X0306 4 2020-03-04 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 2020-03-04 4 M 0 1976 A 165052 D Class A Common Stock 2020-03-04 4 F 0 732 286.66 D 164320 D Class A Common Stock 2020-03-06 4 M 0 802 124.59 A 165122 D Class A Common Stock 2020-03-06 4 M 0 548 182.30 A 165670 D Class A Common Stock 2020-03-06 4 M 0 1759 A 167429 D Class A Common Stock 2020-03-06 4 M 0 1409 A 168838 D Class A Common Stock 2020-03-06 4 M 0 1366 A 170204 D Class A Common Stock 2020-03-06 4 F 0 2345 300.32 D 167859 D Stock Options (Right to Buy) 124.59 2020-03-06 4 M 0 802 0.00 D 2022-03-05 Class A Common Stock 802 63633 D Stock Options (Right to Buy) 96.58 2023-03-04 Class A Common Stock 80832 80832 D Restricted Stock Units 2020-03-04 4 M 0 1976 D Class A Common Stock 1976 0 D Stock Options (Right to Buy) 115.17 2024-03-06 Class A Common Stock 68540 68540 D Restricted Stock Units 2020-03-06 4 M 0 1759 D Class A Common Stock 1759 1759 D Stock Options (Right to Buy) 156.50 2025-03-06 Class A Common Stock 54074 54074 D Restricted Stock Units 2020-03-06 4 M 0 1409 D Class A Common Stock 1409 2818 D Stock Options (Right to Buy) 182.30 2020-03-06 4 M 0 548 0.00 D 2026-03-06 Class A Common Stock 548 58233 D Restricted Stock Units 2020-03-06 4 M 0 1366 D Class A Common Stock 1366 4101 D Restricted Stock Units Class A Common Stock 3856 3856 D Performance Restricted Stock Units Class A Common Stock 3856 3856 D Performance Restricted Stock Units Class A Common Stock 3856 3856 D On March 4, 2020, 1,976 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. On March 6, 2020, 1,759 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2020, 1,409 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. On March 6, 2020, 1,366 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock. Represents shares used to pay option exercise price or withheld for payment of tax liability. 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: 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). These options vest in accordance with the following schedule: 13,518 vest on each of the first and the third anniversaries of the grant date, and 13,519 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018). These restricted stock units vest in accordance with the following schedule: 1,409 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018). These options vest in accordance with the following schedule: 14,695 vest on each of the first through third anniversaries of the grant date and 14,696 vest on the fourth anniversary of the grant date (March 6, 2019). These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019). These restricted stock units vest in accordance with the following schedule: 1,285 vest on the first and second anniversaries of the grant date and 1,286 vest on the third anniversary of the grant date (February 25, 2020). Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock. These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition. These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, which is the third anniversary of the grant date. The number of shares of Class A Common Stock that will be earned at the end of the three-year performance period is subject to increase or decrease based on the results of the performance condition. /s/ Thomas P. Hunt 2020-03-06