SBAC SBA Communications Corporation

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	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response... 0.5
	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 * 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) SVP & Chief Accounting Officer
(Last)          (First)          (Middle) C/O SBA COMMUNICATIONS CORPORATION, 8051 CONGRESS AVENUE	3. Date of Earliest Transaction (MM/DD/YYYY) 2/3/2023
(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	2/3/2023		M		638	A	$156.50	23189.178 (1)	D
Class A Common Stock	2/3/2023		F		325 (2)	D	$308.09	22864.178	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)	$156.50	2/3/2023		M			638	(3)	3/6/2025	Class A Common Stock	638	$0.00	20605	D
Stock Options (Right to Buy)	$182.30							(4)	3/6/2026	Class A Common Stock	23512		23512	D
Restricted Stock Units	(5)							(6)	(6)	Class A Common Stock	547		547	D
Restricted Stock Units	(5)							(7)	(7)	Class A Common Stock	519		519	D
Performance Restricted Stock Units	(8)							(9)	(9)	Class A Common Stock	1555		1555	D
Performance Restricted Stock Units	(8)							(10)	(10)	Class A Common Stock	1555		1555	D
Restricted Stock Units	(5)							(11)	(11)	Class A Common Stock	1083		1083	D
Performance Restricted Stock Units	(8)							(12)	(12)	Class A Common Stock	1624		1624	D
Performance Restricted Stock Units	(8)							(13)	(13)	Class A Common Stock	1624		1624	D
Restricted Stock Units	(5)							(14)	(14)	Class A Common Stock	1463		1463	D
Performance Restricted Stock Units	(8)							(15)	(15)	Class A Common Stock	1463		1463	D
Performance Restricted Stock Units	(8)							(16)	(16)	Class A Common Stock	1463		1463	D

Explanation of Responses:
(1)	Includes 199.253 shares acquired through a dividend reinvestment plan.
(2)	Represents shares used to pay option exercise price.
(3)	These options are immediately exercisable.
(4)	These options vest in accordance with the following schedule: 5,878 vest on each of the first through fourth anniversaries of the grant date (March 6, 2019).
(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: 546 vest on each of the first and third anniversaries of the grant date and 547 vest on each of the second and fourth anniversaries of the grant date (March 6, 2019).
(7)	These restricted stock units vest in accordance with the following schedule: 518 vest on the first and second anniversaries of the grant date and 519 vest on the third anniversary of the grant date (February 25, 2020).
(8)	Each performance restricted stock unit represents a contingent right to receive one share of Class A Common Stock.
(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 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.
(11)	These restricted stock units vest in accordance with the following schedule: 541 vest on each of the first and second anniversaries of the grant date and 542 vest on the third anniversary of the grant date (March 4, 2021).
(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.
(13)	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.
(14)	These restricted stock units vest in accordance with the following schedule: 487 vest on the first anniversary of the grant date and 488 vest on each of the second and third anniversaries of the grant date (March 4, 2022).
(15)	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, 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.
(16)	These performance restricted stock units have a three-year performance period and to the extent earned will vest 100% on March 4, 2025, 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
Lazarus Brian D C/O SBA COMMUNICATIONS CORPORATION 8051 CONGRESS AVENUE BOCA RATON, FL 33487			SVP & Chief Accounting Officer

Signatures
/s/ Joshua Koenig, Attorney-in-Fact		2/7/2023
**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).
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