SBA COMMUNICATIONS CORP — Director's Dealing 2017

Mar 8, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2017-03-04

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-04	Class A Common Stock	M	1668	—	Acquired	31749	Direct
2017-03-05	Class A Common Stock	M	1362	—	Acquired	33111	Direct
2017-03-06	Class A Common Stock	M	1536	—	Acquired	34647	Direct
2017-03-06	Class A Common Stock	M	1545	—	Acquired	36192	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-06	Restricted Stock Units	$	M	1545	Disposed		Class A Common Stock (1545)	Direct
2017-03-06	Restricted Stock Units	$	M	1536	Disposed		Class A Common Stock (1536)	Direct
2017-03-05	Restricted Stock Units	$	M	1362	Disposed		Class A Common Stock (1362)	Direct
2017-03-04	Restricted Stock Units	$	M	1668	Disposed		Class A Common Stock (1668)	Direct
2017-03-06	Stock Options (Right to Buy)	$115.17	A	60163	Acquired	2024-03-06	Class A Common (60163)	Direct
2017-03-06	Restricted Stock Units	$	A	6175	Acquired		Class A Common Stock (6175)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$42.15	2018-03-04	Class A Common Stock (27221)	27221	Direct
Stock Options (Right to Buy)	$47.52	2019-03-06	Class A Common Stock (28999)	28999	Direct
Stock Options (Right to Buy)	$72.99	2020-03-06	Class A Common Stock (47199)	47199	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (60588)	60588	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (54411)	54411	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (68258)	68258	Direct

Footnotes

F1: On March 4, 2017, 1,668 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: On March 5, 2017, 1,362 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F3: On March 6, 2017, 1,536 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F4: On March 6, 2017, 1,545 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: These options are immediately exercisable.

F6: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F7: 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).

F8: 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).

F9: 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).

F10: 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).

F11: 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).

F12: 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).

F13: 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).

F14: These options vest in accordance with the following schedule: 15,040 vest on the first anniversary of the grant date and 15,041 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F15: These restricted stock units vest in accordance with the following schedule: 1,543 vest on the first anniversary of the grant date and 1,544 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).