Ownership Submission
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

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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(Print or Type Responses)
1. Name and Address of Reporting Person *
Battery Management Corp.
  2. Issuer Name and Ticker or Trading Symbol
Q2 Holdings, Inc. [QTWO]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) __X__ Other (specify below)
Former 10% Owner
(Last)
(First)
(Middle)
ONE MARINA PARK DRIVE, SUITE 1100, 
3. Date of Earliest Transaction (Month/Day/Year)
09/30/2015
(Street)

BOSTON, MA 02210
4. If Amendment, Date Original Filed(Month/Day/Year)
6. Individual or Joint/Group Filing(Check Applicable Line)
___ Form filed by One Reporting Person
_X_ 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 (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 Stock 09/30/2015   S   557,185 (1) D $ 24.3525 3,254,998 (2) I See footnote (1)

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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
(Month/Day/Year)
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

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Battery Management Corp.
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
Agrawal Neeraj
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
CROTTY THOMAS J
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
Feldman Jesse
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
FRISBIE RICHARD D
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
LAWLER KENNETH P
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
Lee Roger H
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
TABORS R DAVID
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner
TOBIN SCOTT R
C/O BATTERY VENTURES
ONE MARINA PARK DRIVE, SUITE 1100
BOSTON, MA 02210
      Former 10% Owner

Signatures

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Battery Management Corp.)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Neeraj Agrawal)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Thomas J. Crotty)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Jesse R. Feldman)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Richard D. Frisbie)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Kenneth P. Lawler)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Roger H. Lee)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of R. David Tabors)   10/01/2015
**Signature of Reporting Person Date

 /s/ Christopher Schiavo (acting as attorney-in-fact on behalf of Scott R. Tobin)   10/01/2015
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Consists of 551,670 shares sold by Battery Ventures IX, L.P. ("Battery Ventures IX") and 5,515 shares sold by Battery Investment Partners IX, LLC ("BIP IX"). Battery Partners IX, LLC ("BP IX") is the sole general partner of Battery Ventures IX and the sole managing member of BIP IX. BP IX's investment advisor is Battery Management Corp. (together with BP IX, the "Battery Companies"). Neeraj Agrawal, Michael Brown, Thomas J. Crotty, Jesse Feldman, Richard D. Frisbie, Kenneth P. Lawler, Roger H. Lee, R. David Tabors and Scott R. Tobin are the managing members and officers of the Battery Companies and may be deemed to share voting and dispositive power over the shares held by Battery Ventures IX and BIP IX.
(2) The Reporting Persons disclaim beneficial ownership of these securities except to the extent of their pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of all of the reported securities for purposes of Section 16 or for any other purpose.
 
Remarks:
Prior to the transaction reported hereby, the reporting persons beneficially owned more than 10% of a class of the Issuer's equity securities registered under Section 12 of the Exchange Act. Due to the limited number of joint filers that can be included on one form, Battery Ventures IX, L.P., Battery Investment Partners IX, LLC, Battery Partners IX, LLC, Battery Management Corp., Neeraj Agrawal, Thomas J. Crotty, Jesse Feldman, Richard D. Frisbie, Kenneth P. Lawler, R. David Tabors, Scott R. Tobin and Roger H. Lee have filed two separate forms simultaneously, both of which relate to the same securities of the Issuer beneficially owned by such reporting persons. Michael Brown is a director of the Issuer and files Section 16 reports separately.

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