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: HUNT THOMAS P (Executive VP/General Counsel)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-04	Class A Common Stock	M	1975	—	Acquired	135726	Direct
2017-03-05	Class A Common Stock	M	1612	—	Acquired	137338	Direct
2017-03-06	Class A Common Stock	M	2045	—	Acquired	139383	Direct
2017-03-06	Class A Common Stock	M	1853	—	Acquired	141236	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-06	Restricted Stock Units	$	M	2045	Disposed		Class A Common Stock (2045)	Direct
2017-03-06	Restricted Stock Units	$	M	1853	Disposed		Class A Common Stock (1853)	Direct
2017-03-05	Restricted Stock Units	$	M	1612	Disposed		Class A Common Stock (1612)	Direct
2017-03-04	Restricted Stock Units	$	M	1975	Disposed		Class A Common Stock (1975)	Direct
2017-03-06	Stock Options (Right to Buy)	$115.17	A	68540	Acquired	2024-03-06	Class A Common Stock (68540)	Direct
2017-03-06	Restricted Stock Units	$	A	7035	Acquired		Class A Common Stock (7035)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$42.15	2018-03-04	Class A Common Stock (41147)	41147	Direct
Stock Options (Right to Buy)	$47.52	2019-03-06	Class A Common Stock (44908)	44908	Direct
Stock Options (Right to Buy)	$72.99	2020-03-06	Class A Common Stock (62448)	62448	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (73062)	73062	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (64435)	64435	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (80832)	80832	Direct

Footnotes

F1: On March 4, 2017, 1,975 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, 1,612 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, 2,045 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, 1,853 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: 2,044 vest on each of the first through the third anniversaries of the grant date and 2,045 vest on the fourth anniversary of the grant date (March 6, 2013).

F8: These options vest in accordance with the following schedule: 18,265 vest on each of the first and the third anniversary of the grant date and 18,266 vest on each of the second and the fourth anniversary of the grant date (March 6, 2014).

F9: These restricted stock units vest in accordance with the following schedule: 1,853 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014).

F10: These options vest in accordance with the following schedule: 16,108 vest on the first anniversary of the grant date and 16,109 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: 1,612 vest on each of the first through third anniversaries of the grant date and 1,613 vest on the fourth anniversary of the grant date (March 5, 2015).

F12: These options vest in accordance with the following schedule: 20,208 vest on each of the first through fourth anniversaries of the grant date (March 4, 2016).

F13: These restricted stock units vest in accordance with the following schedule: 1,975 vest on each of the first through third anniversaries of the grant date and 1,976 vest on the fourth anniversary of the grant date (March 4, 2016).

F14: These options vest in accordance with the following schedule: 17,135 vest on each of the first through fourth anniversaries of the grant date (March 6, 2017).

F15: These restricted stock units vest in accordance with the following schedule: 1,758 vest on the first anniversary of the grant date and 1,759 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).