TUCOWS INC /PA/ — Director's Dealing 2015

May 29, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2015-05-27

Reporting Person: Ralls Rawleigh Hazen IV (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-05-27	Common Stock	S	11788	$26.43	Disposed	324462	Direct
2015-05-28	Common Stock	S	15812	$26.316	Disposed	308650	Direct
2015-05-29	Common Stock	S	12400	$27.0793	Disposed	296250	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	40000	Indirect
Common Stock	56250	Indirect
Common Stock	6250	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $27.00 to $27.266972, inclusive. The Reporting Person undertakes to provide to the Issuer, any security holder of Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each price within the ranges set forth in this footnote.