TUCOWS INC /PA/ — Director's Dealing 2012

May 31, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2012-05-18

Reporting Person: Goertz Carla Anne (VP Human Resources)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-05-18	Stock Option (Right to Buy)	$1.38	A	30000	Acquired	2019-05-17	Common Stock (30000)	Direct

Footnotes

F1: 25% of the granted options are exercisable on the first anniversary of the date of grant and thereafter at 25% per year, becoming fully exercisable on the fourth anniversary of the date of grant.