TUCOWS INC /PA/ — Director's Dealing 2015

Dec 11, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2015-12-10

Reporting Person: Woroch David John (EVP Wholesale)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-12-10	Common Stock	M	32000	$2.80	Acquired	88517	Direct
2015-12-10	Common Stock	F	10781	$23.82	Disposed	77736	Direct
2015-12-10	Common Stock	M	8750	$2.92	Acquired	86486	Direct
2015-12-10	Common Stock	F	2948	$23.82	Disposed	83538	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-12-10	Stock Option (right to buy common stock)	$2.80	M	32000	Disposed	2017-05-16	Common Stock (32000)	Direct
2015-12-10	Stock Option (right to buy common stock)	$2.92	M	8750	Disposed	2018-08-14	Common Stock (8750)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	54984	Indirect
Common Stock	10750	Indirect

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.