Ownership Submission
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 *
Lazarus Brian 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)
VP & Chief Accounting Officer
(Last)
(First)
(Middle)
C/O SBA COMMUNICATIONS CORPORATION, 5900 BROKEN SOUND PARKWAY, NW		 3. Date of Earliest Transaction (Month/Day/Year)
03/09/2012
(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 03/09/2012   M   1,189 A $ 19.68 2,542 D  
Class A Common Stock 03/09/2012   M   2,814 A $ 28.54 5,356 D  
Class A Common Stock 03/09/2012   S   1,189 D $ 49.7 4,167 D  
Class A Common Stock 03/09/2012   S   2,814 D $ 49.71 1,353 D  

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) $ 19.68 03/09/2012   M     1,189   (1) 03/05/2016 Class A Common Stock 1,189 $ 0 18,935 D  
Stock Options (Right to Buy) $ 26.2               (2) 10/09/2016 Class A Common Stock 722   722 D  
Stock Options (Right to Buy) $ 28.54 03/09/2012   M     2,814   (2) 02/26/2014 Class A Common Stock 2,814 $ 0 0 D  
Stock Options (Right to Buy) $ 32.39               (2) 02/28/2015 Class A Common Stock 5,675   5,675 D  
Stock Options (Right to Buy) $ 31.09               (3) 09/12/2015 Class A Common Stock 5,985   5,985 D  
Stock Options (Right to Buy) $ 35.71               (4) 03/04/2017 Class A Common Stock 12,626   12,626 D  
Restricted Stock Units (5)               (6)   (6) Class A Common Stock 1,441   1,441 D  
Stock Options (Right to Buy) $ 42.15               (7) 03/04/2018 Class A Common Stock 12,011   12,011 D  
Restricted Stock Units (5)               (8)   (8) Class A Common Stock 2,073   2,073 D  
Stock Options (Right to Buy) $ 47.52               (9) 03/06/2019 Class A Common Stock 12,640   12,640 D  
Restricted Stock Units (5)               (10)   (10) Class A Common Stock 2,795   2,795 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Lazarus Brian D
C/O SBA COMMUNICATIONS CORPORATION
5900 BROKEN SOUND PARKWAY, NW
BOCA RATON, FL 33487		       VP & Chief Accounting Officer  

Signatures

 /s/ Joshua M. Koenig, Attorney-in-Fact   03/09/2012
**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) 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).
(2) These options are immediately exercisable.
(3) 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).
(4) 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).
(5) Each restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(6) 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).
(7) These options vest in accordance with the following schedule: 3,002 vest on the first anniversary of the grant date and 3,003 vest on each of the third through fourth anniversaries of the grant date (March 4, 2011).
(8) These restricted stock units vest in accordance with the following schedule: 691 vest on each of the first through fourth anniversaries of the grant date (March 4, 2011).
(9) These options vest in accordance with the following schedule: 3,160 vest on each of the first through fourth anniversaries of the grant date (March 6, 2012).
(10) These restricted stock units vest in accordance with the following schedule: 698 vest on the first anniversary of the grant date and 699 vest on each of the second through fourth anniversaries of the grant date (March 6, 2012).

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