<SEC-DOCUMENT>0001415889-25-012026.txt : 20250505
<SEC-HEADER>0001415889-25-012026.hdr.sgml : 20250505
<ACCEPTANCE-DATETIME>20250505183018
ACCESSION NUMBER:		0001415889-25-012026
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250501
FILED AS OF DATE:		20250505
DATE AS OF CHANGE:		20250505

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			STOOPS JEFFREY
		CENTRAL INDEX KEY:			0001106860
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-16853
		FILM NUMBER:		25914560

	MAIL ADDRESS:	
		STREET 1:		SBA COMMUNICATIONS CORP
		STREET 2:		ONE TOWN CENTER ROAD THIRD FLOOR
		CITY:			BOCA RATON
		STATE:			FL
		ZIP:			33486

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
		EIN:				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>form4-05052025_060515.xml
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    <periodOfReport>2025-05-01</periodOfReport>

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

    <reportingOwner>
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            <rptOwnerCik>0001106860</rptOwnerCik>
            <rptOwnerName>STOOPS JEFFREY</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>true</isDirector>
            <isOfficer>false</isOfficer>
            <isTenPercentOwner>false</isTenPercentOwner>
            <isOther>true</isOther>
            <officerTitle></officerTitle>
            <otherText>CHAIRMAN</otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>0</aff10b5One>

    <nonDerivativeTable>
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            <transactionDate>
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            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>By Limited Partnership</value>
                    <footnoteId id="F3"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
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    <derivativeTable>
        <derivativeHolding>
            <securityTitle>
                <value>Stock Options (Right to Buy)</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <value>182.30</value>
            </conversionOrExercisePrice>
            <exerciseDate>
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            <expirationDate>
                <value>2026-03-06</value>
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            <underlyingSecurity>
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                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>149446</value>
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            </underlyingSecurity>
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                    <value>149446</value>
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        <derivativeHolding>
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                    <value>3468</value>
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                    <value>3468</value>
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        <derivativeHolding>
            <securityTitle>
                <value>Performance Restricted Stock Units</value>
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            <exerciseDate>
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            <expirationDate>
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            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>10404</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10404</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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                    <value></value>
                </natureOfOwnership>
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        </derivativeHolding>
        <derivativeHolding>
            <securityTitle>
                <value>Performance Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
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            <exerciseDate>
                <footnoteId id="F9"/>
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                    <value>Class A Common Stock</value>
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                <underlyingSecurityShares>
                    <value>10404</value>
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            </underlyingSecurity>
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                <sharesOwnedFollowingTransaction>
                    <value>10404</value>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeHolding>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
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                <value>2025-05-01</value>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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                <transactionShares>
                    <value>302</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F1"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F10"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F10"/>
            </expirationDate>
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                <underlyingSecurityTitle>
                    <value>Class A Common Stock</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>302</value>
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                <sharesOwnedFollowingTransaction>
                    <value>604</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
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        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">On May 1, 2025, 302 of the Reporting Person's restricted stock units were settled for an equal number of Class A Common Stock.</footnote>
        <footnote id="F2">Shares withheld for payment of tax liability.</footnote>
        <footnote id="F3">These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership (&quot;CRLP&quot;). The Reporting Person and his spouse control the general partner of CRLP. The Reporting Person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest therein.</footnote>
        <footnote id="F4">These stock options are fully vested and exercisable.</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: 3,468 vest on the first through third anniversaries of the grant date (March 6, 2023).</footnote>
        <footnote id="F7">Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.</footnote>
        <footnote id="F8">These performance restricted stock units have a three-year performance period and to the extent earned vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase 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 vest on March 6, 2026. The number of shares of Class A Common Stock that will be earned is subject to increase or decrease based on the results of the performance condition.</footnote>
        <footnote id="F10">These restricted stock units vest in accordance with the following schedule: 302 vested on May 1, 2025; 302 vest on May 1, 2026; and 302 vest on May 1, 2027.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Joshua Koenig, Attorney-in-Fact</signatureName>
        <signatureDate>2025-05-05</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
