Tucows (TCX) director receives grant of 3,750 stock options

Rhea-AI Filing Summary

Tucows Inc. director Sandra Carola Matz-Cerf received a grant of stock options covering 3,750 shares of common stock. The options have an exercise price of $14.66 per share and are exercisable beginning on June 2, 2027, with an expiration date of June 2, 2031. This is a compensation-related award, not an open-market purchase or sale, and after this grant she holds 3,750 stock options directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Matz-Cerf Sandra Carola

Role null

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (Right to Buy)	3,750	$0.00	--

Holdings After Transaction: Stock Option (Right to Buy) — 3,750 shares (Direct, null)

Footnotes (1)

Key Figures

Options granted: 3,750 options Exercise price: $14.66 per share Underlying shares: 3,750 shares +3 more

6 metrics

Options granted 3,750 options Stock Option (Right to Buy) grant to director

Exercise price $14.66 per share Stock option exercise price

Underlying shares 3,750 shares Common Stock underlying the options

Options exercisable date June 2, 2027 First exercise date of options

Options expiration date June 2, 2031 Expiration of stock options

Options held after grant 3,750 options Total derivative holdings following transaction

Key Terms

Stock Option (Right to Buy), Grant, award, or other acquisition, Common Stock

3 terms

Stock Option (Right to Buy) financial

"security_title: "Stock Option (Right to Buy)""

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition""

Common Stock financial

"underlying_security_title: "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Matz-Cerf Sandra Carola

(Last) (First) (Middle)

96 MOWAT AVENUE

(Street)

TORONTO ONTARIO M6K 3M1

(City) (State) (Zip)

CANADA (FEDERAL LEVEL)

(Country)

2. Issuer Name and Ticker or Trading Symbol
TUCOWS INC /PA/ [ TCX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (Right to Buy)	$14.66	06/02/2026		A		3,750		06/02/2027	06/02/2031	Common Stock	3,750	$0	3,750	D

Explanation of Responses:

	/s/ Katherine Young, attorney-in-fact for Dr. Matz-Cerf	06/09/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did Tucows (TCX) director Sandra Matz-Cerf report?

She reported receiving a grant of stock options for 3,750 shares of Tucows common stock. The options are a compensation-related award, not a market trade, and give her the right to buy shares at a fixed exercise price.

What is the exercise price of the Tucows (TCX) options granted to Sandra Matz-Cerf?

The granted stock options have an exercise price of $14.66 per share. This means she can purchase Tucows common stock at $14.66 regardless of future market price, once the options become exercisable.

When do Sandra Matz-Cerf’s Tucows (TCX) stock options become exercisable and when do they expire?

The options become exercisable on June 2, 2027 and expire on June 2, 2031. After the expiration date, any unexercised options will lapse and can no longer be used to buy Tucows common shares.

How many Tucows (TCX) stock options does Sandra Matz-Cerf hold after this Form 4?

Following this transaction, she holds 3,750 stock options directly. Each option relates to one share of Tucows common stock, giving her potential future ownership if she chooses to exercise them.

Is Sandra Matz-Cerf’s Tucows (TCX) option grant a stock purchase or sale?

No. The filing shows a grant of stock options as compensation, coded as a grant or award acquisition. It does not reflect an open-market buy or sell of Tucows common shares by the director.