X0303 4 2010-03-04 0 0001034054 SBA COMMUNICATIONS CORP SBAC 0001444362 Lazarus Brian D C/O SBA COMMUNICATIONS CORPORATION 5900 BROKEN SOUND PARKWAY, NW BOCA RATON FL 33487 0 1 0 0 VP & Chief Accounting Officer Class A Common Stock 2010-03-08 4 M 0 7303 19.68 A 7303 D Class A Common Stock 2010-03-08 4 S 0 7303 35.81 D 0 D Stock Options (Right to Buy) 26.2 2016-10-09 Class A Common Stock 3750 3750 D Stock Options (Right to Buy) 28.54 2014-02-26 Class A Common Stock 13500 13500 D Stock Options (Right to Buy) 32.39 2015-02-28 Class A Common Stock 16000 16000 D Stock Options (Right to Buy) 31.09 2015-09-12 Class A Common Stock 10000 10000 D Stock Options (Right to Buy) 19.68 2010-03-08 4 M 0 7303 0 D 2016-03-05 Class A Common Stock 7303 21910 D Stock Options (Right to Buy) 35.71 2010-03-04 4 A 0 12626 0 A 2017-03-04 Class A Common Stock 12626 12626 D Restricted Stock Units 2010-03-04 4 A 0 2881 0 A Class A Common Stock 2881 2881 D Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $35.80 to $35.83 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. These options vest in accordance with the following schedule: 1,250 vest on each of the first through fourth anniversaries of the grant date (October 9, 2006). These options vest in accordance with the following schedule: 4,500 vest on each of the first through fourth anniversaries of the grant date (February 26, 2007). These options vest in accordance with the following schedule: 4,000 vest on each of the first through fourth anniversaries of the grant date (February 28, 2008). These options vest in accordance with the following schedule: 2,500 vest on each of the first through fourth anniversaries of the grant date (September 12, 2008). These options vest in accordance with the following schedule: 7,303 vest on each of the first through the third anniversaries of the grant date and 7,304 vest on the fourth anniversary of the grant date (March 5, 2009). These options vest in accordance with the following schedule: 3,156 vest on each of the first and the third anniversary of the grant date and 3,157 vest on each of the second and the fourth anniversary of the grant date (March 4, 2010). Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock. These restricted stock units vest in accordance with the following schedule: 720 vest on each of the first through the third anniversaries of the grant date and 721 vest on the fourth anniversary of the grant date (March 4, 2010). /s/ Brian D. Lazarus 2010-03-08