SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Cavanagh Brendan Thomas

(Last) (First) (Middle)
C/O SBA COMMUNICATIONS CORPORATION
5900 BROKEN SOUND PARKWAY NW

(Street)
BOCA RATON FL 33487

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP [ SBAC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
Senior Vice President & CFO
3. Date of Earliest Transaction (Month/Day/Year)
09/16/2013
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 09/16/2013 M 40,000 A $32.39 46,628(1) D
Class A Common Stock 09/16/2013 M 61,628 A $19.68 108,256 D
Class A Common Stock 09/16/2013 S 101,628 D $77.04(2) 6,628 D
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Options (Right to Buy) $32.39 09/16/2013 M 40,000 (3) 02/28/2015 Class A Common Stock 40,000 $0 0 D
Stock Options (Right to Buy) $19.68 09/16/2013 M 61,628 (3) 03/05/2016 Class A Common Stock 61,628 $0 0 D
Stock Options (Right to Buy) $35.71 (4) 03/04/2017 Class A Common Stock 28,409 28,409 D
Restricted Stock Units (5) (6) (6) Class A Common Stock 1,621 1,621 D
Stock Options (Right to Buy) $42.15 (7) 03/04/2018 Class A Common Stock 29,593 29,593 D
Restricted Stock Units (5) (8) (8) Class A Common Stock 3,405 3,405 D
Stock Options (Right to Buy) $47.52 (9) 03/06/2019 Class A Common Stock 31,103 31,103 D
Restricted Stock Units (5) (10) (10) Class A Common Stock 5,159 5,159 D
Stock Options (Right to Buy) $72.99 (11) 03/06/2020 Class A Common Stock 47,199 47,199 D
Restricted Stock Units (5) (12) (12) Class A Common Stock 6,180 6,180 D
Explanation of Responses:
1. Includes 330 shares acquired on May 31, 2013 pursuant to the SBA Communications Corporation 2008 Employee Stock Purchase Plan.
2. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $76.79 to $77.16 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.
3. These options are immediately exercisable.
4. These options vest in accordance with the following schedule: 7,102 vest on each of the first through the third anniversaries of the grant date and 7,103 vest on the fourth anniversary of the grant date (March 4, 2010).
5. Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
6. These restricted stock units vest in accordance with the following schedule: 1,621 vest on each of the first through fourth anniversaries of the grant date (March 4, 2010).
7. These options vest in accordance with the following schedule: 7,398 vest on each of the first through third anniversaries of the grant date and 7,399 vest on the fourth anniversary of the grant date (March 4, 2011).
8. These restricted stock units vest in accordance with the following schedule: 1,702 vest on each of the first and third anniversary of the grant date and 1,703 vest on each of the second and fourth anniversary of the grant date (March 4, 2011).
9. These options vest in accordance with the following schedule: 7,775 vest on the first anniversary of the grant date and 7,776 vest on each of the second through fourth anniversaries of the grant date (March 6, 2012).
10. These restricted stock units vest in accordance with the following schedule: 1,719 vest on each of the first and third anniversary of the grant date and 1,720 vest on each of the second and fourth anniversary of the grant date (March 6, 2012).
11. These options vest in accordance with the following schedule: 11,799 vest on the first anniversary of the grant date and 11,800 vest on each of the second through fourth anniversaries of the grant date (March 6, 2013).
12. These restricted stock units vest in accordance with the following schedule: 1,545 vest on each of the first through fourth anniversaries of the grant date (March 6, 2013).
/s/ Joshua M. Koenig, Attorney-in-Fact 09/18/2013
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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