X0306 4 2020-03-04 0 0001034054 SBA COMMUNICATIONS CORP SBAC 0001284848 SILBERSTEIN JASON V C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON FL 33487 0 1 0 0 EVP - Site Leasing Class A Common Stock 2020-03-04 4 M 0 1440 A 10225 D Class A Common Stock 2020-03-04 4 F 0 351 286.66 D 9874 D Class A Common Stock 2020-03-04 4 M 0 57883 96.58 A 67757 D Class A Common Stock 2020-03-04 4 S 0 57883 292.00 D 9874 D Class A Common Stock 2020-03-06 4 M 0 1290 A 11164 D Class A Common Stock 2020-03-06 4 M 0 1057 A 12221 D Class A Common Stock 2020-03-06 4 M 0 1036 A 13257 D Class A Common Stock 2020-03-06 4 F 0 1332 300.32 D 11925 D Stock Options (Right to Buy) 96.58 2020-03-04 4 M 0 57883 0.00 D 2023-03-04 Class A Common Stock 57883 1035 D Restricted Stock Units 2020-03-04 4 M 0 1440 D Class A Common Stock 1440 0 D Stock Options (Right to Buy) 115.17 2024-03-06 Class A Common Stock 50262 50262 D Restricted Stock Units 2020-03-06 4 M 0 1290 D Class A Common Stock 1290 1290 D Stock Options (Right to Buy) 156.50 2025-03-06 Class A Common Stock 40556 40556 D Restricted Stock Units 2020-03-06 4 M 0 1057 D Class A Common Stock 1057 2114 D Stock Options (Right to Buy) 182.30 2026-03-06 Class A Common Stock 44592 44592 D Restricted Stock Units 2020-03-06 4 M 0 1036 D Class A Common Stock 1036 3111 D Restricted Stock Units Class A Common Stock 2931 2931 D Performance Restricted Stock Units Class A Common Stock 2931 2931 D Performance Restricted Stock Units Class A Common Stock 2931 2931 D On March 4, 2020, 1,440 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, 1,290 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, 1,057 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, 1,036 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: 1,439 vest on the first anniversary of the grant date and 1,440 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: 12,565 vest on each of the first and the second anniversary of the grant date and 12,566 vest on each of the third and the fourth anniversary of the grant date (March 6, 2017). These restricted stock units vest in accordance with the following schedule: 1,289 vest on the first anniversary of the grant date and 1,290 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: 10,139 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018). These restricted stock units vest in accordance with the following schedule: 1,056 vest on the first anniversary of the grant date and 1,057 vest on each of the second through fourth anniversaries of the grant date (March 6, 2018). These options vest in accordance with the following schedule: 11,148 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: 1,036 vest on first anniversary of the grant date and 1,037 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: 977 vest on each of the first through third anniversaries 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, Attorney-in-Fact 2020-03-06