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: Lazarus Brian D (SVP & Chief Accounting Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-04	Class A Common Stock	M	681	—	Acquired	17090.828	Direct
2020-03-04	Class A Common Stock	F	268	$286.66	Disposed	16822.828	Direct
2020-03-06	Class A Common Stock	M	1035	$96.58	Acquired	17857.828	Direct
2020-03-06	Class A Common Stock	M	645	—	Acquired	18502.828	Direct
2020-03-06	Class A Common Stock	M	554	—	Acquired	19056.828	Direct
2020-03-06	Class A Common Stock	M	546	—	Acquired	19602.828	Direct
2020-03-06	Class A Common Stock	F	1000	$300.32	Disposed	18602.828	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2020-03-06	Stock Options (Right to Buy)	$96.58	M	1035	Disposed	2023-03-04	Class A Common Stock (1035)	Direct
2020-03-04	Restricted Stock Units	$	M	681	Disposed		Class A Common Stock (681)	Direct
2020-03-06	Restricted Stock Units	$	M	645	Disposed		Class A Common Stock (645)	Direct
2020-03-06	Restricted Stock Units	$	M	554	Disposed		Class A Common Stock (554)	Direct
2020-03-06	Restricted Stock Units	$	M	546	Disposed		Class A Common Stock (546)	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 (21243)	21243	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (23512)	23512	Direct
Restricted Stock Units	$		Class A Common Stock (1555)	1555	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1555)	1555	Direct
Performance Restricted Stock Units	$		Class A Common Stock (1555)	1555	Direct

Footnotes

F1: On March 4, 2020, 681 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, 645 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, 554 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, 546 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.

F6: Represents shares used to pay option exercise price or withheld for payment of tax liability.

F7: These options are immediately exercisable.

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: 680 vest on each of the first through third anniversaries of the grant date and 681 vest on the fourth anniversary of the grant date (March 4, 2016).

F10: These options vest in accordance with the following schedule: 6,282 vest on the first anniversary of the grant date and 6,283 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F11: These restricted stock units vest in accordance with the following schedule: 644 vest on the first anniversary of the grant date and 645 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F12: These options vest in accordance with the following schedule: 5,310 vest on the first anniversary of the grant date and 5,311 vest on each of the second through fourth anniversaries of the grant date (March 6, 2018).

F13: These restricted stock units vest in accordance with the following schedule: 553 vest on each of the first and third anniversaries of the grant date and 554 vest on each of the second and fourth anniversaries of the grant date (March 6, 2018).

F14: These options vest in accordance with the following schedule: 5,878 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).

F15: These restricted stock units vest in accordance with the following schedule: 546 vest on each of the first and third anniversaries of the grant date and 547 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).

F16: These restricted stock units vest in accordance with the following schedule: 518 vest on the first and second anniversaries of the grant date and 519 vest on the third anniversary of the grant date (February 25, 2020).

F17: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

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.

F19: 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.