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 OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

Walt Franz
2. Issuer Name and Ticker or Trading Symbol

Quotient Ltd [ QTNT ]
5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

__X__ Director                    _____ 10% Owner
__X__ Officer (give title below)    _____ Other (specify below)
Chief Executive Officer
(Last)          (First)          (Middle)

C/O QUOTIENT LIMITED, 28 ESPLANADE
3. Date of Earliest Transaction (MM/DD/YYYY)

9/24/2019
(Street)

ST HELIER, Y9 JE2 3QA
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. 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
Ordinary Shares  9/24/2019    M    7645  A  (1) 269648  D   

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. 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 7. Title and Amount of Securities Underlying Derivative Security
(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
Ordinary Share Option (Right to Buy)  $4.41                   (2) 2/19/2028  Ordinary Shares  22676    22676  D   
Ordinary Share Option (Right to Buy)  $4.71                   (3) 4/1/2028  Ordinary Shares  30000    30000  D   
Ordinary Share Option (Right to Buy)  $6.54                   (4) 10/31/2028  Ordinary Shares  45872    45872  D   
Ordinary Share Option (Right to Buy)  $7.54                   (5) 10/31/2028  Ordinary Shares  70000    70000  D   
Restricted Stock Units   (1) 9/24/2019    M        7645    (6)  (6) Ordinary Shares  7645  $0.00  61163  D   
Ordinary Share Option (Right to Buy)  $10.52                   (7) 7/16/2029  Ordinary Shares  28517    28517  D   

Explanation of Responses:
(1)  Restricted Stock Units convert into ordinary shares on a one-for-one basis.
(2)  7,558 options have vested and remain exercisable. 7,559 options will vest on February 19, 2020 and 7,559 options will vest on February 19, 2021.
(3)  10,000 options have vested and remain exercisable. 10,000 options will vest on April 1, 2020 and 10,000 options will vest on April 1, 2021.
(4)  22,936 options have vested and remain exercisable. 22,936 options will vest on May 24, 2020.
(5)  35,000 options have vested and remain exercisable. 35,000 options will vest on August 2, 2020.
(6)  On November 2, 2018, the Reporting Person was granted 91,743 restricted stock units. Of the 91,743 restricted stock units, 30,580 restricted stock units have vested and have been exercised. The remaining 61,163 restricted stock units will vest in eight equal installments on October 24, 2019, November 24, 2019, December 24, 2019, January 24, 2020, February 24, 2020, March 24, 2020, April 24, 2020 and May 24, 2020.
(7)  The options vest and become exercisable on May 24, 2020.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
Walt Franz
C/O QUOTIENT LIMITED
28 ESPLANADE
ST HELIER, Y9 JE2 3QA
X
Chief Executive Officer

Signatures
/s/ Franz Walt, by Allein Sabel his attorney in fact 9/24/2019
**Signature of Reporting Person Date


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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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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