Mukkamala Himagiri K 4
4 · Q2 Holdings, Inc. · Filed Mar 13, 2026
Research Summary
AI-generated summary of this filing
Q2 (QTWO) COO Mukkamala Himagiri K Receives 77,088-Share Award
What Happened
- Mukkamala Himagiri K, Chief Operating Officer of Q2 Holdings, received awards totaling 77,088 restricted/performance stock units (RSUs/PSUs) on March 11, 2026. The grants were reported on a Form 4 filed March 13, 2026. All units were granted at $0.00 acquisition price (awards, not purchases).
- Grant breakdown (per filing): 38,544 time-based RSUs and three performance-based grants of 15,418, 15,418 and 7,708 units respectively. These are either time-vested RSUs or target amounts for performance-based RSUs (PSUs) — vesting and final payout depend on continued employment and attainment of specified performance goals.
Key Details
- Transaction date: March 11, 2026; Form 4 filed March 13, 2026 (filed within the typical 2-business-day window).
- Price: $0.00 (award/grant).
- Total units granted/targeted: 77,088 shares.
- Shares owned after transaction: Not reported in the provided filing.
- Footnote summaries:
- F1 (38,544 units): Time-based RSUs — 25% vest starting March 3, 2027, remaining vest in equal quarterly installments over the following three years, subject to continued employment.
- F2 (15,418 units): PSU tied to Adjusted EBITDA as a % of Revenue for the 12 months ending Dec 31, 2027; attainment measured on the second anniversary; up to 100% vests on year 2, above-target may vest on year 3.
- F3 (15,418 units): PSU tied to Subscription Revenue year-over-year growth for the 12 months ending Dec 31, 2027; same timing/vesting rules as F2.
- F4 (7,708 units): PSU tied to relative stock performance vs. the S&P Software & Services Select Index; attainment measured on the third anniversary with 0%–200% payout possible.
- These performance grants are reported as "target amounts" (actual shares earned may be lower or higher depending on results).
Context
- These grants are compensation awards (not open-market purchases or sales). Such awards are common as long-term incentive pay and do not by themselves indicate the insider is buying or selling stock. Performance-based units create a payout range contingent on meeting specific financial or market-relative targets, and time-based RSUs vest over multiple years to encourage retention.
Insider Transaction Report
Form 4
Mukkamala Himagiri K
Chief Operating Officer
Transactions
- Award
Common Stock
[F1]2026-03-11+38,544→ 131,454 total - Award
Common Stock
[F2]2026-03-11+15,418→ 146,872 total - Award
Common Stock
[F3]2026-03-11+15,418→ 162,290 total - Award
Common Stock
[F4]2026-03-11+7,708→ 169,998 total
Footnotes (4)
- [F1]The restricted stock units vest 25% starting March 3, 2027, with the remaining units vesting in equal quarterly installments over the subsequent three years.
- [F2]Represents the target number of shares that may be earned ("Target Amount") pursuant to performance-based restricted stock units ("Units") under the 2023 Equity Incentive Plan, with vesting dependent upon Q2's attainment relative to a target performance metric for Adjusted EBITDA as a percentage of Revenue for the 12 months ending December 31, 2027, as more specifically set forth in the grant agreement. Subject to continued employment, attainment will be determined on the second anniversary of the date of grant, with any earned shares up to 100% of the Target Amount vesting on such date, and any shares issuable pursuant to above-target attainment vesting on the third anniversary of the grant date.
- [F3]Represents the target number of shares that may be earned ("Target Amount") pursuant to performance-based restricted stock units ("Units") under the 2023 Equity Incentive Plan, with vesting dependent upon Q2's attainment relative to a target performance metric for Subscription Revenue Year over Year Growth Revenue for the 12 months ending December 31, 2027, as more specifically set forth in the grant agreement. Subject to continued employment, attainment will be determined on the second anniversary of the date of grant, with any earned shares up to 100% of the Target Amount vesting on such date, and any shares issuable pursuant to above-target attainment vesting on the third anniversary of the grant date.
- [F4]Represents the target number of shares that may be earned ("Target Amount") pursuant to performance-based restricted stock units ("Units") under the 2023 Equity Incentive Plan, with vesting dependent upon Q2's attainment relative to target performance of Q2's common stock price as compared to the S&P Software & Services Select Index, as more specifically set forth in the grant agreement. Subject to continued employment, attainment will be determined on the third anniversary of the date of grant, with 0% to 200% of the Target Amount vesting on such date depending on the level of attainment.
Signature
/s/ M. Scott Kerr, attorney-in-fact|2026-03-13