SBA COMMUNICATIONS CORP — Director's Dealing 2020

Mar 6, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

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

Reporting Person: BAGWELL KURT L (EVP; Pres. - International)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-03-03	Class A Common Stock	S	4054	$290.00	Disposed	75580	Direct
2020-03-03	Class A Common Stock	S	6362	$295.02	Disposed	69218	Direct
2020-03-04	Class A Common Stock	S	19584	$290.00	Disposed	49634	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	26	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Options (Right to Buy)	$96.58	2023-03-04	Class A Common Stock (20208)	20208	Direct
Restricted Stock Units	$		Class A Common Stock (1976)	1976	Direct
Stock Options (Right to Buy)	$115.17	2024-03-06	Class A Common Stock (34270)	34270	Direct
Restricted Stock Units	$		Class A Common Stock (3518)	3518	Direct
Stock Options (Right to Buy)	$156.50	2025-03-06	Class A Common Stock (40556)	40556	Direct
Restricted Stock Units	$		Class A Common Stock (4227)	4227	Direct
Stock Options (Right to Buy)	$182.30	2026-03-06	Class A Common Stock (58781)	58781	Direct
Restricted Stock Units	$		Class A Common Stock (5467)	5467	Direct
Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct
Performance Restricted Stock Units	$		Class A Common Stock (3856)	3856	Direct

Footnotes

F1: Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $295.00 to $295.40 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: The trust is for the benefit of one of the Reporting Person's children.

F3: These options are immediately exercisable.

F4: Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F5: These restricted stock units vest in accordance with the following schedule: 1,975 vest on each of the first through third anniversaries of the grant date and 1,976 vest on the fourth anniversary of the grant date (March 4, 2016).

F6: These options vest in accordance with the following schedule: 17,135 vest on each of the first through fourth anniversaries of the grant date (March 6, 2017).

F7: These restricted stock units vest in accordance with the following schedule: 1,758 vest on the first anniversary of the grant date and 1,759 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

F8: These options vest in accordance with the following schedule: 13,518 vest on each of the first and the third anniversaries of the grant date, and 13,519 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).

F9: These restricted stock units vest in accordance with the following schedule: 1,409 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).

F10: These options vest in accordance with the following schedule: 14,695 vest on each of the first through third anniversaries of the grant date and 14,696 vest on the fourth anniversary of the grant date (March 6, 2019).

F11: These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).

F12: These restricted stock units vest in accordance with the following schedule: 1,285 vest on the first and second anniversaries of the grant date and 1,286 vest on the third anniversary of the grant date (February 25, 2020).

F13: Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.

F14: 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.

F15: 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.