<SEC-DOCUMENT>0001181431-13-049786.txt : 20130918
<SEC-HEADER>0001181431-13-049786.hdr.sgml : 20130918
<ACCEPTANCE-DATETIME>20130918183223
ACCESSION NUMBER:		0001181431-13-049786
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20130916
FILED AS OF DATE:		20130918
DATE AS OF CHANGE:		20130918

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SBA COMMUNICATIONS CORP
		CENTRAL INDEX KEY:			0001034054
		STANDARD INDUSTRIAL CLASSIFICATION:	COMMUNICATION SERVICES, NEC [4899]
		IRS NUMBER:				650716501
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		5900 BROKEN SOUND PARKWAY
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
		BUSINESS PHONE:		5619957670

	MAIL ADDRESS:	
		STREET 1:		5900 BROKEN SOUND PARKWAY
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Cavanagh Brendan Thomas
		CENTRAL INDEX KEY:			0001293293

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-30110
		FILM NUMBER:		131104420

	MAIL ADDRESS:	
		STREET 1:		5900 BROKEN SOUND PARKWAY, NW
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487-2797
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>rrd390620.xml
<DESCRIPTION>FORM 4 - OPTION EXERCISE AND SALE
<TEXT>
<XML>
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<ownershipDocument>

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    <documentType>4</documentType>

    <periodOfReport>2013-09-16</periodOfReport>

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    <issuer>
        <issuerCik>0001034054</issuerCik>
        <issuerName>SBA COMMUNICATIONS CORP</issuerName>
        <issuerTradingSymbol>SBAC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001293293</rptOwnerCik>
            <rptOwnerName>Cavanagh Brendan Thomas</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O SBA COMMUNICATIONS CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>5900 BROKEN SOUND PARKWAY NW</rptOwnerStreet2>
            <rptOwnerCity>BOCA RATON</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33487</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>Senior Vice President &amp; CFO</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
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            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2013-09-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>40000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>32.39</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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            <transactionDate>
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                <transactionCode>M</transactionCode>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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        <nonDerivativeTransaction>
            <securityTitle>
                <value>Class A Common Stock</value>
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            <transactionDate>
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            <transactionCoding>
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                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
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                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <derivativeTable>
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                <value>Stock Options (Right to Buy)</value>
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            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-09-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
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            <transactionAmounts>
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                    <value>40000</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2015-02-28</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>40000</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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                    <value>D</value>
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        <derivativeTransaction>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>19.68</value>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2013-09-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>61628</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F3"/>
            </exerciseDate>
            <expirationDate>
                <value>2016-03-05</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>61628</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>0</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeTransaction>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>35.71</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F4"/>
            </exerciseDate>
            <expirationDate>
                <value>2017-03-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>28409</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>28409</value>
                </sharesOwnedFollowingTransaction>
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                    <value>D</value>
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                <footnoteId id="F6"/>
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            <expirationDate>
                <footnoteId id="F6"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1621</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1621</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>42.15</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F7"/>
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            <expirationDate>
                <value>2018-03-04</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>29593</value>
                </underlyingSecurityShares>
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                <sharesOwnedFollowingTransaction>
                    <value>29593</value>
                </sharesOwnedFollowingTransaction>
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            <exerciseDate>
                <footnoteId id="F8"/>
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            <expirationDate>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3405</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3405</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
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            <conversionOrExercisePrice>
                <value>47.52</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <value>2019-03-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>31103</value>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>31103</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
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            <securityTitle>
                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
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            <exerciseDate>
                <footnoteId id="F10"/>
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            <expirationDate>
                <footnoteId id="F10"/>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>5159</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>5159</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>72.99</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F11"/>
            </exerciseDate>
            <expirationDate>
                <value>2020-03-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>47199</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>47199</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F12"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F12"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6180</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>6180</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Includes 330 shares acquired on May 31, 2013 pursuant to the SBA Communications Corporation 2008 Employee Stock Purchase Plan.</footnote>
        <footnote id="F2">Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $76.79 to $77.16 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.</footnote>
        <footnote id="F3">These options are immediately exercisable.</footnote>
        <footnote id="F4">These options vest in accordance with the following schedule: 7,102 vest on each of the first through the third anniversaries of the grant date and 7,103 vest on the fourth anniversary of the grant date (March 4, 2010).</footnote>
        <footnote id="F5">Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F6">These restricted stock units vest in accordance with the following schedule: 1,621 vest on each of the first through fourth anniversaries of the grant date (March 4, 2010).</footnote>
        <footnote id="F7">These options vest in accordance with the following schedule: 7,398 vest on each of the first through third anniversaries of the grant date and 7,399 vest on the fourth anniversary of the grant date (March 4, 2011).</footnote>
        <footnote id="F8">These restricted stock units vest in accordance with the following schedule: 1,702 vest on each of the first and third anniversary of the grant date and 1,703 vest on each of the second and fourth anniversary of the grant date (March 4, 2011).</footnote>
        <footnote id="F9">These options vest in accordance with the following schedule: 7,775 vest on the first anniversary of the grant date and 7,776 vest on each of the second through fourth anniversaries of the grant date (March 6, 2012).</footnote>
        <footnote id="F10">These restricted stock units vest in accordance with the following schedule: 1,719 vest on each of the first and third anniversary of the grant date and 1,720 vest on each of the second and fourth anniversary of the grant date (March 6, 2012).</footnote>
        <footnote id="F11">These options vest in accordance with the following schedule: 11,799 vest on the first anniversary of the grant date and 11,800 vest on each of the second through fourth anniversaries of the grant date (March 6, 2013).</footnote>
        <footnote id="F12">These restricted stock units vest in accordance with the following schedule: 1,545 vest on each of the first through fourth anniversaries of the grant date (March 6, 2013).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua M. Koenig, Attorney-in-Fact</signatureName>
        <signatureDate>2013-09-18</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
