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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-04	Class A Common Stock	M	4926	—	Acquired	357873	Direct
2017-03-04	Class A Common Stock	F	2067	$114.98	Disposed	355806	Direct
2017-03-05	Class A Common Stock	M	4022	—	Acquired	359828	Direct
2017-03-05	Class A Common Stock	F	1688	$114.98	Disposed	358140	Direct
2017-03-06	Class A Common Stock	M	4755	—	Acquired	362895	Direct
2017-03-06	Class A Common Stock	M	4452	—	Acquired	367347	Direct
2017-03-06	Class A Common Stock	F	3363	$114.98	Disposed	363984	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-06	Restricted Stock Units	$	M	4755	Disposed		Class A Common Stock (4755)	Direct
2017-03-06	Restricted Stock Units	$	M	4452	Disposed		Class A Common Stock (4452)	Direct
2017-03-05	Restricted Stock Units	$	M	4022	Disposed		Class A Common Stock (4022)	Direct
2017-03-04	Restricted Stock Units	$	M	4926	Disposed		Class A Common Stock (4926)	Direct
2017-03-06	Stock Options (Right to Buy)	$115.17	A	173635	Acquired	2024-03-06	Class A Common Stock (173635)	Direct
2017-03-06	Restricted Stock Units	$	A	17823	Acquired		Class A Common Stock (17823)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	489863	Indirect
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
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (175529)	175529	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (160715)	160715	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (201614)	201614	Direct

Footnotes

F1: On March 4, 2017, 4,926 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Includes 221 shares acquired on February 27, 2017 pursuant to the SBA Communications Corporation 2008 Employee Stock Purchase Plan.

F3: Shares withheld for payment of tax liability.

F4: On March 5, 2017, 4,022 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F5: On March 6, 2017, 4,755 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F6: On March 6, 2017, 4,452 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F7: 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.

F8: Each of the four different trusts is for the benefit of one of the Reporting Person's four children.

F9: These options are immediately exercisable.

F10: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F11: 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).

F12: 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).

F13: 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).

F14: 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).

F15: 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).

F16: 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).

F17: 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).

F18: These options vest in accordance with the following schedule: 43,408 vest on the first anniversary of the grant date and 43,409 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F19: These restricted stock units vest in accordance with the following schedule: 4,455 vest on the first anniversary of the grant date and 4,456 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).