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 *
NIELSEN STEVEN E
   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
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
C/O SBA COMMUNICATIONS CORPORATION, 5900 BROKEN SOUND PARKWAY N.W.		 3. Date of Earliest Transaction (Month/Day/Year)
11/17/2008
(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 11/17/2008   M   5,000 A $ 3.33 25,000 D  
Class A Common Stock 11/17/2008   M   5,000 A $ 4.49 30,000 D  
Class A Common Stock 11/17/2008   S   10,000 D $ 14.9416 (1) 20,000 D  
Class A Common Stock 11/17/2008   G(2) V 10,000 D $ 0 10,000 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) $ 3.33 11/17/2008   M     5,000   (3) 07/18/2013 Class A Common Stock 5,000 $ 0 0 D  
Stock Options (Right to Buy) $ 4.49 11/17/2008   M     5,000   (3) 07/30/2014 Class A Common Stock 5,000 $ 0 0 D  
Stock Options (Right to Buy) $ 14.8               (3) 07/22/2015 Class A Common Stock 10,000   10,000 D  
Stock Options (Right to Buy) $ 26.36               (4) 05/05/2016 Class A Common Stock 10,000   10,000 D  
Stock Options (Right to Buy) $ 30.07               (5) 05/17/2014 Class A Common Stock 10,000   10,000 D  
Stock Options (Right to Buy) $ 34.49               (6) 05/06/2015 Class A Common Stock 9,514   9,514 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
NIELSEN STEVEN E
C/O SBA COMMUNICATIONS CORPORATION
5900 BROKEN SOUND PARKWAY N.W.
BOCA RATON, FL 33487		   X      

Signatures

 /s/ Thomas P. Hunt, Attorney-in-Fact   11/19/2008
**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) Represents the weighted average price of the shares sold. The prices of the shares sold pursuant to the transactions ranged from $14.70 to $15.20 per share. Mr. Nielsen, 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.
(2) The reporting person transferred these shares as a gift in an exempt transaction pursuant to Rule 16b-5 of the Exchange Act to the Fidelity Charitable Gift Fund, a charitable organization meeting the requirements of Internal Revenue Code Section 501(c)(3). The reporting person has no pecuniary interest in the Fidelity Charitable Gift Fund's assets.
(3) These options are immediately exercisable.
(4) These options vest in accordance with the following schedule: 3,333 vested on the earlier of the anniversary of the grant date or the day immediately prior to the 2007 annual meeting of shareholders; 3,333 vested on the earlier of the second anniversary of the grant date or the day immediately prior to the 2008 annual meeting of shareholders; and 3,334 vest on the earlier of the third anniversary of the grant date or the day immediately prior to the 2009 annual meeting of shareholders.
(5) These options vest in accordance with the following schedule: 3,333 vested on the day immediately prior to the 2008 annual meeting of shareholders; 3,333 vest on the day immediately prior to the 2009 annual meeting of shareholders; and 3,334 vest on the day immediately prior to the 2010 annual meeting of shareholders.
(6) These options vest in accordance with the following schedule: 3,171 vest on the day immediately prior to the 2009 annual meeting of shareholders; 3,171 vest on the day immediately prior to the 2010 annual meeting of shareholders; and 3,172 vest on the day immediately prior to the 2011 annual meeting of shareholders.

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