TUCOWS INC /PA/ — Director's Dealing 2020

May 5, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: TUCOWS INC /PA/ (TCX)
CIK: 0000909494
Period of Report: 2020-05-04

Reporting Person: NOSS ELLIOT (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-05-04	Common Stock	S	2000	$51.97	Disposed	549161	Direct
2020-05-04	Common Stock	S	1000	$52.14	Disposed	548161	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	114670	Indirect
Common Stock	1639	Indirect
Common Stock	6000	Indirect
Common Stock	6206	Indirect

Footnotes

F1: These shares were sold by the filers broker under Rule 10b5-1.

F2: These shares were sold on the TSX and the price reported in Column 4 is derived from a price of $73.25 CAD. The exchange rate for May 4, 2020 was 0.70944 giving a USD price of $51.9667 which has been rounded to USD 51.97.

F3: These shares were sold on the TSX and the price reported in Column 4 is derived from a price of $73.50 CAD. The exchange rate for May 4, 2020 was 0.70944 giving a USD price of $52.1440 which has been rounded to USD 52.14.