Sec Form 4 Filing - Cavanagh Brendan Thomas @ SBA COMMUNICATIONS CORP - 2018-02-27

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Cavanagh Brendan Thomas 2. Issuer Name and Ticker or Trading Symbol SBA COMMUNICATIONS CORP [ SBAC] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Executive Vice President & CFO (Last) (First) (Middle) C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 02/27/2018 (Street) BOCA RATON, FL33487 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Class A Common Stock 02/27/2018 M 27,221 A $ 42.15 60,576 D Class A Common Stock 02/27/2018 F 13,874 ( 1 ) D $ 172.73 46,702 D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares Stock Options (Right to Buy) $ 42.15 02/27/2018 M 27,221 ( 2 ) 03/04/2018 Class A Common Stock 27,221 $ 0 0 D Stock Options (Right to Buy) $ 47.52 ( 2 ) 03/06/2019 Class A Common Stock 28,999 28,999 D Stock Options (Right to Buy) $ 72.99 ( 2 ) 03/06/2020 Class A Common Stock 47,199 47,199 D Stock Options (Right to Buy) $ 95.53 ( 3 ) 03/06/2021 Class A Common Stock 60,588 60,588 D Restricted Stock Units ( 4 ) ( 5 ) ( 5 ) Class A Common Stock 1,537 1,537 D Stock Options (Right to Buy) $ 124.59 ( 6 ) 03/05/2022 Class A Common Stock 54,411 54,411 D Restricted Stock Units ( 4 ) ( 7 ) ( 7 ) Class A Common Stock 2,723 2,723 D Stock Options (Right to Buy) $ 96.58 ( 8 ) 03/04/2023 Class A Common Stock 68,258 68,258 D Restricted Stock Units ( 4 ) ( 9 ) ( 9 ) Class A Common Stock 5,004 5,004 D Stock Options (Right to Buy) $ 115.17 ( 10 ) 03/06/2024 Class A Common 60,163 60,163 D Restricted Stock Units ( 4 ) ( 11 ) ( 11 ) Class A Common Stock 6,175 6,175 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Cavanagh Brendan Thomas C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON, FL33487 Executive Vice President & CFO Signatures /s/ Brendan T. Cavanagh 03/01/2018 Signature of Reporting Person Date

Explanation of Responses:

( 1 ) Shares withheld to cover the exercise price and for payment of tax liability. ( 2 )These options are immediately exercisable. ( 3 )These options vest in accordance with the following schedule: 15,147 vest on each of the first through fourth anniversaries of the grant date (March 6, 2014). ( 4 )Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. ( 5 )These restricted stock units vest in accordance with the following schedule: 1,536 vest on each of the first and third anniversary of the grant date and 1,537 vest on each of the second and fourth anniversary of the grant date (March 6, 2014). ( 6 )These options vest in accordance with the following schedule: 13,602 vest on the first anniversary of the grant date and 13,603 vest on each of the second through fourth anniversaries of the grant date (March 5, 2015). ( 7 )These restricted stock units vest in accordance with the following schedule: 1,361 vest on each of the first and third anniversary of the grant date and 1,362 vest on each of the second and fourth anniversary of the grant date (March 5, 2015). ( 8 )These options vest in accordance with the following schedule: 17,064 vest on each of the first and third anniversary of the grant date and 17,065 vest on each of the second and fourth anniversary of the grant date (March 4, 2016). ( 9 )These restricted stock units vest in accordance with the following schedule: 1,668 vest on each of the first through fourth anniversaries of the grant date (March 4, 2016). ( 10 )These options vest in accordance with the following schedule: 15,040 vest on the first anniversary of the grant date and 15,041 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017). ( 11 )These restricted stock units vest in accordance with the following schedule: 1,543 vest on the first anniversary of the grant date and 1,544 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

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