SBA COMMUNICATIONS CORP — Director's Dealing 2020

Mar 7, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SBA COMMUNICATIONS CORP (SBAC)
CIK: 0001034054
Period of Report: 2020-03-04

Reporting Person: SILBERSTEIN JASON V (EVP - Site Leasing)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-04	Class A Common Stock	M	1440	—	Acquired	10225	Direct
2020-03-04	Class A Common Stock	F	351	$286.66	Disposed	9874	Direct
2020-03-04	Class A Common Stock	M	57883	$96.58	Acquired	67757	Direct
2020-03-04	Class A Common Stock	S	57883	$292.00	Disposed	9874	Direct
2020-03-06	Class A Common Stock	M	1290	—	Acquired	11164	Direct
2020-03-06	Class A Common Stock	M	1057	—	Acquired	12221	Direct
2020-03-06	Class A Common Stock	M	1036	—	Acquired	13257	Direct
2020-03-06	Class A Common Stock	F	1332	$300.32	Disposed	11925	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-04	Stock Options (Right to Buy)	$96.58	M	57883	Disposed	2023-03-04	Class A Common Stock (57883)	Direct
2020-03-04	Restricted Stock Units	$	M	1440	Disposed		Class A Common Stock (1440)	Direct
2020-03-06	Restricted Stock Units	$	M	1290	Disposed		Class A Common Stock (1290)	Direct
2020-03-06	Restricted Stock Units	$	M	1057	Disposed		Class A Common Stock (1057)	Direct
2020-03-06	Restricted Stock Units	$	M	1036	Disposed		Class A Common Stock (1036)	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (50262)	50262	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (40556)	40556	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (44592)	44592	Direct
Restricted Stock Units	$		Class A Common Stock (2931)	2931	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2931)	2931	Direct
Performance Restricted Stock Units	$		Class A Common Stock (2931)	2931	Direct

Footnotes

F1: On March 4, 2020, 1,440 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 6, 2020, 1,290 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, 2020, 1,057 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, 2020, 1,036 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: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F8: These restricted stock units vest in accordance with the following schedule: 1,439 vest on the first anniversary of the grant date and 1,440 vest on each of the second through fourth anniversaries of the grant date (March 4, 2016).

F9: These options vest in accordance with the following schedule: 12,565 vest on each of the first and the second anniversary of the grant date and 12,566 vest on each of the third and the fourth anniversary of the grant date (March 6, 2017).

F10: These restricted stock units vest in accordance with the following schedule: 1,289 vest on the first anniversary of the grant date and 1,290 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F11: These options vest in accordance with the following schedule: 10,139 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).

F12: These restricted stock units vest in accordance with the following schedule: 1,056 vest on the first anniversary of the grant date and 1,057 vest on each of the second through fourth anniversaries of the grant date (March 6, 2018).

F13: These options vest in accordance with the following schedule: 11,148 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F14: These restricted stock units vest in accordance with the following schedule: 1,036 vest on first anniversary of the grant date and 1,037 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).

F15: These restricted stock units vest in accordance with the following schedule: 977 vest on each of the first through third anniversaries of the grant date (February 25, 2020).

F16: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F17: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.

F18: These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition.