Statement of Changes in Beneficial Ownership - Form 4

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. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person * Diehl Jeffrey T 2. Issuer Name and Ticker or Trading Symbol Q2 Holdings, Inc. [QTWO] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) __X__ Director _____ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) 1 NORTH WACKER DRIVE , SUITE 2700 3. Date of Earliest Transaction (Month/Day/Year) (Street) CHICAGO IL 60606 4. If Amendment, Date Original Filed(Month/Day/Year) 6. Individual or Join/Group Filing(Check Applicable Line) _X_ Form filed by One Reporting Person ___ 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 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code 4. Securities Acquired (A) or Disposed of (D) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) 6. Ownership Form: Direct (D) or Indirect (I) 7. Nature of Indirect Beneficial Ownership Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
(e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivate Security	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	5. Number of Derivative Securities Acquired (A) or Disposed of (D)	6. Date Exercisable and Expiration Date	7. Title and Amount of Securities Underlying Derivative Security	8. Price of Derivative Security	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s)	10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)	11. Nature of Indirect Beneficial Ownership
Code	V	(A)	(D)	Date Exercisable	Expriation Date	Title	Amount or Number of Shares

Reporting Owners

Reporting Owner Name / Address	Relationships
Director	10% Owner	Officer	Other
Diehl Jeffrey T 1 NORTH WACKER DRIVE SUITE 2700 CHICAGO, IL60606	X

Signatures

/s/ M. Scott Kerr, attorney-in-fact	2024-08-22
**Signature of Reporting Person	Date

Explanation of Responses:

(*)	If the form is filed by more than one reporting person, see Instruction 5(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)	Represents 7,096 shares sold by Adams Street 2006 Direct Fund, L.P., or AS 2006, 8,014 shares sold by Adams Street 2007 Direct Fund, L.P., or AS 2007, 2,685 shares sold by Adams Street 2008 Direct Fund, L.P., or AS 2008, 2,322 shares sold by Adams Street 2009 Direct Fund, L.P., or AS 2009, 1,319 shares sold by Adams Street 2010 Direct Fund, L.P., or AS 2010, 1,060 shares sold by Adams Street 2011 Direct Fund LP, or AS 2011, 84 shares sold by Adams Street Partnership Fund-2007 U.S. Fund, L.P., or AS 2007 US, 108 shares sold by Adams Street Partnership Fund-2008 U.S. Fund, L.P., or AS 2008 US, 96 shares sold by Adams Street Partnership Fund-2009 U.S. Fund, L.P., or AS 2009 US, 67 shares sold by Adams Street Partnership Fund-2010 U.S. Fund, L.P., or AS 2010 US, and 15 shares sold by Adams Street Partnership Fund-2010 U.S. Fund Series B, L.P., or AS 2010 US Series B.
(2)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $72.23 to $73.59 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.
(3)	Represents 158,156 shares held by AS 2006, 178,603 shares held by AS 2007, 59,837 shares held by AS 2008, 51,754 shares held by AS 2009, 29,398 shares held by AS 2010, 23,619 shares held by AS 2011, 1,873 shares held by AS 2007 US, 2,402 shares held by AS 2008 US, 2,130 shares held by AS 2009 US, 1,502 shares held by AS 2010 US, and 334 shares held by AS 2010 US Series B.
(4)	Jeffrey T. Diehl disclaims beneficial ownership of the Shares except to the extent of his pecuniary interest therein.
(5)	The shares owned by each of AS 2006, AS 2007, AS 2008, AS 2009, AS 2010, AS 2011, AS 2007 US, AS 2008 US, AS 2009 US, AS 2010 US, and AS 2010 US Series B may be deemed to be beneficially owned by Adams Street Partners, LLC, the managing member of the general partner of each of AS 2006, AS 2007, AS 2008, AS 2009 and AS 2010, the managing member of the general partner of the general partner of AS 2011, and the general partner of AS 2007 US, AS 2008 US, AS 2009 US, AS 2010 US, and AS 2010 US Series B. Jeffrey T. Diehl is a partner of Adams Street Partners, LLC (or a subsidiary thereof), and may be deemed to share voting and dispositive power over the shares held by AS 2006, AS 2007, AS 2008, AS 2009, AS 2010, AS 2011, AS 2007 US, AS 2008 US, AS 2009 US, AS 2010 US, and AS 2010 US Series B.
(6)	Represents 9,123 shares sold by AS 2006, 10,304 shares sold by AS 2007, 3,452 shares sold by AS 2008, 2,986 shares sold by AS 2009, 1,696 shares sold by AS 2010, 1,363 shares sold by AS 2011, 108 shares sold by AS 2007 US, 138 shares sold by AS 2008 US, 123 shares sold by AS 2009 US, 87 shares sold by AS 2010 US, and 19 shares sold by AS 2010 US Series B.
(7)	The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $71.96 to $73.17 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.
(8)	Represents 149,033 shares held by AS 2006, 168,299 shares held by AS 2007, 56,385 shares held by AS 2008, 48,768 shares held by AS 2009, 27,702 shares held by AS 2010, 22,256 shares held by AS 2011, 1,765 shares held by AS 2007 US, 2,264 shares held by AS 2008 US, 2,007 shares held by AS 2009 US, 1,415 shares held by AS 2010 US, and 315 shares held by AS 2010 US Series B.
(9)	By agreement with AS 2006, AS 2007, AS 2008, AS 2009, AS 2010, and AS 2011 (each as defined in footnote 1, and collectively, the "Funds"), Mr. Diehl is deemed to hold the stock for the benefit of the Funds.

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