Tucows 2013 Annual Report Download - page 71

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the Company. Each of Lacuna LLC and Lacuna Hedge GP disclaims beneficial ownership of the shares held by Lacuna
Hedge, except to the extent of its pecuniary interest therein. Mr. Ralls is a member of Lacuna LLC. Mr. Ralls disclaims
beneficial ownership of the shares held by Lacuna Hedge, except to the extent of his pecuniary interest therein.
(7)
Includes 12,500 shares of common stock that are owned jointly by Dr. Morrisett and his wife.
76
Principal shareholders.
The following table sets forth information with respect to each shareholder known to us to be the beneficial owner
of more than 5% of our outstanding common stock as of March 17, 2014.
Beneficial Ownership of
Common Stock
Name and Address of Beneficial Owner
Number of
Shares
Beneficially
Owned
Percent of
Class (1)
Lacuna, LLC
850,000
(2)
7.6
%
1100 Spruce Street, Suite 202
Boulder, CO 80302
Osmium Partners, LLC
1,054,177
(3)
9.4
%
300 Drakes Landing Road, Suite 172
Greenbrae, CA 94904
Elliot Noss
746,521
(4)
6.7
%
96 Mowat Avenue
Toronto, ON M6K 3M1
(1)
Based on 11,185,384 shares outstanding as of March 17, 2014.
(2)
As disclosed on Form 4A, filed with the SEC on March 18, 2014 by Mr. Ralls. These shares are held by Lacuna
Hedge Fund LLLP (“Lacuna Hedge”) and are indirectly owned by Lacuna, LLC (“Lacuna LLC”) and Lacuna
Hedge GP LLLP (“Lacuna Hedge GP”). Lacuna LLC serves as the sole general partner of Lacuna Hedge GP,
which serves as the sole general partner of Lacuna Hedge. Neither Lacuna LLC nor Lacuna Hedge GP directly
owns any securities of the Issuer. Each of Lacuna LLC and Lacuna Hedge GP disclaims beneficial ownership of
the securities held by Lacuna Hedge, except to the extent of its pecuniary interest therein. Mr. Ralls is a member
of Lacuna LLC. Mr. Ralls disclaims beneficial ownership of the securities held by Lacuna Hedge, except to the
extent of his pecuniary interest therein.
(3)
As disclosed on Form 13G/A, filed with the SEC on February 12, 2014 by Mr. John H. Lewis. These shares are
held by Osmium Partners, LLC, a Delaware limited liability company (“Osmium Partners”), which serves as the
general partner of Osmium Capital, LP, a Delaware limited partnership (the “Fund”) and Osmium Capital II, LP,
a Delaware limited partnership (“Fund II”), Osmium Spartan, LP, a Delaware limited partnership (“Fund III”),
and Osmium Diamond, LP, a Delaware limited partnership (“Fund IV”) (all of the foregoing, collectively, the
“Filers”). The Fund, Fund II, Fund III and Fund IV are private investment vehicles formed for the purpose of
investing and trading in a wide variety of securities and financial instruments. The Fund, Fund II, Fund III and
Fund IV directly own the common shares reported in this Statement. Mr. Lewis and Osmium Partners may be
deemed to share with the Fund, Fund II, Fund III and Fund IV (and not with any third party) voting and
dispositive power with respect to such shares. Each Filer disclaims beneficial ownership with respect to any
shares other than the shares owned directly by such Filer.
(4)
As disclosed on Form 4, filed with the SEC on March 18, 2014 by Mr. Noss. Includes an aggregate of 124,036
shares of common stock that are held in Mr. Noss’s RRSP accounts. Includes 564,951 shares of Common Stock
that are subject to a loan and pledge arrangement entered into by Mr. Noss in order to satisfy the required
Canadian taxes and exercise price due in connection with the exercise of expiring options.
77