Meckler Jeffrey A Form 4 QLT / Jeffrey A Meckler ownership change

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

Meckler Jeffrey A

(Last) (First) (Middle)

C/O QLT INC.

887 GREAT NORTHERN WAY, SUITE 250

(Street)

VANCOUVER A1 V5T 4T5

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
QLT INC/BC [ QLTI ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/17/2016

4. If Amendment, Date of Original Filed (Month/Day/Year)

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. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction 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

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction 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 (Month/Day/Year)		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: 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
Stock Option (right to buy)	$1.43(1)	06/17/2016		A		50,000		(2)	06/17/2026	Common stock	50,000	$0	50,000	D
Phantom Stock(3)	(4)	06/17/2016		A		6,400		(5)	(6)	Common stock	6,400	$0	28,400(7)	D

Explanation of Responses:

1. Option exercise price reflects the closing price of the Issuer's common stock on the NASDAQ Stock Market on the June 17, 2016 grant date.

2. The options vest and become exercisable in thirty-six (36) successive and equal monthly installments from the June 17, 2016 grant date. These options were awarded pursuant to the Issuer's 2000 Incentive Stock Plan, as amended and restated.

3. Deferred Stock Units ("DSUs") are payable in cash. The DSUs were awarded pursuant to the Issuer's Directors' Deferred Share Unit Plan.

4. Each DSU, when converted to cash, will be equivalent to the market value of one share of the Issuer's common stock at the time the conversion takes place.

5. The DSUs vest in thirty-six (36) successive and equal monthly installments beginning on the first day of the first month after the June 17, 2016 grant date.

6. The DSUs have no fixed expiration date. Any vested DSUs are payable in cash upon the Reporting Person's departure from the Board of Directors of the Issuer, with any unvested DSUs expiring on such date.

7. Reflects the aggregate amount of DSUs granted to the Reporting Person to date, of which 21,694 DSUs have vested.

	/s/ Dori Assaly, as Attorney-in-Fact	06/21/2016
	** 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).
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