acquired	13623	Direct
2017-08-28	Class A Common Stock	F	1316	$152.10	Disposed	12307	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-08-25	Stock Options (Right to Buy)	$47.52	M	7376	Disposed	2019-03-06	Class A Common Stock (7376)	Direct
2017-08-28	Stock Options (Right to Buy)	$47.52	M	2104	Disposed	2019-03-06	Class A Common Stock (2104)	Direct
2017-08-28	Stock Options (Right to Buy)	$72.99	M	1370	Disposed	2020-03-06	Class A Common Stock (1370)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (21607)	21607	Direct
Restricted Stock Units	$		Class A Common Stock (548)	548	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 (1075)	1075	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (27842)	27842	Direct
Restricted Stock Units	$		Class A Common Stock (2041)	2041	Direct
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (25131)	25131	Direct
Restricted Stock Units	$		Class A Common Stock (2579)	2579	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $151.71 to $151.86 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: 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: 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).

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: 548 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014).

F7: 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).

F8: 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).

F9: These options vest in accordance with the following schedule: 6,960 vest on each of the first and third anniversaries of the grant date and 6,961 vest on each of the second and fourth anniversaries of the grant date (March 4, 2016).

F10: These restricted stock units vest in accordance with the following schedule: 680 vest on each of the first through third anniversaries of the grant date and 681 vest on the fourth anniversary of the grant date (March 4, 2016).

F11: These options vest in accordance with the following schedule: 6,282 vest on the first anniversary of the grant date and 6,283 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F12: These restricted stock units vest in accordance with the following schedule: 644 vest on the first anniversary of the grant date and 645 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).