<SEC-DOCUMENT>0001415889-25-001288.txt : 20250110
<SEC-HEADER>0001415889-25-001288.hdr.sgml : 20250110
<ACCEPTANCE-DATETIME>20250110170027
ACCESSION NUMBER:		0001415889-25-001288
CONFORMED SUBMISSION TYPE:	3
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250101
FILED AS OF DATE:		20250110
DATE AS OF CHANGE:		20250110

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			KREDI SAUL
		CENTRAL INDEX KEY:			0002047753
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16853
		FILM NUMBER:		25523780

	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>3
<SEQUENCE>1
<FILENAME>form3-01102025_100122.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0206</schemaVersion>

    <documentType>3</documentType>

    <periodOfReport>2025-01-01</periodOfReport>

    <noSecuritiesOwned>0</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0002047753</rptOwnerCik>
            <rptOwnerName>KREDI SAUL</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <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>VP &amp; Chief Accounting Officer</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Class A Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4761.33</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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                    <value></value>
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        </nonDerivativeHolding>
    </nonDerivativeTable>

    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>182.30</value>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F1"/>
            </exerciseDate>
            <expirationDate>
                <value>2026-03-06</value>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>6080</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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                    <value></value>
                </natureOfOwnership>
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        </derivativeHolding>
        <derivativeHolding>
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            <expirationDate>
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            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>130</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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                <natureOfOwnership>
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                </natureOfOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
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            <underlyingSecurity>
                <underlyingSecurityTitle>
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                <underlyingSecurityShares>
                    <value>388</value>
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            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F6"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>388</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
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                </natureOfOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F7"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>293</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F8"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F8"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>439</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F5"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F9"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F9"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>439</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F3"/>
            </conversionOrExercisePrice>
            <exerciseDate>
                <footnoteId id="F10"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F10"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1754</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">These options are fully vested and immediately exercisable.</footnote>
        <footnote id="F2">These restricted stock units vest on March 4, 2025.</footnote>
        <footnote id="F3">Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F4">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 period.</footnote>
        <footnote id="F5">Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</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 period.</footnote>
        <footnote id="F7">These restricted stock units vest in accordance with the following schedule: 146 vest on the first and second anniversaries of the grant date and 147 vest on the third anniversary 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 period.</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 period.</footnote>
        <footnote id="F10">These restricted stock units vest in accordance with the following schedule: 584 vest on the first anniversary of the grant date and 585 on the second through third anniversaries of the grant date (March 6, 2024).</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua Koenig, Attorney-in-Fact</signatureName>
        <signatureDate>2025-01-10</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-24
<SEQUENCE>2
<FILENAME>ex24-01102025_100122.htm
<TEXT>
<!DOCTYPE html PUBLIC "-//IETF//DTD HTML//EN">
<html><head><title>ex24-01102025_100122.htm</title></head><body style="margin-top:0;font-family:Times New Roman; font-size:10pt; color:#000000">
<p style="margin:0px"><br></p>
<p style="margin:0px" align="center"><b><u>POWER OF ATTORNEY</u></b></p>
<p style="margin:0px"><br></p>
<p style="margin:0px">Know all by these presents, that the undersigned hereby constitutes and appoints each of Joshua Koenig and Rafael Rosillo, signing singly, the undersigned's true and lawful attorney-in-fact to:</p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; font-size:12pt; float:left">(1)</p>
<p style="margin:0px; padding-left:72px; text-indent:-2px">execute for and on behalf of the undersigned, in any and all capacities, Form ID, including other documents necessary to obtain EDGAR codes and passwords enabling the undersigned to make electronic filings with the United States Securities and Exchange Commission (the "Commission"), Form 144 in accordance with Rule 144 under and Forms 3, 4, and 5 in accordance with Section 16(a) of the Securities Exchange Act of 1934 and the rules thereunder as well as a Schedule 13D or Schedule 13G and any amendments thereto (collectively, the "Required Filings");</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; font-size:12pt; float:left">(2)</p>
<p style="margin:0px; padding-left:72px; text-indent:-2px">do and perform any and all acts for and on behalf of the undersigned which may be necessary or desirable to complete and execute any such Required Filings, complete and execute any amendment or amendments thereto, and timely file such form with the Commission and any stock exchange or similar authority;</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; font-size:12pt; float:left">(3)</p>
<p style="margin:0px; padding-left:72px; text-indent:-2px">seek or obtain, as the undersigned's representative and on the undersigned's behalf, information regarding transactions in the securities of SBA Communications Corporation (the "Company") from any third party, including brokers, employee benefit plan administrators and trustees, and the undersigned hereby authorizes any such person to release any such information to such attorney-in-fact and approves and ratifies any such release of information; and</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; text-indent:48px; width:72px; font-size:12pt; float:left">(4)</p>
<p style="margin:0px; padding-left:72px; text-indent:-2px">take any other action of any type whatsoever in connection with the foregoing which, in the opinion of such attorney-in-fact, may be of benefit to, in the best interest of, or legally required by, the undersigned, it being understood that the documents executed by such attorney-in-fact on behalf of the undersigned pursuant to this Power of Attorney shall be in such form and shall contain such terms and conditions as such attorney-in-fact may approve in such attorney-in-fact's discretion.</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px">The undersigned hereby grants to each such attorney-in-fact full power and authority to do and perform any and every act and thing whatsoever requisite, necessary, or proper to be done in the exercise of any of the rights and powers herein granted, as fully to all intents and purposes as the undersigned might or could do if personally present, with full power of substitution or revocation, hereby ratifying and confirming all that such attorney-in-fact, or such</p>
<p style="margin:0px">attorney-in-fact's substitute or substitutes, shall lawfully do or cause to be done by virtue of this Power of Attorney and the rights and powers herein granted. &nbsp;The undersigned acknowledges that the foregoing attorneys-in-fact, in</p>
<p style="margin:0px">serving in such capacity at the request of the undersigned, are not assuming, nor is the Company assuming, any of the undersigned's responsibilities to comply with Section 16 of the Securities Exchange Act of 1934, as amended.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">This Power of Attorney shall remain in full force and effect until the undersigned is no longer required to file Form 144, Forms 3, 4, and 5 and Schedule 13D or Schedule 13G with respect to the undersigned's holdings of and transactions in securities issued by the Company, unless earlier revoked by the undersigned in a signed writing delivered to the foregoing attorneys-in-fact.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px">IN WITNESS WHEREOF, the undersigned has caused this Power of Attorney to be executed as of this 5th day of December, 2024.</p>
<p style="margin:0px"><br></p>
<p style="margin:0px"><br></p>
<p style="margin-top:0px; margin-bottom:-2px; width:366.4px; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p style="margin:0px; text-indent:-2px">/s/ Saul Kredi</p>
<p style="margin-top:0px; margin-bottom:-2px; width:366.4px; clear:left; float:left">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</p>
<p style="margin:0px; text-indent:-2px">Name: &nbsp;Saul Kredi</p>
<p style="margin:0px; clear:left"><br></p>
<p style="margin:0px"><br><br></p>
<p style="margin:0px"><br></p>
</body></html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
