<SEC-DOCUMENT>0001415889-24-020938.txt : 20240807
<SEC-HEADER>0001415889-24-020938.hdr.sgml : 20240807
<ACCEPTANCE-DATETIME>20240807183218
ACCESSION NUMBER:		0001415889-24-020938
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20240801
FILED AS OF DATE:		20240807
DATE AS OF CHANGE:		20240807

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			DAY DONALD
		CENTRAL INDEX KEY:			0002031697
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16853
		FILM NUMBER:		241185405

	MAIL ADDRESS:	
		STREET 1:		C/O SBA COMMUNICATIONS CORPORATION
		STREET 2:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SBA COMMUNICATIONS CORP
		CENTRAL INDEX KEY:			0001034054
		STANDARD INDUSTRIAL CLASSIFICATION:	REAL ESTATE INVESTMENT TRUSTS [6798]
		ORGANIZATION NAME:           	05 Real Estate & Construction
		IRS NUMBER:				650716501
		STATE OF INCORPORATION:			FL
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
		BUSINESS PHONE:		5612269345

	MAIL ADDRESS:	
		STREET 1:		8051 CONGRESS AVENUE
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33487
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4-08072024_100813.xml
<TEXT>
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    <periodOfReport>2024-08-01</periodOfReport>

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

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            <rptOwnerName>DAY DONALD</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>C/O SBA COMMUNICATIONS CORPORATION</rptOwnerStreet1>
            <rptOwnerStreet2>8051 CONGRESS AVENUE</rptOwnerStreet2>
            <rptOwnerCity>BOCA RATON</rptOwnerCity>
            <rptOwnerState>FL</rptOwnerState>
            <rptOwnerZipCode>33487</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>false</isDirector>
            <isOfficer>true</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>false</isOther>
            <officerTitle>EVP - SITE LEASING</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

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            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
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                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
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    <footnotes>
        <footnote id="F1">These stock options are fully vested and exercisable.</footnote>
        <footnote id="F2">Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F3">These restricted stock units vest in accordance with the following schedule: 232 vested on the first anniversary of the grant date and 233 vested on the second anniversary and 233 vests on the third anniversary of the grant date (March 4, 2022).</footnote>
        <footnote id="F4">Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F5">These performance restricted stock units have a three-year performance period and to the extent earned will vest on March 4, 2025, 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 (up to 200%) or decrease based on the results of the performance conditions.</footnote>
        <footnote id="F6">These performance restricted stock units have a three-year performance period and to the extent earned will vest on March 4, 2025, 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 (up to 200%) or decrease based on the results of the performance conditions.</footnote>
        <footnote id="F7">These restricted stock units vest in accordance with the following schedule: 269 vested on the first anniversary of the grant date and 270 vest on the second and third anniversaries of the grant date (March 6, 2023).</footnote>
        <footnote id="F8">These performance restricted stock units have a three-year performance period and to the extent earned will vest on March 6, 2026, 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 (up to 200%) or decrease based on the results of the performance conditions.</footnote>
        <footnote id="F9">These performance restricted stock units have a three-year performance period and to the extent earned will vest on March 6, 2026, 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 (up to 200%) or decrease based on the results of the performance conditions.</footnote>
        <footnote id="F10">These restricted stock units vest in accordance with the following schedule: 555 vest on the first through third anniversaries of the grant date (March 6, 2024).</footnote>
        <footnote id="F11">These performance restricted stock units will be earned based upon the Issuer's performance on each of three different financial metrics during the three-year performance period. Once earned, the performance restricted stock units will vest on March 6, 2027. 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 decrease or increase (up to 200%) based on the results of the performance conditions.</footnote>
        <footnote id="F12">These restricted stock units vest in accordance with the following schedule: 456 vest on the first anniversary of the grant date and 457 vest on the second and third anniversaries of the grant date (August 1, 2024).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua Koenig, Attorney-in-Fact</signatureName>
        <signatureDate>2024-08-07</signatureDate>
    </ownerSignature>
</ownershipDocument>
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</DOCUMENT>
</SEC-DOCUMENT>
