Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses TCX in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named TCX in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Elliot Noss | $410,980 | $0 | $0 | $42,300 | $133,008 | $0 | $2,555,164 | $3,141,452 |
| Former President and Chief Executive Officer | ||||||||
| David Woroch | 322,440 | 0 | 0 | 232,598 | 227,178 | 0 | 3,035 | 785,251 |
| Chief Executive Officer | ||||||||
| Ivan Ivanov | 406,000 | 0 | 0 | 169,252 | 177,292 | 0 | 14,600 | 767,144 |
| Chief Financial Officer | ||||||||
| Justin Reilly | 560,838 | 0 | 0 | 0 | 83,159 | 0 | 715 | 644,712 |
| Chief Executive Officer, Wavelo | ||||||||
| Bret Fausett | 350,000 | 0 | 0 | 10,566 | 154,362 | 0 | 14,600 | 529,528 |
| Chief Legal Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Elliot Noss | $3,141,452 | — | — | — |
| David Woroch | 785,251 | — | — | — |
| Ivan Ivanov | 767,144 | — | — | — |
| Justin Reilly | 644,712 | — | — | — |
| Bret Fausett | 529,528 | — | — | — |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Elliot Noss | OPTION | 2025-06-04 | — | — | — | — | $42,300 |
| Bret Fausett | OPTION | 2025-06-05 | — | — | — | — | 10,566 |
| David Woroch | OPTION | 2025-06-05 | — | — | — | — | 21,150 |
| Ivan Ivanov | OPTION | 2025-09-08 | — | — | — | — | 169,252 |
| David Woroch | OPTION | 2025-11-26 | — | — | — | — | 211,448 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Elliot Noss | $0 | $0 | $42,300 | 0.0% |
| Bret Fausett | 0 | 0 | 10,566 | 0.0% |
| David Woroch | 0 | 0 | 232,598 | 0.0% |
| Ivan Ivanov | 0 | 0 | 169,252 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Elliot Noss | RSU | 1,000,000 | — | $2,000,000 |
| Justin Reilly | RSU | 1,347,519 | — | 1,347,519 |
| Justin Reilly | RSU | 841,743 | — | 841,743 |
| Ivan Ivanov | RSU | 659,200 | — | 659,200 |
| Bret Fausett | RSU | 653,333 | — | 653,333 |
| Justin Reilly | RSU | 505,046 | — | 505,046 |
| Ivan Ivanov | RSU | 412,000 | — | 412,000 |
| Bret Fausett | RSU | 408,333 | — | 408,333 |
| Ivan Ivanov | RSU | 247,200 | — | 247,200 |
| Bret Fausett | RSU | 75,000 | — | 75,000 |
| David Woroch | RSU | 22,250 | — | 38,500 |
| Justin Reilly | RSU | 16,750 | — | 16,750 |
| Ivan Ivanov | RSU | 15,625 | — | 15,625 |
| Bret Fausett | RSU | 10,439 | — | 13,173 |
| Ivan Ivanov | RSU | 8,928 | — | 8,928 |
| Justin Reilly | RSU | 730 | — | 730 |
| David Woroch | Option | 2,500 | 41.97 | — |
| David Woroch | Option | 2,500 | 26.78 | — |
| David Woroch | Option | 11,250 | 20.59 | — |
| David Woroch | Option | 2,250 | 19.57 | — |
| David Woroch | Option | 20,000 | 21.58 | — |
| Ivan Ivanov | Option | 11,072 | 21.88 | — |
| Ivan Ivanov | Option | 20,000 | 17.38 | — |
| Justin Reilly | Option | 4,000 | 79.44 | — |
| Justin Reilly | Option | 1,250 | 41.97 | — |
| Bret Fausett | Option | 625 | 41.97 | — |
| Bret Fausett | Option | 1,299 | 26.78 | — |
| Bret Fausett | Option | 1,124 | 19.57 | — |
| Bret Fausett | Option | 2,675 | 20.59 | — |
| Bret Fausett | Option | 7,500 | 20.25 | — |
| Bret Fausett | Option | 25,000 | 6 | — |
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | — |
| Clawback policy | — |
| Anti-hedging | — |
| Anti-pledging | — |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-02 | 6,778,876 | 624,527 | 2,320 | 91.56% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-02 | 91.56%a |
a. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 13 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $75,493 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mr. TaylorIndependent · Audit (Chair) · Compensation | $47,250 | $0 | $90,588 | $0 | $0 | $137,838 |
| Mr. UhrenbacherIndependent · Governance · Compensation (Chair) | 47,250 | 0 | 80,095 | 0 | 0 | 127,345 |
| Mr. ToryIndependent · Audit | 47,250 | 0 | 69,602 | 0 | 0 | 116,852 |
| Mr. MathesonIndependent · Governance (Chair) · Compensation | 73,841 | 0 | 32,677 | 0 | 0 | 106,518 |
| Mr. NienaberIndependent · Board Chair · Compensation | 47,250 | 0 | 59,109 | 0 | 0 | 106,359 |
| Ms. CarlIndependent · Audit | 72,000 | 0 | 32,677 | 0 | 0 | 104,677 |
| Dr. MatzIndependent · Governance · Compensation | 38,045 | 0 | 59,109 | 0 | 0 | 97,154 |
| Elliot NossEmployee director · Departed during FY | 8,333 | 0 | 0 | 0 | 0 | 8,333 |
| Annual cash retainer | $50,000 |
|---|---|
| Annual equity retainer | — |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 15,000 / 15,000 |
| Stock ownership guideline | — |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $381,219 |
| Equity awards (grant-date value) | $0 |
| All other compensation | $0 |
| Total cost of the board | $381,219 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Tucows | 2025 | David Woroch | $322,440 | $0 | $232,598 | $227,178 | $785,251 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Elliot Noss | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation”. As printed: 3,141,452. Filing ↗machine: r18 · c21 · span 501107–501116 |
| 2 | Section 01, David Woroch | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation”. As printed: 785,251. Filing ↗machine: span 449912–449919 |
| 3 | Section 01, Ivan Ivanov | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation”. As printed: 767,144. Filing ↗machine: r6 · c21 · span 462793–462800 |
| 4 | Section 01, Justin Reilly | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation”. As printed: 644,712. Filing ↗machine: r10 · c21 · span 475449–475456 |
| 5 | Section 01, Bret Fausett | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation”. As printed: 529,528. Filing ↗machine: r14 · c21 · span 488223–488230 |
| 6 | Section 03, Elliot Noss OPTION | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 659575–659581 |
| 7 | Section 03, Bret Fausett OPTION | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 656017–656023 |
| 8 | Section 03, David Woroch OPTION | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 633311–633317 |
| 9 | Section 03, Ivan Ivanov OPTION | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 644368–644375 |
| 10 | Section 03, David Woroch OPTION | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 636945–636952 |
| 11 | Section 07, pay ratio | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “CEO Pay Ratio”. As printed: 13 : 1. Filing ↗ |
| 12 | Section 08, Mr. Taylor | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 137,838. Filing ↗ |
| 13 | Section 08, Mr. Uhrenbacher | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 127,345. Filing ↗ |
| 14 | Section 08, Mr. Tory | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 116,852. Filing ↗ |
| 15 | Section 08, Mr. Matheson | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 106,518. Filing ↗ |
| 16 | Section 08, Mr. Nienaber | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 106,359. Filing ↗ |
| 17 | Section 08, Ms. Carl | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 104,677. Filing ↗ |
| 18 | Section 08, Dr. Matz | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 97,154. Filing ↗ |
| 19 | Section 08, Elliot Noss | DEF 14A | 2026-04-23 | 0001437749-26-013073 | Section “Director Compensation”. As printed: 8,333. Filing ↗ |
| 20 | Section 06, 2026 vote | Form 8-K | 2026-06-04 | 0001437749-26-019571 | Item 5.07 · say-on-pay result. As reported: 91.56%. Filing ↗ |
| 21 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 22 | Section 09b board cost (computed) | Computed | — | computed | Cash 381,219 + equity 0 + all other 0 = 381,219, summed across the director compensation table rows.machine: formula: Σ = 381,219 |
| 23 | Tucows (subject), Section 10b CEO total | DEF 14A | 2026-04-23 | 0001437749-26-013073 | CEO total compensation as printed in Tucows's own proxy. As printed: 785,251. Filing ↗machine: span 449912–449919 |