X0306 4 2012-08-03 0000827809 QLT INC/BC QLTI 0001554591 Jagpal Sukhi C/O QLT INC. 887 GREAT NORTHERN WAY, SUITE 101 VANCOUVER A1 V5T 4T5 BRITISH COLUMBIA, CANADA 0 1 0 0 Interim CFO Common stock 2012-08-03 4 M 0 20000 3.74 A 21200 D Common stock 2012-08-03 4 M 0 15000 2.44 A 36200 D Common stock 2012-08-03 4 M 0 12000 6.28 A 48200 D Common stock 2012-08-03 4 M 0 20000 7.21 A 68200 D Common stock 2012-08-03 4 S 0 67000 8.19 D 1200 D Employee Stock Options (right to buy) 3.74 2012-08-03 4 M 0 20000 0 D 2013-05-17 Common Stock 20000 0 D Employee Stock Options (right to buy) 2.44 2012-08-03 4 M 0 15000 0 D 2014-05-04 Common Stock 15000 0 D Employee Stock Options (right to buy) 6.28 2012-08-03 4 M 0 12000 0 D 2015-05-21 Common Stock 12000 0 D Employee Stock Options (right to buy) 7.21 2012-08-03 4 M 0 20000 0 D 2016-05-25 Common Stock 20000 0 D Price reflects the conversion of Canadian dollars to US dollars based on the noon exchange rate published by the Bank of Canada on the date of the reportable event. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from US $8.12 to US $8.39 inclusive. The reporting person undertakes to provide to any security holder of QLT, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the ranges set forth in this footnote. The option vested in 36 equal monthly installments measured from May 17, 2008 and became fully exercisable on May 17, 2011. The option vested in 36 equal monthly installments measured from May 4, 2009 and became fully exercisable on May 4, 2012. The option originally providing for vesting in 36 equal monthly installments measured from May 21, 2010. However, in connection with a change in control of the Company (as defined in the option agreement), the unvested shares under such option were accelerated and became fully exercisable on June 4, 2012. The option originally provided for vesting in 36 equal monthly installments measured from May 25, 2011. However, in connection with a change in control of the Company (as defined in the option agreement), the unvested shares under such option were accelerated and became fully exercisable on June 4, 2012. /s/ Sukhi Jagpal 2012-08-07