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 * Patel Dipan D 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)
EVP Tech., Strat. & New Bus.
(Last)         (First)         (Middle)
C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE
3. Date of Earliest Transaction (MM/DD/YYYY)
9/10/2021
(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  9/10/2021    M    1096  A $182.30  2230.9932 (1) D   
Class A Common Stock  9/10/2021    F    556 (2) D $359.65  16743.9932  D   

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)  $182.30  9/10/2021    M        1096    (3) 3/6/2026  Class A Common Stock  1096  $0.00  19173  D   
Restricted Stock Units   (4)                  (5)  (5) Class A Common Stock  943    943  D   
Restricted Stock Units   (4)                  (6)  (6) Class A Common Stock  943    943  D   
Performance Restricted Stock Units   (7)                  (8)  (8) Class A Common Stock  1414    1414  D   
Performance Restricted Stock Units   (7)                  (9)  (9) Class A Common Stock  1414    1414  D   
Restricted Stock Units   (4)                  (10)  (10) Class A Common Stock  1499    1499  D   
Performance Restricted Stock Units   (7)                  (11)  (11) Class A Common Stock  1499    1499  D   
Performance Restricted Stock Units   (7)                  (12)  (12) Class A Common Stock  1499    1499  D   

Explanation of Responses:
(1)  Includes 4.612 shares acquired through a dividend reinvestment plan.
(2)  Represents shares used to pay option exercise price or withheld for payment of tax liability.
(3)  These options vest in accordance with the following schedule: 5,067 vest on each of the first through third anniversaries of the grant date and 5,068 vest on the fourth anniversary of the grant date (March 6, 2019).
(4)  Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(5)  These restricted stock units vest in accordance with the following schedule: 471 vest on each of the first through third anniversaries of the grant date and 472 vest on the fourth anniversary of the grant date (March 6, 2019).
(6)  These restricted stock units vest in accordance with the following schedule: 471 vest on the first and second anniversaries of the grant date and 472 vest on the third anniversary of the grant date (February 25, 2020).
(7)  Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(8)  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.
(9)  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.
(10)  These restricted stock units vest in accordance with the following schedule: 499 vest on the first anniversary of the grant date and 500 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
(11)  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.
(12)  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
Patel Dipan D
C/O SBA COMMUNICATIONS CORPORATION
8051 CONGRESS AVENUE
BOCA RATON, FL 33487


EVP Tech., Strat. & New Bus.

Signatures
/s/ Thomas P. Hunt, Attorney-in-Fact 9/14/2021
**Signature of Reporting Person Date
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