X0306 4 2018-05-17 0 0001034054 SBA COMMUNICATIONS CORP SBAC 0001473955 Krouse George R Jr C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON FL 33487 1 0 0 0 Class A Common Stock 2018-05-17 4 M 0 2202 96.80 A 12733 D Class A Common Stock 2018-05-17 4 S 0 2202 157.56 D 10531 D Stock Options (Right to Buy) 96.80 2018-05-17 4 M 0 2202 0.00 D 2021-05-08 Class A Common Stock 2202 0 D Stock Options (Right to Buy) 113.55 2022-05-21 Class A Common Stock 1899 1899 D Stock Options (Right to Buy) 100.00 2023-05-13 Class A Common Stock 2308 2308 D Restricted Stock Units Class A Common Stock 303 303 D Stock Options (Right to Buy) 132.00 2024-05-18 Class A Common Stock 1977 1977 D Restricted Stock Units Class A Common Stock 539 539 D Stock Options (Right to Buy) 157.51 2018-05-17 4 A 0 1411 0.00 A 2025-05-17 Class A Common Stock 1411 1411 D Restricted Stock Units 2018-05-17 4 A 0 602 0.00 A Class A Common Stock 602 602 D Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $157.55 to $157.57 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. These options are immediately exercisable. These options vest in accordance with the following schedule: 633 vest on the earlier of May 21, 2016 or the day immediately prior to the 2016 annual meeting of shareholders; 633 vest on the earlier of May 21, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; and 633 vest on the earlier of May 21, 2018 or the day immediately prior to the 2018 annual meeting of shareholders. These options vest in accordance with the following schedule: 769 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 769 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 770 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders. 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: 302 vest on the earlier of May 13, 2017 or the day immediately prior to the 2017 annual meeting of shareholders; 302 vest on the earlier of May 13, 2018 or the day immediately prior to the 2018 annual meeting of shareholders; and 303 vest on the earlier of May 13, 2019 or the day immediately prior to the 2019 annual meeting of shareholders. These options vest in accordance with the following schedule: 658 vest on May 1, 2018; 659 vest on May 1, 2019; and 660 vest on May 1, 2020. These restricted stock units vest in accordance with the following schedule: 268 vest on May 1, 2018; 269 vest on May 1, 2019; and 270 vest on May 1, 2020. These options vest in accordance with the following schedule: 470 vest on May 1, 2019; 470 vest on May 1, 2020; and 471 vest on May 1, 2021. These restricted stock units vest in accordance with the following schedule: 200 vest on May 1, 2019; 201 vest on May 1, 2020; and 201 vest on May 1, 2021. /s/Thomas P. Hunt, Attorney-in-Fact 2018-05-21