Q2 Holdings, Inc. — Director's Dealing 2017

May 26, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Q2 Holdings, Inc. (QTWO)
CIK: 0001410384
Period of Report: 2017-05-24

Reporting Person: Furrer William M (Chief Strategy Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-05-24	Common Stock	M	1666	$7.48	Acquired	53280	Direct
2017-05-24	Common Stock	M	12105	$8.35	Acquired	65385	Direct
2017-05-24	Common Stock	S	13771	$39.92	Disposed	51614	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-05-24	Stock Option (right to buy)	$7.48	M	1666	Disposed	2020-05-08	Common Stock (1666.0)	Direct
2017-05-24	Stock Option (right to buy)	$8.35	M	12105	Disposed	2021-01-24	Common Stock (12105.0)	Direct

Footnotes

F1: Shares sold pursuant to Reporting Person's 10b5-1 Trading Plan.

F2: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $39.70 to $40.20 inclusive. Reporting Person undertakes to provide to Q2 Holdings, Inc., any security holder of Q2 Holdings, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F3: This option grant vested as to 1/4 of the total option grant on February 1, 2014, and thereafter as to 1/48 of the total option grant monthly. The option grant becomes exercisable as it vests.

F4: This option grant vested as to 1/4 of the total option grant on January 24, 2016, and thereafter as to 1/32 of the total option grant monthly. The option grant becomes exercisable as it vests.