TUCOWS INC /PA/ — Director's Dealing 2015

Dec 15, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2015-12-14

Reporting Person: Rader Ross (vp Customer Experience)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-14	Common Stock	M	4250	$2.80	Acquired	34822	Direct
2015-12-14	Common Stock	F	1773	$21.80	Disposed	33049	Direct
2015-12-14	Common Stock	M	2250	$2.92	Acquired	35299	Direct
2015-12-14	Common Stock	F	939	$21.80	Disposed	34360	Direct
2015-12-14	Common Stock	M	2343	$5.52	Acquired	36703	Direct
2015-12-14	Common Stock	F	978	$21.80	Disposed	35725	Direct
2015-12-14	Common Stock	M	1562	$8.56	Acquired	37287	Direct
2015-12-14	Common Stock	F	652	$21.80	Disposed	36635	Direct
2015-12-14	Common Stock	M	575	$15.93	Acquired	37210	Direct
2015-12-14	Common Stock	F	240	$21.80	Disposed	36970	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-14	Stock Option (right to buy common stock)	$2.80	M	4250	Disposed	2017-05-16	Common Stock (4250)	Direct
2015-12-14	Stock Option (right to buy common stock)	$2.92	M	2250	Disposed	2018-08-14	Common Stock (2250)	Direct
2015-12-14	Stock Option (right to buy common stock)	$5.52	M	2343	Disposed	2019-05-17	Common Stock (2343)	Direct
2015-12-14	Stock Option (right to buy common stock)	$8.56	M	1562	Disposed	2020-05-12	Common Stock (1562)	Direct
2015-12-14	Stock Option (right to buy common stock)	$15.93	M	575	Disposed	2021-08-10	Common Stock (575)	Direct

Footnotes

F1: Under the terms of the Issuer's stock incentive plan, these shares were withheld by the Issuer to cover the option exercise price and tax withholding obligations related to the net exercise of the above options.

F2: Options vest 25% per year over four years.