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QLTI > SEC Filings for QLTI > Form 8-K on 27-Nov-2013All Recent SEC Filings

Show all filings for QLT INC/BC

Form 8-K for QLT INC/BC


27-Nov-2013

Change in Directors or Principal Officers


Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On November 22, 2013, QLT Inc. (the "Company") granted to Alexander Lussow, the Company's Senior Vice President, Business Development and Commercial Operations, an option to purchase 100,000 common shares of the Company under the Company's 2000 Incentive Stock Plan at an exercise price equal to the closing price of the Company's common shares on the Toronto Stock Exchange on the date of grant. The option will vest in six monthly installments beginning on the first monthly anniversary of the date of grant and will expire on the earlier of ten years from the grant date or 90 days after termination of service.

In addition, on November 22, 2013, the Company granted to Jeffrey Meckler, the Chair of the Company's Executive Transition Committee, an option to purchase 225,000 common shares of the Company under the Company's 2000 Incentive Stock Plan at an exercise price equal to the closing price of the Company's common shares on the Toronto Stock Exchange on the date of grant. The option will vest in six monthly installments beginning on the first monthly anniversary of the date of grant and will expire on the earlier of ten years from the grant date or 90 days after termination of service. Upon a change in control of the Company, as defined in the option agreement, Mr. Meckler's option will become immediately vested and will be exercisable from the date of the change in control until the expiration of the option.


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