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

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL OMB Number: 3235-0287 Expires: January 31, 2005 Estimated average burden hours per response... 0.5

(Print or Type Responses)

1. Name and Address of Reporting Person * Schafer Kenneth Derrick   2. Issuer Name and Ticker or Trading Symbol TUCOWS INC /PA/ [TCX] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner __X__ Officer (give title below) _____ Other (specify below) EVP Retail (Last) (First) (Middle) 96 MOWAT AVENUE 3. Date of Earliest Transaction (Month/Day/Year) 12/08/2015 (Street) TORONTO, A6 M6K 3M1 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Joint/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ Form filed by More than One Reporting Person (City) (State) (Zip) 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 Common Stock 12/08/2015   M   32,000 A $ 2.8 32,025 D   Common Stock 12/08/2015   F   10,791 D $ 23.52 21,234 D   Common Stock 12/08/2015   M   8,750 A $ 2.92 29,984 D   Common Stock 12/08/2015   F   2,984 D $ 23.52 27,000 D   Common Stock 12/08/2015   M   5,625 A $ 5.52 32,625 D   Common Stock 12/08/2015   F   2,386 D $ 23.52 30,239 D   Common Stock 12/08/2015   M   3,125 A $ 5.76 33,364 D   Common Stock 12/08/2015   F   1,350 D $ 23.52 32,014 D   Common Stock 12/08/2015   M   3,125 A $ 10.16 35,139 D   Common Stock 12/08/2015   F   1,790 D $ 23.52 33,349 D

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
	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 control number.		SEC 1474 (9-02)

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 Underlying Securities (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 of Derivative Security: 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 common stock)

$ 2.8

12/08/2015

M

32,000

(1)

05/16/2017

Common Stock

32,000

$ 0

0

D

Stock Option (right to buy common stock)

$ 2.92

12/08/2015

M

8,750

(2)

08/14/2018

Common Stock

8,750

$ 0

0

D

Stock Option (right to buy common stock)

$ 5.52

12/08/2015

M

5,625

(3)

05/17/2019

Common Stock

5,625

$ 0

0

D

Stock Option (right to buy common stock)

$ 5.76

12/08/2015

M

3,125

(4)

12/31/2019

Common Stock

3,125

$ 0

0

D

Stock Option (right to buy common stock)

$ 10.16

12/08/2015

M

3,125

(5)

11/10/2020

Common Stock

3,125

$ 0

0

D

Reporting Owners

Reporting Owner Name / Address	Relationships
	Director	10% Owner	Officer	Other
Schafer Kenneth Derrick 96 MOWAT AVENUE TORONTO, A6 M6K 3M1			EVP Retail

Signatures

/s/ Kenneth Schafer		12/10/2015
**Signature of Reporting Person		Date

Explanation of Responses:

*	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).
(1)	Stock options granted under the 2006 Equity Compensation Plan. The options (32,000 in the original grant) vested in four annual installments of 25% each beginning on the first anniversary of the grant date (May 17, 2010).
(2)	Stock options granted under the 2006 Equity Compensation Plan. The options (8,750 in the original grant) vested in four annual installments of 25% each beginning on the first anniversary of the grant date (August 15, 2011).
(3)	Stock options granted under the 2006 Equity Compensation Plan. The options (7,500 in the original grant) vest in four annual installments of 25% each beginning on the first anniversary of the grant date (May 18, 2012).
(4)	Stock options granted under the 2006 Equity Compensation Plan. The options (6,250 in the original grant) vest in four annual installments of 25% each beginning on the first anniversary of the grant date (January 1, 2013).
(5)	Stock options granted under the 2006 Equity Compensation Plan. The options (6,250 in the original grant) vest in four annual installments of 25% each beginning on the first anniversary of the grant date (November 11, 2013).

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.