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Elliot Noss, the Chief Executive Officer of Tucows Inc. (NASDAQ:TCX), recently sold a portion of his holdings in the company. The transaction comes as Tucows faces challenging market conditions, with the stock down about 26% over the past six months and trading near its current price of $16. According to a filing with the Securities and Exchange Commission, Noss sold 300 shares of Tucows common stock on April 9, 2025, at prices ranging from $15.02 to $15.03, amounting to a total transaction value of approximately $4,506. The company, currently valued at $174.5 million, has been struggling with profitability and carries a significant debt burden, according to InvestingPro analysis.
Following this transaction, Noss holds 467,198 shares directly. The sale was conducted under a Rule 10b5-1 trading plan, which Noss adopted on September 15, 2023. This plan allows insiders of publicly traded corporations to set up a predetermined trading schedule to sell stocks they own.
In addition to his direct holdings, Noss has indirect ownership through several accounts, including a Retirement Savings Account and a Tax-Free Savings Account, as well as shares held by his spouse. However, he disclaims beneficial ownership of the securities held by his spouse.
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 rescheduling marks a significant change from the previous year’s meeting date, exceeding the 30-day threshold from the anniversary date of the 2024 Annual Meeting. As a result, shareholders have a new deadline of April 5, 2025, to submit proposals for inclusion in the proxy materials, in accordance with Rule 14a-8 of the Exchange Act. This date also serves as the cutoff for notifying the company of any proposals or nominations for directors outside of Rule 14a-8 guidelines. Tucows has emphasized that any submissions must be received by the close of business on April 5, 2025, and sent to the company’s Secretary at the Toronto office. These changes were outlined in a recent SEC filing, ensuring compliance with federal securities laws. The exact time and location of the 2025 Annual Meeting will be provided in the forthcoming proxy statement from Tucows.
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