SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person^*

Cavanagh Brendan Thomas

(Last)

(First)

(Middle)

C/O SBA COMMUNICATIONS CORPORATION

5900 BROKEN SOUND PARKWAY NW

(Street)

BOCA RATON

33487

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
06/08/2004

3. Issuer Name and Ticker or Trading Symbol
SBA COMMUNICATIONS CORP [ SBAC ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Accounting Officer

5. If Amendment, Date of 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

Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	2,019	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Options (Right to buy)	⁽¹⁾	03/01/2008	Class A Common Stock	1,667	$2.63	D
Stock Options (Right to buy)	⁽²⁾	12/16/2009	Class A Common Stock	1,667	$8	D
Stock Options (Right to buy)	⁽³⁾	09/13/2010	Class A Common Stock	4,667	$8	D
Stock Options (Right to buy)	⁽⁴⁾	12/19/2007	Class A Common Stock	91	$8	D
Stock Options (Right to buy)	⁽⁵⁾	12/19/2007	Class A Common Stock	2,243	$8	D
Stock Options (Right to buy)	⁽⁶⁾	01/07/2012	Class A Common Stock	736	$8	D
Stock Options (Right to buy)	⁽⁷⁾	01/07/2012	Class A Common Stock	2,598	$8	D
Stock Options (Right to buy)	⁽⁸⁾	05/14/2013	Class A Common Stock	50,000	$2.1	D
Stock Options (Right to buy)	⁽⁹⁾	02/11/2014	Class A Common Stock	35,000	$4.25	D

Explanation of Responses:

1. These options are immediately exercisable.

2. These options vest in accordance with the following schedule: 416 vest on the six month anniversary of the grant date and 417 vest on each of the eighteen, thirty and forty-two month anniversaries of the grant date.

3. These options vest in accordance with the following schedule: 1,166 vest on the six month anniversary of the grant date and 1,167 vest on each of the eighteen, thirty and forty-two month anniversaries of the grant date.

4. These options vest in accordance with the following schedule: 22 vest on the six month anniversary of the grant date and 23 vest on each of the eighteen, thirty and forty-two month anniversaries of the grant date.

5. These options vest in accordance with the following schedule: 560 vest on the six month anniversary of the grant date and 561 vest on each of the eighteen, thirty and forty-two month anniversaries of the grant date.

6. These options vest in accordance with the following schedule: 184 vest on each of the six, eighteen, thirty and forty-two month anniversaries of the grant date.

7. These options vest in accordance with the following schedule: 649 vest on each of the six and thirty month anniversaries of the grant date and 650 vest on each of the eighteen and forty-two month anniversaries of the grant date.

8. These options vest in accordance with the following schedule: 12,500 vest on each of the first through fourth anniversaries of the grant date.

9. These options vest in accordance with the following schedule: 8,750 vest on each of the first through fourth anniversaries of the grant date.

	/s/ Brendan T. Cavanagh	06/10/2004
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.