Blacksheep Master Fund Ltd. - Jan 31, 2023 Form 4 Insider Report for TUCOWS INC /PA/ (TCX)

Role
10%+ Owner
Signature
Blacksheep Master Fund Ltd, By: Blacksheep Fund Management Limited, By: /s/ Alexis Fortune, Chief Executive Officer
Stock symbol
TCX
Transactions as of
Jan 31, 2023
Transactions value $
-$1,938,662
Form type
4
Date filed
2/2/2023, 03:43 PM
Previous filing
Feb 1, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction TCX Common Stock Sale -$157K -4.7K -0.43% $33.44 1.1M Jan 31, 2023 Direct F1
transaction TCX Common Stock Sale -$1.78M -53.7K -4.88% $33.19 1.05M Feb 1, 2023 Direct F1
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Blacksheep Master Fund Ltd. is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 The securities are owned directly by Blacksheep Master Fund Ltd. and may be deemed to be indirectly beneficially owned by (i) Blacksheep Fund Management Limited, the investment manager to Blacksheep Master Fund Ltd., (ii) Herdwick Capital Ltd., the parent company of Blacksheep Fund Management Limited, and (ii) Alexis Fortune, the controlling person of Herdwick Capital Ltd. Each Reporting Person disclaims beneficial ownership in the securities reported on this Form 4 except to the extent of its or his pecuniary interest, if any, therein, and this report shall not be deemed to be an admission that such Reporting Person is the beneficial owner of such securities for purposes of Section 16 or for any other purpose.