Sec Form 4 Filing - Sabba Stephen L @ QLT INC/BC - 2015-06-29

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 Sabba Stephen L 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) (Last) (First) (Middle) C/O QLT INC., 887 GREAT NORTHERN WAY, SUITE 250 3. Date of Earliest Transaction (MM/DD/YY) 06/29/2015 (Street) VANCOUVER, A1V5T 4T5 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 06/29/2015 M 12,500 A $ 3.67 ( 1 ) 24,500 D Common Shares 06/29/2015 M 12,500 A $ 3.3 ( 2 ) 37,000 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 Stock Option (right to buy) $ 3.67 ( 1 ) 06/29/2015 M 12,500 ( 3 ) 07/15/2023 Common Shares 12,500 $ 0 0 D Stock Option (right to buy) $ 3.3 ( 2 ) 06/29/2015 M 12,500 ( 4 ) 12/17/2024 Common Shares 12,500 $ 0 0 D

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Sabba Stephen L C/O QLT INC. 887 GREAT NORTHERN WAY, SUITE 250 VANCOUVER, A1V5T 4T5 X Signatures Dori Assaly, as Attorney-in-Fact 07/01/2015 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Price reflects the conversion of Canadian dollars to US dollars based on the exchange rate in effect as of the date of the reportable event. The option exercise price is CAD $4.54 per share, which was the closing price of the Issuer's common stock on the Toronto Stock Exchange as of the date of grant. ( 2 )Price reflects the conversion of Canadian dollars to US dollars based on the exchange rate in effect as of the date of the reportable event. The option exercise price is CAD $4.08 per share, which was the closing price of the Issuer's common stock on the Toronto Stock Exchange as of the date of grant. ( 3 )The options were scheduled to vest and become exercisable in thirty-six (36) successive and equal monthly installments beginning on the one-month anniversary of the date of grant (or August 15, 2013), such that 100% of the options would be fully vested on July 15, 2016. On June 7, 2015, the Board of Directors of QLT approved the immediate vesting of all stock options held by the Reporting Person. ( 4 )The options were scheduled to vest and become exercisable in thirty-six (36) successive and equal monthly installments beginning on the one-month anniversary of the date of grant (or January 17, 2015), such that 100% of the options would be fully vested on December 17, 2017. On June 7, 2015, the Board of Directors of QLT approved the immediate vesting of all stock options held by the Reporting Person.

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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