TACTILE SYSTEMS TECHNOLOGY INC — Director's Dealing 2017

May 11, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TACTILE SYSTEMS TECHNOLOGY INC (TCMD)
CIK: 0001027838
Period of Report: 2017-05-09

Reporting Person: SHROFF ZUBEEN (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-09	Common Stock	A	170	$21.68	Acquired	6494	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4743635	Indirect
Common Stock	62056	Indirect

Footnotes

F1: On May 9, 2017, the reporting person was granted 170 restricted stock units ("RSUs") in lieu of a prorated cash compensation amount of $3,694.44 for the amount of time the reporting person served as director during the second quarter. The RSUs are 100% immediately vested and may only be settled in shares of common stock on a one-for-one basis.

F2: Includes 4,370,430 shares held of record by Galen Partners V, L.P. ("Galen V"), and 373,205 shares held of record by Galen Partners International V, L.P. ("Galen International V").

F3: Galen Partners V, L.L.C. serves as the sole general partner of Galen V and Galen International V and has sole voting and investment control over the shares held by such funds and may be deemed to beneficially own the shares held by such funds. Each of the Reporting Person disclaims beneficial ownership of the shares reported herein, except to the extent of its respective pecuniary interest therein.

F4: The shares are held of record by Galen Management, LLC ("Galen Management").