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# Q2 Holdings Promotes CFO Jonathan Price To Co-CEO, With A $3 Million Stock Grant
- URL: https://www.bullished.co/q2-holdings-promotes-cfo-jonathan-price-to-co-ceo-with-a-3-million-stock-grant-48cd8aa2/
- Published: 2026-10-28T20:47:50.000Z
- Updated: 2026-10-28T20:47:50.000Z
- Description: Price keeps the CFO job during a successor search, joins an eight-member board and gets Matt Flake's severance terms.
- Author: Matteo Parrino
- Tags: Earnings, QTWO, Industry: Technology

Q2 Holdings, which sells cloud-based digital banking software to banks, credit unions and fintechs, [promoted Chief Financial Officer Jonathan Price to co-CEO](https://www.sec.gov/Archives/edgar/data/0001410384/000141038426000063/qtwo-20261028.htm?ref=bullished.co) alongside Matt Flake, the company said Wednesday. The change takes effect Thursday, October 29, and Flake stays president and chairman.

## Two jobs and a board seat

Price, 43, will keep serving as CFO, the company's principal financial and accounting officer, while Q2 searches for a replacement. The board also grew from seven seats to eight to make room for him, and his initial term runs to the 2027 annual meeting of stockholders. He gets no extra pay for serving as a director.

Flake keeps his current roles, and his pay arrangements did not change with the co-CEO structure, the filing says.

## Pay raise and Flake-level severance

Price's base salary rises to $520,000\. He also gets restricted stock units, a promise of company shares, valued at $3,000,000, with the share count set from the five-day average closing price around the grant date. They vest over four years: 25% at about the one-year mark, then the rest in equal quarterly installments.

His severance now matches the terms in Flake's 2021 agreement. If Q2 fires him without cause, it owes 200% of base salary paid over 24 months, plus a pro-rated target bonus, and COBRA health-coverage payments for up to 24 months.

If he is fired without cause or resigns for good reason from 60 days before to 24 months after a change in control, the payout becomes a lump sum of 250% of base salary plus a pro-rated bonus, all time-based equity vests immediately, and COBRA coverage runs for up to 30 months.

## A deal-maker turned finance chief

Price joined Q2 in 2018 as a senior vice president of corporate development, after investment banking jobs at BMO Capital Markets, Citi and Goldman Sachs. He became CFO in November 2024, having been executive vice president of strategy and emerging businesses from September 2023.

Flake called Price "a driving force behind Q2's strategy, financial discipline, and growth for nearly a decade," according to the [press release](https://www.sec.gov/Archives/edgar/data/0001410384/000141038426000063/a20281028exhibit991.htm?ref=bullished.co). Price said the company has "expanded our margins, strengthened our balance sheet, and sharpened our capital allocation."

Q2's platform serves more than 1,200 financial institutions, according to its latest annual report, with Helix, its banking-as-a-service platform, among its products.

Price stays CFO until Q2 names a successor.

Learn

- [Item 5.02: directors and officers leave or join, or executive pay is set →](https://www.bullished.co/learn/8-k-items-explained/#item-502-directors-and-officers-leave-or-join-or-executive-pay-is-set)  
From 8-K Items Explained: What Every Item Code From 1.01 To 9.01 Tells You, With Examples

### Sources

- [8-K Filing — Q2 Holdings, Inc. (QTWO)](https://www.sec.gov/Archives/edgar/data/0001410384/000141038426000063/qtwo-20261028.htm?ref=bullished.co) — SEC EDGAR
- [Exhibit a20281028exhibit991.htm — Q2 Holdings, Inc. 8-K exhibit](https://www.sec.gov/Archives/edgar/data/0001410384/000141038426000063/a20281028exhibit991.htm?ref=bullished.co) — SEC EDGAR