X0306 4/A 2012-07-10 2012-07-12 0000827809 QLT INC/BC QLTI 0001424620 Thomas John C C/O QLT INC. 887 GREAT NORTHERN WAY, SUITE 101 VANCOUVER A1 V5T 4T5 BRITISH COLUMBIA, CANADA 1 0 0 0 Phantom Stock 2012-07-10 4 A 0 11000 0 A Common Stock 11000 11000 D Deferred stock units, which are payable only in cash. Each deferred stock unit is the economic equivalent of one share of common stock of the Issuer. 3,500 of the deferred stock units were granted to the Reporting Person in connection with the Reporting Person's appointment to the Board and the remaining deferred stock units relate to an annual grant of deferred stock units to Directors of the Issuer. The deferred stock units vest in thirty-six (36) successive and equal monthly installments measured from July 10, 2012, such that 100% of the deferred stock units will be fully vested on July 10, 2015. The deferred stock units have no fixed expiration date. Any vested deferred stock units are payable in cash upon the Reporting Person's departure from the Board of Directors of the Issuer, with any unvested deferred stock units expiring on such date. This amendment is being filed to correct an error in the CIK code of the Reporting Person which resulted in the incorrect name being listed as the Reporting Person when filed on EDGAR. The original Form 4 listed Cormatrix Cardiovascular Inc. as the Reporting Person. /s/ Dori C. Assaly, as attorney-in-fact 2012-07-18