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
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Tisdale Ed 		2. Issuer Name and Ticker or Trading Symbol

OTELCO INC. [ OTEL ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
SVP & GM, New England
(Last)          (First)          (Middle)

P.O. BOX 258 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/9/2017
(Street)

NEW GLOUCESTER, ME 04260
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Class A Common Stock   3/13/2017     M    9651   A   (1) 16100   D    
Class A Common Stock   3/13/2017     F    3638   D $6.25   12462   D    

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Restricted Stock Units     (1) 3/9/2017     A      10085         (2)   (2) Class A Common Stock   10085   $0   10085   D    
Restricted Stock Units     (1) 3/13/2017     M         3362      (2)   (2) Class A Common Stock   3362   $0   6723   D    
Restricted Stock Units     (1) 3/13/2017     M         3810      (3)   (3) Class A Common Stock   3810   $0   3810   D    
Restricted Stock Units     (1) 3/13/2017     M         2479      (4)   (4) Class A Common Stock   2479   $0   0   D    

Explanation of Responses:
( 1)  Each restricted stock unit ("RSU") represents a right to receive one share of Otelco Inc. Class A Common Stock.
( 2)  The RSUs vest in three installments: 3,362 RSUs vested on March 13, 2017; 3,362 RSUs vest on March 13, 2018; and 3,361 RSUs vest on March 12, 2019.
( 3)  The RSUs vest in three installments: 3,810 RSUs vested on March 14, 2016; 3,810 RSUs vested on March 13, 2017; and 3,810 RSUs vest on March 13, 2018.
( 4)  The RSUs vested in three installments: 2,478 RSUs vested on March 13, 2015; 2,478 RSUs vested on March 14, 2016; and 2,479 RSUs vested on March 13, 2017.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Tisdale Ed
P.O. BOX 258
NEW GLOUCESTER, ME 04260

SVP & GM, New England

Signatures
/s/ Curtis L. Garner, Jr., Attorney-in-Fact 3/13/2017
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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.
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