SBA COMMUNICATIONS CORP — Director's Dealing 2019

Mar 7, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2019-03-04

Reporting Person: Ciarfella Mark R (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-03-04	Class A Common Stock	M	944	—	Acquired	14757	Direct
2019-03-04	Class A Common Stock	F	245	$182.11	Disposed	14512	Direct
2019-03-05	Class A Common Stock	M	1	$47.52	Acquired	14513	Direct
2019-03-05	Class A Common Stock	M	1046	$95.53	Acquired	15559	Direct
2019-03-05	Class A Common Stock	M	5101	$124.59	Acquired	20660	Direct
2019-03-05	Class A Common Stock	S	6148	$183.00	Disposed	14512	Direct
2019-03-05	Class A Common Stock	M	753	—	Acquired	15265	Direct
2019-03-05	Class A Common Stock	F	184	$182.48	Disposed	15081	Direct
2019-03-06	Class A Common Stock	M	860	—	Acquired	15941	Direct
2019-03-06	Class A Common Stock	M	704	—	Acquired	16645	Direct
2019-03-06	Class A Common Stock	F	382	$182.10	Disposed	16263	Direct
2019-03-06	Class A Common Stock	M	2417	$124.59	Acquired	18680	Direct
2019-03-06	Class A Common Stock	M	3430	$96.58	Acquired	22110	Direct
2019-03-06	Class A Common Stock	S	5847	$183.00	Disposed	16263	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-03-05	Stock Options (Right to Buy)	$47.52	M	1	Disposed	2019-03-06	Class A Common Stock (1)	Direct
2019-03-05	Stock Options (Right to Buy)	$95.53	M	1046	Disposed	2021-03-06	Class A Common Stock (1046)	Direct
2019-03-05	Stock Options (Right to Buy)	$124.59	M	4101	Disposed	2022-03-05	Class A Common Stock (5101)	Direct
2019-03-06	Stock Options (Right to Buy)	$124.59	M	2417	Disposed	2022-03-05	Class A Common Stock (2417)	Direct
2019-03-05	Restricted Stock Units	$	M	753	Disposed		Class A Common Stock (753)	Direct
2019-03-06	Stock Options (Right to Buy)	$96.58	M	3430	Disposed	2023-03-04	Class A Common Stock (3430)	Direct
2019-03-04	Restricted Stock Units	$	M	944	Disposed		Class A Common Stock (944)	Direct
2019-03-06	Restricted Stock Units	$	M	860	Disposed		Class A Common Stock (860)	Direct
2019-03-06	Restricted Stock Units	$	M	704	Disposed		Class A Common Stock (704)	Direct
2019-03-06	Stock Options (Right to Buy)	$182.30	A	29796	Acquired	2026-03-06	Class A Common Stock (29796)	Direct
2019-03-06	Restricted Stock Units	$	A	2771	Acquired		Class A Common Stock (2771)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (25131)	25131	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (27037)	27037	Direct

Footnotes

F1: On March 4, 2019, 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: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $183.00 to $183.06 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: On March 5, 2019, 753 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, 2019, 860 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, 2019, 704 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F7: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $183.00 to $183.03 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.

F8: These options are immediately exercisable.

F9: 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).

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: 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).

F18: These options vest in accordance with the following schedule: 7,449 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F19: These restricted stock units vest in accordance with the following schedule: 692 vest on first anniversary of the grant date and 693 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).