XNAS:SBAC SBA Communications Corp Insider Activity 4 Filing - 5/4/2012

Effective Date 5/4/2012

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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 OF SECURITIES

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
BERNSTEIN STEVEN E
  2. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP [SBAC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Chairman
(Last)
(First)
(Middle)
C/O SBA COMMUNICATIONS CORPORATION, 5900 BROKEN SOUND PARKWAY N.W.
3. Date of Earliest Transaction (Month/Day/Year)
05/04/2012
(Street)

BOCA RATON, FL 33487
4. If Amendment, Date Original Filed (Month/Day/Year)
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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 05/04/2012   M   615 A (1) 1,237 D  
Class A Common Stock 05/06/2012   M   622 A (2) 1,859 D  
Class A Common Stock               240,142 I See footnote(3)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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) $14.8               (4) 07/22/2015 Class A Common Stock 6,667   6,667 D  
Stock Options (Right to Buy) $26.36               (4) 05/05/2016 Class A Common Stock 10,000   10,000 D  
Stock Options (Right to Buy) $30.07               (4) 05/17/2014 Class A Common Stock 10,000   10,000 D  
Stock Options (Right to Buy) $34.49               (4) 05/06/2015 Class A Common Stock 9,514   9,514 D  
Stock Options (Right to Buy) $24.38               (4) 05/07/2016 Class A Common Stock 9,374   9,374 D  
Stock Options (Right to Buy) $32.81               (5) 05/06/2017 Class A Common Stock 2,042   2,042 D  
Restricted Stock Units (6) 05/06/2012   M     622   (7)   (7) Class A Common Stock 622 (2) 622 D  
Stock Options (Right to Buy) $37.76               (8) 05/04/2018 Class A Common Stock 2,015   2,015 D  
Restricted Stock Units (6) 05/04/2012   M     615   (9)   (9) Class A Common Stock 615 (1) 1,230 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
BERNSTEIN STEVEN E
C/O SBA COMMUNICATIONS CORPORATION
5900 BROKEN SOUND PARKWAY N.W.
BOCA RATON, FL 33487
  X     Chairman

Signatures

 /s/ Thomas P. Hunt, Attorney-in-Fact   05/08/2012
** Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) On May 4, 2012, 615 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
(2) On May 6, 2012, 622 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
(3) These shares are held by Bernstein Limited Partnership II, an entity controlled, in part, by the Reporting Person. The Reporting Person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.
(4) These options are immediately exercisable.
(5) These options vest in accordance with the following schedule: 680 vest on the earlier of May 6, 2011 or the day immediately prior to the 2011 annual meeting of shareholders; 681 vest on the earlier of May 6, 2012 or the day immediately prior to the 2012 annual meeting of shareholders; and 681 vest on the earlier of May 6, 2013 or the day immediately prior to the 2013 annual meeting of shareholders.
(6) Each restricted stock unit represents a contingent right to receive one share of Class A common stock.
(7) These restricted stock units vest in accordance with the following schedule: 622 vest on the earlier of May 6, 2011 or the day immediately prior to the 2011 annual meeting of shareholders; 622 vest on the earlier of May 6, 2012 or the day immediately prior to the 2012 annual meeting of shareholders; and 622 vest on the earlier of May 6, 2013 or the day immediately prior to the 2013 annual meeting of shareholders.
(8) These options vest in accordance with the following schedule: 672 vest on the earlier of May 4, 2012 or the day immediately prior to the 2012 annual meeting of shareholders; 671 vest on the earlier of May 4, 2013 or the day immediately prior to the 2013 annual meeting of shareholders; and 672 vest on the earlier of May 4, 2014 or the day immediately prior to the 2014 annual meeting of shareholders.
(9) These restricted stock units vest in accordance with the following schedule: 615 vest on the earlier of May 4, 2012 or the day immediately prior to the 2012 annual meeting of shareholders; 615 vest on the earlier of May 4, 2013 or the day immediately prior to the 2013 annual meeting of shareholders; and 615 vest on the earlier of May 4, 2014 or the day immediately prior to the 2014 annual meeting of shareholders.

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XNAS:SBAC SBA Communications Corp Insider Activity 4 Filling

SBA Communications Corp XNAS:SBAC Stock - Get Insider Activity SEC Filing of SBA Communications Corp XNAS:SBAC stocks, including company profile, shares outstanding, strategy, business segments, operations, officers, consolidated financial statements, financial notes and ownership information.

XNAS:SBAC SBA Communications Corp Insider Activity 4 Filing - 5/4/2012
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