TUCOWS INC /PA/ — Director's Dealing 2017

Mar 30, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2017-03-29

Reporting Person: Schafer Kenneth Derrick (EVP Retail)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-03-29	Common Stock	M	1875	$5.52	Acquired	35224	Direct
2017-03-29	Common Stock	M	3125	$5.76	Acquired	38349	Direct
2017-03-29	Common Stock	M	1562	$10.16	Acquired	39911	Direct
2017-03-29	Common Stock	M	2500	$19.41	Acquired	42411	Direct
2017-03-29	Common Stock	M	1250	$21.10	Acquired	43661	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-03-29	Stock Option (Right to Buy)	$5.52	M	1875	Disposed	2019-05-17	Common Stock (1875)	Direct
2017-03-29	Stock Option (Right to Buy)	$5.76	M	3125	Disposed	2019-12-31	Common Stock (3125)	Direct
2017-03-29	Stock Option (Right to Buy)	$10.16	M	1562	Disposed	2020-11-10	Common Stock (1562)	Direct
2017-03-29	Stock Option (Right to Buy)	$19.41	M	2500	Disposed	2022-01-01	Common Stock (2500)	Direct
2017-03-29	Stock Option (Right to Buy)	$21.10	M	1250	Disposed	2023-01-03	Common Stock (1250)	Direct

Footnotes

F1: Options vest 25% per year over a four period at which point they are fully vested. 25% are vested one year after the initial grant.