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Elliot Noss, the Chief Executive Officer of Tucows Inc (NASDAQ:TCX), recently sold a total of $19,966 worth of the company’s common stock, according to a recent SEC filing. The transactions took place on April 2 and April 3, as part of a pre-established Rule 10b5-1 trading plan. The company, currently valued at $178 million, has been facing challenges with InvestingPro data showing significant debt levels and accelerated cash burn.
On April 2, Noss sold 200 shares at prices ranging from $16.94 to $17.02, and on April 3, he sold an additional 1,000 shares at prices between $16.39 and $16.68. The stock has declined nearly 18% over the past six months and currently trades at $16.20, near its 52-week low of $14.50. Following these transactions, Noss holds 468,998 shares directly. Additionally, he maintains indirect ownership of shares through various accounts, including retirement savings and accounts held by his spouse.
These sales are part of Noss’s planned trading activities and do not necessarily reflect his outlook on the company’s future performance. InvestingPro analysis reveals several additional insights about Tucows’ financial health and valuation metrics, with more than 6 key ProTips available to subscribers.
In other recent news, Tucows Inc. has announced a new date for its 2025 Annual Meeting of Shareholders, now set for May 20, 2025. This change is significant as it exceeds the 30-day threshold from the previous year’s meeting anniversary, requiring notification to shareholders under SEC rules. Consequently, the deadlines for shareholder proposals and director nominations have been updated. Shareholders must now submit proposals by April 5, 2025, to be included in the proxy materials, in accordance with Rule 14a-8 of the Exchange Act. This date also serves as the deadline for notifying the company of any proposals or director nominations outside of Rule 14a-8 guidelines. The submissions need to be sent to the company’s Secretary at the Toronto office and must adhere to SEC regulations and company bylaws. This announcement was part of a recent SEC filing and ensures shareholders are informed about the new timelines for governance participation. Further details, including the exact time and location of the meeting, will be provided in the upcoming proxy statement from Tucows.
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