TUCOWS INC /PA/ — Director's Dealing 2012

Feb 24, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2012-02-22

Reporting Person: COOPERMAN MICHAEL (CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-02-22	Common Stock	M	50000	$0.44	Acquired	50100	Direct
2012-02-22	Common Stock	M	8500	$0.37	Acquired	58600	Direct
2012-02-22	Common Stock	M	76500	$0.36	Acquired	135100	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-02-22	Stock Option (Right to Buy)	$0.44	M	50000	Disposed	2012-07-01	Common Stock (50000)	Direct
2012-02-22	Stock Option (Right to Buy)	$0.37	M	8500	Disposed	2013-08-05	Common Stock (8500)	Direct
2012-02-22	Stock Option (Right to Buy)	$0.36	M	76500	Disposed	2013-08-04	Common Stock (76500)	Direct

Footnotes

F1: 25% of the options granted vest one year after the grant date and the remainder vest on a monthly basis for the three years thereafter.