Sec Form 4 Filing - Muller Lorenz @ Milestone Pharmaceuticals Inc. - 2019-10-01

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 Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Muller Lorenz 2. Issuer Name and Ticker or Trading Symbol Milestone Pharmaceuticals Inc. [ MIST] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) _____ Director _____ 10% Owner X __ Officer (give title below) _____ Other (specify below) Chief Commercial Officer (Last) (First) (Middle) C/O MILESTONE PHARMACEUTICALS INC., 1111 DR. FREDERIK-PHILIPS BLVD, STE 420 3. Date of Earliest Transaction (MM/DD/YY) 10/01/2019 (Street) MONTR?AL, A8H4M 2X6 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 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 Common Shares 10/01/2019 M 2,500 A $ 1.54 52,115 D Common Shares 04/03/2020 M 32,528 A $ 1.54 84,643 D Common Shares 04/03/2020 M 18,043 A $ 1.54 102,686 D

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 (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 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 (MM/DD/YY) 7. Title and Amount of Underlying Securities (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 Employee Stock Option (right to buy) $ 1.54 10/01/2019 M 2,500 ( 1 ) 10/11/2027 Common Shares 2,500 $ 0 87,982 D Employee Stock Option (right to buy) $ 1.54 04/03/2020 M 32,528 ( 1 ) 10/11/2027 Common Shares 32,528 $ 0 55,454 D Employee Stock Option (right to buy) $ 1.54 04/03/2020 M 18,043 ( 2 ) 10/15/2028 Common Shares 18,043 $ 0 32,903 D Employee Stock Option (right to buy) $ 3.74 06/05/2020 A 35,000 ( 3 ) 06/05/2030 Common Shares 35,000 $ 0 35,000 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Muller Lorenz C/O MILESTONE PHARMACEUTICALS INC. 1111 DR. FREDERIK-PHILIPS BLVD, STE 420 MONTR?AL, A8H4M 2X6 Chief Commercial Officer Signatures /s/ Eric Popp, Attorney-in-Fact 06/08/2020 Signature of Reporting Person Date

Explanation of Responses:

( 1 )The original grant was for 140,100 option shares. Twenty-five percent (25%) of the shares subject to the option vested on October 11, 2018, andone thirty-sixth (1/36th) of the remaining shares subject to the option vested or shall vest each month thereafter, subject to the Reporting Personcontinuing to provide service through each such date. ( 2 )The original grant was for 50,946 option shares. Twenty-five percent (25%) of the shares subject to the option shall vest on October 15, 2019, and one thirty-sixth (1/36th) of the remainingshares subject to the option shall vest each month thereafter, subject to the Reporting Person continuing to provide service through each suchdate. ( 3 )The shares subject to this option shall vest in twenty-four (24) equal monthly installments commencing on July 5, 2020, subject to the recipient continuing to provide service to the Issuer through each such 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).

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