SEC FORM 4

SEC Form 4

FORM 4

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

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

STOOPS JEFFREY

(Last)

(First)

(Middle)

5900 BROKEN SOUND PARKWAY, NW

(Street)

BOCA RATON

33487

(City)

(State)

(Zip)

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

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

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	Chief Executive Officer & Pres

3. Date of Earliest Transaction (Month/Day/Year)
01/14/2008

4. 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 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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	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	01/14/2008		M		6,557	A	$15.25	960,858	D
Class A Common Stock	01/14/2008		M		43,750	A	$8.56	1,004,608	D
Class A Common Stock	12/19/2007		G⁽⁷⁾	V	2,000	D	$0	1,002,608	D
Class A Common Stock	12/21/2007		G⁽⁸⁾	V	2,600	D	$0	1,000,008	D
Class A Common Stock	12/21/2007		G⁽⁸⁾	V	650	A	$0	650⁽⁸⁾	I	By Trust
Class A Common Stock	12/21/2007		G⁽⁸⁾	V	650	A	$0	650⁽⁸⁾	I	By Trust
Class A Common Stock	12/21/2007		G⁽⁸⁾	V	650	A	$0	650⁽⁸⁾	I	By Trust
Class A Common Stock	12/21/2007		G⁽⁸⁾	V	650	A	$0	650⁽⁸⁾	I	By Trust
Class A Common Stock	01/10/2008		G⁽⁸⁾	V	3,200	D	$0	996,808	D
Class A Common Stock	01/10/2008		G⁽⁸⁾	V	800	A	$0	1,450⁽⁸⁾	I	By Trust
Class A Common Stock	01/10/2008		G⁽⁸⁾	V	800	A	$0	1,450⁽⁸⁾	I	By Trust
Class A Common Stock	01/10/2008		G⁽⁸⁾	V	800	A	$0	1,450⁽⁸⁾	I	By Trust
Class A Common Stock	01/10/2008		G⁽⁸⁾	V	800	A	$0	1,450⁽⁸⁾	I	By Trust
Class A Common Stock								919,863	I	By Limited Partnership⁽⁶⁾

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 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: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Stock Options (Right to buy)	$15.25	01/14/2008		M			6,557	⁽¹⁾	12/16/2009	Class A Common Stock	6,557	$0	82,623	D
Stock Options (Right to buy)	$4.25							⁽²⁾	02/11/2014	Class A Common Stock	48,750		48,750	D
Stock Options (Right to buy)	$8.56	01/14/2008		M			43,750	⁽³⁾	02/01/2015	Class A Common Stock	43,750	$0	87,500	D
Stock Options (Right to buy)	$19.1							⁽⁴⁾	01/19/2016	Class A Common Stock	142,500		142,500	D
Stock Options (Right to Buy)	$28.54							⁽⁵⁾	02/26/2014	Class A Common Stock	142,500		142,500	D

Explanation of Responses:

1. These options are immediately exercisable.

2. These options vest in accordance with the following schedule: 48,750 vest on each of the first through fourth anniversaries of the grant date (February 11, 2004).

3. These options vest in accordance with the following schedule: 43,750 vest on each of the first through fourth anniversaries of the grant date (February 1, 2005).

4. These options vest in accordance with the following schedule: 35,625 vest on each of the first through fourth anniversaries of the grant date (January 19, 2006).

5. These options vest in accordance with the following schedule: 35,625 vest on each of the first through fourth anniversaries of the grant date (February 26, 2007).

6. These shares are owned by Calculated Risk Partners, L.P., a Delaware limited partnership ("CRLP"). The reporting person and his spouse control the general partner of CRLP. The reporting person disclaims beneficial ownership of the stock owned by CRLP except to the extent of his pecuniary interest herein.

7. The reporting person transferred these shares as a gift in an exempt transaction pursuant to Rule 16b-5 of the Exchange Act.

8. These shares were transferred as a gift to four different trusts each for the benefit of one of the reporting person's four children. Of the 2,600 shares gifted on December 21, 2007 and the 3,200 shares gifted on January 10, 2008, 650 shares and 800 shares, respectively, were transferred into each of the four trusts.

	/s/ Jeffrey A. Stoops	01/16/2008
	** 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 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).
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