Statement of Changes in Beneficial Ownership (4)

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 ^* BAGWELL KURT L	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; Pres. - International
(Last) (First) (Middle) C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE	3. Date of Earliest Transaction (MM/DD/YYYY) 3/6/2021
(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)
1.Title of Security (Instr. 3)	2. Trans. Date	2A. Deemed Execution Date, if any	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	3/6/2021		M		1759	A	⁽¹⁾	33710	D
Class A Common Stock	3/6/2021		M		1409	A	⁽²⁾	35119	D
Class A Common Stock	3/6/2021		M		1367	A	⁽³⁾	36486	D
Class A Common Stock	3/6/2021		F		1259 ⁽⁴⁾	D	$242.19	35227	D
Class A Common Stock	3/9/2021		S		4278	D	$246.09 ⁽⁵⁾	30949	D
Class A Common Stock								15530	I	By LLC ⁽⁶⁾
Class A Common Stock								26	I	By Trust ⁽⁷⁾

*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)
1. Title of Derivate Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Trans. Date	3A. Deemed Execution Date, if any	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)			11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to Buy)	$115.17							⁽⁸⁾	3/6/2024	Class A Common Stock	17135		17135	D
Restricted Stock Units	⁽⁹⁾	3/6/2021		M			1759	⁽¹⁰⁾	⁽¹⁰⁾	Class A Common Stock	1759	⁽¹⁾	0	D
Stock Options (Right to Buy)	$156.50							⁽¹¹⁾	3/6/2025	Class A Common Stock	27037		27037	D
Restricted Stock Units	⁽⁹⁾	3/6/2021		M			1409	⁽¹²⁾	⁽¹²⁾	Class A Common Stock	1409	⁽²⁾	1409	D
Stock Options (Right to Buy)	$182.30							⁽¹³⁾	3/6/2026	Class A Common Stock	44634		44634	D
Restricted Stock Units	⁽⁹⁾	3/6/2021		M			1367	⁽¹⁴⁾	⁽¹⁴⁾	Class A Common Stock	1367	⁽³⁾	2734	D
Restricted Stock Units	⁽⁹⁾							⁽¹⁵⁾	⁽¹⁵⁾	Class A Common Stock	2571		2571	D
Performance Restricted Stock Units	⁽¹⁶⁾							⁽¹⁷⁾	⁽¹⁷⁾	Class A Common Stock	3856		3856	D
Performance Restricted Stock Units	⁽¹⁶⁾							⁽¹⁸⁾	⁽¹⁸⁾	Class A Common Stock	3856		3856	D
Restricted Stock Units	⁽⁹⁾							⁽¹⁹⁾	⁽¹⁹⁾	Class A Common Stock	3872		3872	D
Performance Restricted Stock Units	⁽¹⁶⁾							⁽²⁰⁾	⁽²⁰⁾	Class A Common Stock	3872		3872	D
Performance Restricted Stock Units	⁽¹⁶⁾							⁽²¹⁾	⁽²¹⁾	Class A Common Stock	3872		3872	D

Explanation of Responses:
(1)	On March 6, 2021, 1,759 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
(2)	On March 6, 2021, 1,409 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
(3)	On March 6, 2021, 1,367 of the Reporting Person's restricted stock units were settled for an equal number of shares of Class A Common Stock.
(4)	Shares withheld for payment of tax liability.
(5)	Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $245.90 to $246.10 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.
(6)	These shares are held by a limited liability company of which the Reporting Person is the sole manager and whose revocable trust is the sole member.
(7)	The trust is for the benefit of one of the Reporting Person's children.
(8)	These options are immediately exercisable.
(9)	Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(10)	These restricted stock units vest in accordance with the following schedule: 1,758 vest on the first anniversary of the grant date and 1,759 vest on each of the second through fourth anniversaries of the grant date (March 6, 2017).
(11)	These options vest in accordance with the following schedule: 13,518 vest on each of the first and the third anniversaries of the grant date, and 13,519 vest on each of the second and the fourth anniversaries of the grant date (March 6, 2018).
(12)	These restricted stock units vest in accordance with the following schedule: 1,409 vest on each of the first through fourth anniversaries of the grant date (March 6, 2018).
(13)	These options vest in accordance with the following schedule: 14,695 vest on each of the first through third anniversaries of the grant date and 14,696 vest on the fourth anniversary of the grant date (March 6, 2019).
(14)	These restricted stock units vest in accordance with the following schedule: 1,366 vest on the first anniversary of the grant date and 1,367 vest on each of the second through fourth anniversaries of the grant date (March 6, 2019).
(15)	These restricted stock units vest in accordance with the following schedule: 1,285 vest on the first and second anniversaries of the grant date and 1,286 vest on the third anniversary of the grant date (February 25, 2020).
(16)	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(17)	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.
(18)	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.
(19)	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 vest on each of the second and third anniversaries of the grant date (March 4, 2021).
(20)	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.
(21)	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
Reporting Owner Name / Address	Director	10% Owner	Officer	Other
BAGWELL KURT L C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON, FL 33487			EVP; Pres. - International