SBA COMMUNICATIONS CORP — Director's Dealing 2018

Nov 10, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2018-11-08

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-11-08	Class A Common Stock	S	40000	$170.47	Disposed	214943	Direct
2018-11-09	Class A Common Stock	M	48346	$47.52	Acquired	263289	Direct
2018-11-09	Class A Common Stock	F	27148	$171.52	Disposed	236141	Direct
2018-11-09	Class A Common Stock	S	15261	$171.38	Disposed	434602	Indirect
2018-11-09	Class A Common Stock	S	24739	$171.93	Disposed	409863	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-11-09	Stock Options (Right to Buy)	$47.52	M	48346	Disposed	2019-03-06	Class A Common Stock (48346)	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)	$72.99	2020-03-06	Class A Common Stock (143858)	143858	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (174483)	174483	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 (4022)	4022	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 (9854)	9854	Direct
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (173635)	173635	Direct
Restricted Stock Units	$		Class A Common Stock (13368)	13368	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (137601)	137601	Direct
Restricted Stock Units	$		Class A Common Stock (14343)	14343	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $170.18 to $170.75 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.

F2: Shares withheld for payment of tax liability and option exercise price.

F3: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $170.74 to $171.74 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: 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.

F5: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $171.76 to $172.29 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.

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: 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).

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: 4,021 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).

F11: 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).

F12: 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).

F13: 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).

F14: 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).

F15: These options vest in accordance with the following schedule: 34,400 vest on each of the first through third anniversaries of the grant date and 34,401 vest on the fourth anniversary of the grant date (March 6, 2018).

F16: These restricted stock units vest in accordance with the following schedule: 3,585 vest on the first anniversary of the grant date and 3,586 vest on each of the second through fourth anniversaries of the grant date (March 6, 2018).