X0306 4 2016-06-17 0 0000827809 QLT INC/BC QLTI 0001506916 Meckler Jeffrey A C/O QLT INC. 887 GREAT NORTHERN WAY, SUITE 250 VANCOUVER A1 V5T 4T5 BRITISH COLUMBIA, CANADA 1 0 0 0 Stock Option (right to buy) 1.43 2016-06-17 4 A 0 50000 0 A 2026-06-17 Common stock 50000 50000 D Phantom Stock 2016-06-17 4 A 0 6400 0 A Common stock 6400 28400 D 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. 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. Deferred Stock Units ("DSUs") are payable in cash. The DSUs were awarded pursuant to the Issuer's Directors' Deferred Share Unit Plan. 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. 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. 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. 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 2016-06-21