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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      
1. Name and Address of Reporting Person * Cavanagh Brendan Thomas 2. Issuer Name and Ticker or Trading Symbol SBA COMMUNICATIONS CORP [ SBAC ] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable)_____ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Executive Vice President & CFO
(Last)         (First)         (Middle)
C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE
3. Date of Earliest Transaction (MM/DD/YYYY)
9/2/2021
(Street)
BOCA RATON, FL 33487
(City)       (State)       (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)
 
6. Individual or Joint/Group Filing (Check Applicable Line) _X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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  9/2/2021    M    60163  A $115.17  91170  D   
Class A Common Stock  9/2/2021    S    21451  D $364.56 (1) 69719  D   
Class A Common Stock  9/2/2021    S    16592  D $365.53 (2) 53127  D   
Class A Common Stock  9/2/2021    S    22120  D $366.42 (3) 31007  D   
Class A Common Stock                 19049  I  By LLC (4)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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)  $115.17  9/2/2021    M        60163    (5) 3/6/2024  Class A Common  60163  $0.00  0  D   
Stock Options (Right to Buy)  $156.50                   (6) 3/6/2025  Class A Common Stock  50212    50212  D   
Restricted Stock Units   (7)                  (8)  (8) Class A Common Stock  1309    1309  D   
Stock Options (Right to Buy)  $182.30                   (9) 3/6/2026  Class A Common Stock  55741    55741  D   
Restricted Stock Units   (7)                  (10)  (10) Class A Common Stock  2592    2592  D   
Restricted Stock Units   (7)                  (11)  (11) Class A Common Stock  2442    2442  D   
Performance Restricted Stock Units   (12)                  (13)  (13) Class A Common Stock  3663    3663  D   
Performance Restricted Stock Units   (12)                  (14)  (14) Class A Common Stock  3663    3663  D   
Restricted Stock Units   (7)                  (15)  (15) Class A Common Stock  3872    3872  D   
Performance Restricted Stock Units   (12)                  (16)  (16) Class A Common Stock  3872    3872  D   
Performance Restricted Stock Units   (12)                  (17)  (17) Class A Common Stock  3872    3872  D   

Explanation of Responses:
(1)  Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $364.02 to $365.01 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.
(2)  Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $365.02 to $365.99 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.
(3)  Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transaction ranged from $366.03 to $366.65 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.
(4)  These shares are owned by Cavanagh Investments, LLC. The Reporting Person holds all voting and dispositive power for these shares. The Reporting Person disclaims beneficial ownership of the shares owned by Cavanagh Investments, LLC, except to the extent of his pecuniary interest therein.
(5)  These options are immediately exercisable.
(6)  These options vest in accordance with the following schedule: 12,553 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).
(7)  Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(8)  These restricted stock units vest in accordance with the following schedule: 1,308 vest on each of the first and the third anniversaries of the grant date, and 1,309 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).
(9)  These options vest in accordance with the following schedule: 13,935 vest on each of the first through third anniversaries of the grant date and 13,936 vest on the fourth anniversary of the grant date (March 6, 2019).
(10)  These restricted stock units vest in accordance with the following schedule: 1,296 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).
(11)  These restricted stock units vest in accordance with the following schedule: 1,221 vest on each of the first through third anniversaries of the grant date (February 25, 2020).
(12)  Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(13)  These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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 or decrease based on the results of the performance condition.
(14)  These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on February 25, 2023, 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 or decrease based on the results of the performance condition.
(15)  These restricted stock units vest in accordance with the following schedule: 1,290 vest on the first anniversary of the grant date and 1,291 vests on each of the second and third anniversaries of the grant date (March 4, 2021).
(16)  These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, 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 or decrease based on the results of the performance condition.
(17)  These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2024, 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 or decrease based on the results of the performance condition.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Cavanagh Brendan Thomas
C/O SBA COMMUNICATIONS CORPORATION
8051 CONGRESS AVENUE
BOCA RATON, FL 33487


Executive Vice President & CFO

Signatures
/s/ Thomas P. Hunt, Attorney-in-Fact 9/3/2021
**Signature of Reporting Person Date
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