X0306 5 2016-12-31 0 0 1 0001034054 SBA COMMUNICATIONS CORP SBAC 0001175022 BAGWELL KURT L C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON FL 33487 0 1 0 0 EVP; Pres. - International Class A Common Stock 2016-08-08 4 M 0 L 2104 47.52 A 93830 D Class A Common Stock 2016-08-08 4 F 0 L 879 113.86 D 92951 D Stock Options (Right to Buy) 47.52 2016-08-08 4 M 0 L 2104 0.00 D 2019-03-06 Class A Common Stock 2104 9123 D Stock Options (Right to Buy) 72.99 2020-03-06 Class A Common Stock 46836 46836 D Restricted Stock Units Class A Common Stock 2045 2045 D Stock Options (Right to Buy) 95.53 2021-03-06 Class A Common Stock 73062 73062 D Restricted Stock Units Class A Common Stock 3706 3706 D Stock Options (Right to Buy) 124.59 2022-03-05 Class A Common Stock 64435 64435 D Restricted Stock Units Class A Common Stock 4837 4837 D Stock Options (Right to Buy) 96.58 2023-03-04 Class A Common Stock 80832 80832 D Restricted Stock Units Class A Common Stock 7901 7901 D This exercise of stock options and related disposition of shares to pay the option exercise price are reported late due to an inadvertent administrative oversight. Represents shares used to pay option exercise price. These options are immediately exercisable. These options vest in accordance with the following schedule: 15,612 vest on each of the first through fourth anniversaries of the grant date and 2,045 vest on the fourth anniversary of the grant date (March 6, 2013). Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. These restricted stock units vest in accordance with the following schedule: 2,044 vest on the first through third anniversaries of the grant date and 2,045 vest on the fourth anniversary of the grant date (March 6, 2013). These options vest in accordance with the following schedule: 18,265 vest on each of the first and the third anniversary of the grant date and 18,266 vest on each of the second and the fourth anniversary of the grant date (March 6, 2014). These restricted stock units vest in accordance with the following schedule: 1,853 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014). These options vest in accordance with the following schedule: 16,108 vest on the first anniversary of the grant date and 16,109 vest on each of the second through fourth anniversaries of the grant date (March 5, 2015). These restricted stock units vest in accordance with the following schedule: 1,612 vest on each of the first through third anniversaries of the grant date and 1,613 vest on the fourth anniversary of the grant date (March 5, 2015). These options vest in accordance with the following schedule: 20,208 vest on each of the first through fourth anniversaries of the grant date (March 4, 2016). 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). /s/ Thomas P. Hunt, Attorney-in-Fact 2017-02-14