SBA COMMUNICATIONS CORP — Director's Dealing 2018

Mar 7, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2018-03-04

Reporting Person: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-03-04	Class A Common Stock	M	944	—	Acquired	12692	Direct
2018-03-04	Class A Common Stock	F	352	$152.91	Disposed	12340	Direct
2018-03-05	Class A Common Stock	M	752	—	Acquired	13092	Direct
2018-03-05	Class A Common Stock	F	298	$152.91	Disposed	12794	Direct
2018-03-06	Class A Common Stock	M	769	—	Acquired	13563	Direct
2018-03-06	Class A Common Stock	M	859	—	Acquired	14422	Direct
2018-03-06	Class A Common Stock	F	609	$156.68	Disposed	13813	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2018-03-06	Restricted Stock Units	$	M	769	Disposed		Class A Common Stock (769)	Direct
2018-03-05	Restricted Stock Units	$	M	752	Disposed		Class A Common Stock (752)	Direct
2018-03-04	Restricted Stock Units	$	M	944	Disposed		Class A Common Stock (944)	Direct
2018-03-06	Restricted Stock Units	$	M	859	Disposed		Class A Common Stock (859)	Direct
2018-03-06	Stock Options (Right to Buy)	$156.50	A	27037	Acquired	2025-03-06	Class A Common Stock (27037)	Direct
2018-03-06	Restricted Stock Units	$	A	2818	Acquired		Class A Common Stock (2818)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$47.52	2019-03-06	Class A Common Stock (1)	1	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (19792)	19792	Direct
Stock Options (Right to Buy)	$95.53	2021-03-06	Class A Common Stock (7574)	7574	Direct
Stock Options (Right to Buy)	$124.59	2022-03-05	Class A Common Stock (30069)	30069	Direct
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (28965)	28965	Direct
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (33508)	33508	Direct

Footnotes

F1: On March 4, 2018, 944 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F2: Shares withheld for payment of tax liability.

F3: On March 5, 2018, 752 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, 2018, 769 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, 2018, 859 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F6: These options are immediately exercisable.

F7: These options vest in accordance with the following schedule: 7,573 vest on each of the first and the third anniversary of the grant date and 7,574 vest on each of the second and the fourth anniversary of the grant date (March 6, 2014).

F8: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F9: These restricted stock units vest in accordance with the following schedule: 768 vest on each of the first through third anniversaries of the grant date and 769 vest on the fourth anniversary of the grant date (March 6, 2014).

F10: These options vest in accordance with the following schedule: 7,517 vest on each of the first through third anniversaries of the grant date and 7,518 vest on the fourth anniversary of the grant date (March 5, 2015).

F11: These restricted stock units vest in accordance with the following schedule: 752 vest on each of the first through third anniversaries of the grant date and 753 vest on the fourth anniversary of the grant date (March 5, 2015).

F12: These options vest in accordance with the following schedule: 9,655 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: 943 vest on the first anniversary of the grant date and 944 vest on each of the second through fourth anniversaries of the grant date (March 4, 2016).

F14: These options vest in accordance with the following schedule: 8,377 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: 859 vest on the first anniversary of the grant date and 860 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F16: These options vest in accordance with the following schedule: 6,759 vest on each of the first through third anniversaries of the grant date and 6,760 vest on the fourth anniversary of the grant date (March 6, 2018).

F17: These restricted stock units vest in accordance with the following schedule: 704 vest on each of the first and the third anniversaries of the grant date and 705 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).