X0306 4 2017-03-04 0 0001034054 SBA COMMUNICATIONS CORP SBAC 0001233318 HUNT THOMAS P C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON FL 33487 0 1 0 0 Executive VP/General Counsel Class A Common Stock 2017-03-04 4 M 0 1975 A 135726 D Class A Common Stock 2017-03-05 4 M 0 1612 A 137338 D Class A Common Stock 2017-03-06 4 M 0 2045 A 139383 D Class A Common Stock 2017-03-06 4 M 0 1853 A 141236 D Stock Options (Right to Buy) 42.15 2018-03-04 Class A Common Stock 41147 41147 D Stock Options (Right to Buy) 47.52 2019-03-06 Class A Common Stock 44908 44908 D Stock Options (Right to Buy) 72.99 2020-03-06 Class A Common Stock 62448 62448 D Restricted Stock Units 2017-03-06 4 M 0 2045 D Class A Common Stock 2045 0 D Stock Options (Right to Buy) 95.53 2021-03-06 Class A Common Stock 73062 73062 D Restricted Stock Units 2017-03-06 4 M 0 1853 D Class A Common Stock 1853 1853 D Stock Options (Right to Buy) 124.59 2022-03-05 Class A Common Stock 64435 64435 D Restricted Stock Units 2017-03-05 4 M 0 1612 D Class A Common Stock 1612 3225 D Stock Options (Right to Buy) 96.58 2023-03-04 Class A Common Stock 80832 80832 D Restricted Stock Units 2017-03-04 4 M 0 1975 D Class A Common Stock 1975 5926 D Stock Options (Right to Buy) 115.17 2017-03-06 4 A 0 68540 0.00 A 2024-03-06 Class A Common Stock 68540 68540 D Restricted Stock Units 2017-03-06 4 A 0 7035 0.00 A Class A Common Stock 7035 7035 D On March 4, 2017, 1,975 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 5, 2017, 1,612 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2017, 2,045 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2017, 1,853 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. These options are immediately exercisable. 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 each of the first through the 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). 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). 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). /s/ Thomas P. Hunt 2017-03-07