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| FORM 4 | UNITED STATES SECURITIES AND EXCHANGE COMMISSION
+--------+ WASHINGTON, D.C. 20549
[_] Check this box if
no longer subject STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP
to Section 16.
Form 4 or Form 5 Filed pursuant to Section 16(a) of the Securities
obligations may Exchange Act of 1934, Section 17(a) of the
continue. See Public Utility Holding Company Act of 1935 or
Instruction 1(b). Section 30(f) of the Investment Company Act of 1940
(Print or Type Responses)
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1. Name and Address of Reporting Person*
Bernstein, Steven E.
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(Last) (First) (Middle)
c/o SBA Communications Corporation
One Town Center Road
Third Floor
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(Street)
Boca Raton FL 33486
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(City) (State) (Zip)
SBA Communications Corporation
2. Issuer Name and Ticker or Trading Symbol (NASDAQ National Market: SBAC)
-----------------------------------
3. IRS Identification Number of Reporting Person, if an entity
(Voluntary)
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4. Statement for Month/Year 6/99
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5. If Amendment, Date of Original (Month/Year)
6. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director X 10% Owner
----- -- --
X Officer Other
-- -- -----
(give title below) (specify below)
Chairman of the Board, President and Chief Executive Officer
------------------------------------------------------------
7. 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
<TABLE>
<CAPTION>
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1. Title 2. Trans- 3. Trans- 4. Securities Acquired (A) 5. Amount of 6. Owner- 7. Nature
of action action or Disposed of (D) Securities ship of Indirect
Security Date Code (Instr. 3, 4 and 5) Beneficially Form: Beneficial
(Instr. 3) (Month/ (Instr. 8) Owned at Direct Ownership
Day/ ----------------------------------------------- End of (D) or (Instr. 4)
Year) Month Indirect (I)
Code V Amount (A) or Price (Instr. 3 and 4) (Instr. 4)
(D)
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<S> <C> <C> <C> <C> <C> <C> <C> <C> <C>
Class A Common Stock 6/21/99 P 222,222 A 9.00 300,641 I These Securities
are beneficially
owned directly
by Bernstein
Family Limited
Partnership I and II
Indirectly owned by
self as sole
general partner
of Bernstein
Family Limited
Partnership I and II
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</TABLE>
(Over)
SEC 1474 (7-97)
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)
Potential persons who are to respond to the
collection of information contained in this form
are not required to respond unless the form
displays a currently valid OMB control number
FORM 4 (continued)
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)
<TABLE>
<CAPTION>
- -----------------------------------------------------------------------------------------------------------------------------
1. Title of Derivative 2. Conver- 3. Trans- 4. Transac- 5. Number of Deriv-
Security (Instr. 3) sion or action tion Code ative Securities
Exercise Date (Instr. 8) Acquired (A) or
Price of (Month/ Disposed of (D)
Deriv- Day/ (Instr. 3, 4 and 5)
ative Year)
Security
--------------------------------------------------
Code V (A) (D)
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<S> <C> <C> <C> <C> <C> <C>
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</TABLE>
TABLE II--DERIVATIVE SECURITIES ACQUIRED, DISPOSED OF, OR BENEFICIALLY OWNED
(e.g., puts, calls, warrants, options, convertible securities)--CONTINUED
<TABLE>
<CAPTION>
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6. Date Exer- 7. Title and Amount of 8. Price 9. Number 10. Owner- 11. Na-
cisable and Underlying Securities of of Deriv- ship ture
Expiration (Instr. 3 and 4) Deriv- ative Form of In-
Date ative Secur- of De- direct
(Month/Day/ Secur- ities rivative Bene-
Year) ity Bene- Secu- ficial
(Instr. 5) ficially rity: Owner-
-------------------------------------------- Owned Direct ship
Date Expira- Amount or at End (D) or (Instr. 4)
Exer- tion Title Number of of Indi-
cisable Date Shares Month rect (1)
(Instr. 4) (Instr. 4)
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<S> <C> <C> <C> <C> <C> <C> <C> <C>
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</TABLE>
Explanation of Responses:
**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.
Potential persons who are to respond to the collection of information contained
in this form are not required to respond unless the form displays a currently
valid OMB Number.
/s/ Steven E. Bernstein 7/10/99
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**Signature of Reporting Person Date
Steven E. Bernstein
Chairman, Chief Executive
Officer and President
Page 2
SEC 1474 (7-97)
