X0306 4 2019-03-04 0 0001034054 SBA COMMUNICATIONS CORP SBAC 0001504654 Ciarfella Mark R C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON FL 33487 0 1 0 0 EVP - Operations Class A Common Stock 2019-03-04 4 M 0 944 A 14757 D Class A Common Stock 2019-03-04 4 F 0 245 182.11 D 14512 D Class A Common Stock 2019-03-05 4 M 0 1 47.52 A 14513 D Class A Common Stock 2019-03-05 4 M 0 1046 95.53 A 15559 D Class A Common Stock 2019-03-05 4 M 0 5101 124.59 A 20660 D Class A Common Stock 2019-03-05 4 S 0 6148 183.00 D 14512 D Class A Common Stock 2019-03-05 4 M 0 753 A 15265 D Class A Common Stock 2019-03-05 4 F 0 184 182.48 D 15081 D Class A Common Stock 2019-03-06 4 M 0 860 A 15941 D Class A Common Stock 2019-03-06 4 M 0 704 A 16645 D Class A Common Stock 2019-03-06 4 F 0 382 182.10 D 16263 D Class A Common Stock 2019-03-06 4 M 0 2417 124.59 A 18680 D Class A Common Stock 2019-03-06 4 M 0 3430 96.58 A 22110 D Class A Common Stock 2019-03-06 4 S 0 5847 183.00 D 16263 D Stock Options (Right to Buy) 47.52 2019-03-05 4 M 0 1 0.00 D 2019-03-06 Class A Common Stock 1 0 D Stock Options (Right to Buy) 95.53 2019-03-05 4 M 0 1046 0.00 D 2021-03-06 Class A Common Stock 1046 0 D Stock Options (Right to Buy) 124.59 2019-03-05 4 M 0 4101 0.00 D 2022-03-05 Class A Common Stock 5101 2417 D Stock Options (Right to Buy) 124.59 2019-03-06 4 M 0 2417 0.00 D 2022-03-05 Class A Common Stock 2417 0 D Restricted Stock Units 2019-03-05 4 M 0 753 D Class A Common Stock 753 0 D Stock Options (Right to Buy) 96.58 2019-03-06 4 M 0 3430 0.00 D 2023-03-04 Class A Common Stock 3430 15880 D Restricted Stock Units 2019-03-04 4 M 0 944 D Class A Common Stock 944 944 D Stock Options (Right to Buy) 115.17 2024-03-06 Class A Common Stock 25131 25131 D Restricted Stock Units 2019-03-06 4 M 0 860 D Class A Common Stock 860 1720 D Stock Options (Right to Buy) 156.50 2025-03-06 Class A Common Stock 27037 27037 D Restricted Stock Units 2019-03-06 4 M 0 704 D Class A Common Stock 704 2114 D Stock Options (Right to Buy) 182.30 2019-03-06 4 A 0 29796 0.00 A 2026-03-06 Class A Common Stock 29796 29796 D Restricted Stock Units 2019-03-06 4 A 0 2771 0.00 A Class A Common Stock 2771 2771 D On March 4, 2019, 944 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. Shares withheld for payment of tax liability. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $183.00 to $183.06 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. On March 5, 2019, 753 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2019, 860 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2019, 704 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $183.00 to $183.03 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: 7,517 vest on each of the first through third anniversaries of the grant date and 7,518 vest on the fourth anniversary of the grant date (March 5, 2015). 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: 752 vest on each of the first through third anniversaries of the grant date and 753 vest on the fourth anniversary of the grant date (March 5, 2015). These options vest in accordance with the following schedule: 9,655 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: 943 vest on the first anniversary of the grant date and 944 vest on each of the second through fourth anniversaries of the grant date (March 4, 2016). These options vest in accordance with the following schedule: 8,377 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: 859 vest on the first anniversary of the grant date and 860 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017). These options vest in accordance with the following schedule: 6,759 vest on each of the first through third anniversaries of the grant date and 6,760 vest on the fourth anniversary of the grant date (March 6, 2018). These restricted stock units vest in accordance with the following schedule: 704 vest on each of the first and the third anniversaries of the grant date and 705 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018). These options vest in accordance with the following schedule: 7,449 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019). These restricted stock units vest in accordance with the following schedule: 692 vest on first anniversary of the grant date and 693 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019). /s/ Thomas P. Hunt, Attorney-in-Fact 2019-03-06