8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 24, 2015

Qlik Technologies Inc.

(Exact name of registrant as specified in its charter)

Delaware	001-34803	20-1643718
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

150 N. Radnor Chester Road Suite E220 Radnor, Pennsylvania	19087
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code: (888) 828-9768

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

(b) On August 24, 2015, Qlik Technologies Inc. (“Qlik” or the “Company”) issued a press release announcing that Leslie Bonney has transitioned from his position as the Company’s Chief Operating Officer to the new role as Chief Strategy Officer. In this new role, Mr. Bonney is expected to identify market opportunities in the visual analytics industry as the Company continues to plan for long-term success. To fill Mr. Bonney’s sales leadership role, Mark C. Thurmond, 45, will join Qlik as EVP, Worldwide Sales and Services, effective August 24, 2015. Mr. Thurmond will be responsible for global sales, both direct and through Qlik’s partner network, including alliances with system integrators and technology partners. He will also lead consulting services, training and education, and technical support organizations to ensure customer success. Both Mr. Bonney and Mr. Thurmond are members of the Qlik executive team, reporting to the Chief Executive Officer. A copy of Qlik’s press release is attached hereto as Exhibit 99.1 and is hereby incorporated by reference herein.

Under his offer letter, Mr. Thurmond will be paid an annual base salary of $475,000, subject to adjustment pursuant to Qlik’s employee compensation policies in effect from time to time. Additionally, Mr. Thurmond will be eligible for an annual target bonus equal to $475,000 which will be prorated for 2015. Mr. Thurmond will also be eligible to participate in any executive long-term executive program approved by Qlik’s Board of Directors (the “Board”) or the Compensation Committee of the Board (the “Compensation Committee”).

Pursuant to Mr. Thurmond’s offer letter, and subject to approval by the Company’s Compensation Committee, he will be granted a non-qualified stock option to purchase 230,000 shares of Qlik’s Common Stock at an exercise price determined on the date of grant pursuant to the Company’s grant-dating policy. The option will become exercisable with respect to 25% of the shares after 12 months of continuous service with Qlik, with the balance becoming exercisable in equal quarterly installments over the next 3 years of continuous service thereafter. Mr. Thurmond will vest 100% in his shares, if during his service with Qlik, Qlik is subject to a change in control and Mr. Thurmond’s service with Qlik is terminated without cause within 12 months of a change in control. In addition, he will be granted an award of 65,000 performance-based restricted stock units (“PBRSU”). His ability to earn the PBRSU is dependent upon him satisfying the performance metrics and objectives determined by management and agreed by the Compensation Committee. Subject to satisfaction of such metrics and objectives which will be measured by August 24, 2016, the PBRSU will vest 50% on each of September 1, 2016 and September 1, 2017. If the performance metrics and objectives set by the Compensation Committee are not satisfied, the PBRSU shall be forfeited prior to any vesting.

If Qlik terminates Mr. Thurmond’s employment for any reason other than cause, Mr. Thurmond will receive the following severance benefits following termination: (a) his base salary for 6 months (the “Continuation Period”), payable in accordance with Qlik’s standard payroll procedures, (b) his prorated bonus amount (to the extent that applicable individual and company performance goals are deemed by the Board to have been met during the applicable bonus period) based on the number of days that he was employed during the year in which termination occurs and (c) payment of his monthly COBRA health insurance premiums until the earliest of (i) the close of the Continuation Period, (ii) the expiration of his continuation coverage under COBRA and (iii) the date when he is offered substantially equivalent health insurance coverage in connection with new employment or self-employment. Additionally, Mr. Thurmond is eligible to additional severance benefits under Qlik’s Executive Severance Plan if he is subject to an involuntary termination of employment following a change of control, as defined in the Executive Severance Plan. All such severance benefits are subject to, among other conditions, Mr. Thurmond executing a general release of claims in favor of Qlik.

Prior to joining Qlik, Mr. Thurmond, age 45, was employed by EMC Corp. from August 2000 until August 2015 where he held a number of executive positions, most recently Senior Vice President, Global Sales of VCE, where he was responsible for all aspects of VCE’s Sales organization from strategy, go-to-market, channels, to executing against the revenue goals of the company. Prior to EMC, he worked for Parametric Technology Corporation, a provider of product life cycle management software solutions, where he held numerous executive sales management positions. Mr. Thurmond holds a B.A. in Psychology from Hofstra University.

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A copy of Mr. Thurmond’s offer letter will be filed as an exhibit to Qlik’s Quarterly Report on Form 10-Q for the fiscal quarter ended September 30, 2015, which will be filed with the SEC in the fourth quarter of 2015. The foregoing description of Mr. Thurmond’s offer letter is qualified in its entirety by reference to the full text of such exhibit. Mr. Thurmond and Qlik will also enter into an indemnification agreement requiring Qlik to indemnify him to the fully extent permitted under Delaware law with respect to his service as an officer of Qlik. The indemnification agreement will be substantially in the form entered into with Qlik’s other executive officers. This form of indemnification agreement is filed as Exhibit 10.45 to Qlik’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2013 (SEC File No. 001-34803) filed on August 2, 2013.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No.	Description
99.1	Press release of Qlik Technologies Inc. dated August 24, 2015.

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SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

QLIK TECHNOLOGIES INC.
By:	/s/ Timothy J. MacCarrick
	Name: Timothy J. MacCarrick
	Title: Chief Financial Officer and Treasurer

Dated: August 24, 2015

EX-99.1

Exhibit 99.1

August 24, 2015

Qlik Appoints Les Bonney to Chief Strategy Officer and Mark Thurmond to Executive Vice President, Worldwide Sales and Services

Bonney Takes on New Role and Former EMC Executive Thurmond Joins to Lead Global Sales and Services

RADNOR, Pa.—(BUSINESS WIRE)— Qlik® (NASDAQ: QLIK), a leader in visual analytics, today announced Les Bonney will take on a new role as Chief Strategy Officer to identify additional market opportunities in the visual analytics industry as the company continues to plan for long-term success. To fill Bonney’s sales leadership role as he transitions, industry veteran Mark Thurmond joins Qlik as Executive Vice President, Worldwide Sales and Services, responsible for global sales, both direct and through Qlik’s expansive partner network, including alliances with system integrators and technology partners. He will also lead consulting services, training and education, and technical support organizations to ensure customer success. Both Bonney and Thurmond are members of the Qlik executive team, reporting to the CEO.

“As we continue to scale the organization, we are adding greater depth to our already strong leadership team and evolving our operational and organizational approach to include a greater emphasis on longer-term strategy planning,” said Lars Bjork, CEO. “I look forward to leveraging Les’ extensive customer experience in his new role. His strengths in strategy planning and understanding of the market will help Qlik remain a leader in visual analytics.”

Thurmond joins as a global tech industry veteran bringing a track record of rapid revenue growth and expansion to Qlik. He previously served as Senior Vice President, Global Sales of VCE, an EMC Company focused on accelerating adoption of converged infrastructure and cloud-based computing. Thurmond has experience in go to market execution for all channels in high growth markets. He previously held positions as SVP Worldwide Sales, RSA, the security division of EMC, and other global sales leadership positions within EMC. Prior to that, he was VP of Sales at PTC helping drive the company’s revenue from $300 million to $1 billion dollars.

“I’m excited to be joining Qlik at such a great time of momentum. With my background in infrastructure and applications I was on the front lines of the big data explosion and saw first-hand the need to make stored data useful data. Qlik provides the essential visual analytics piece that makes data—big or small—a competitive advantage for customers of any size, in any industry or geography. It was an easy decision to join a company with such an impactful value proposition that fits such an important market need.” said Mark Thurmond, Executive Vice President, Worldwide Sales and Services.

“As we continue on an accelerated growth path in a dynamic industry, Mark will be a great leader taking us to the next stage of our growth” said Lars Bjork, CEO of Qlik. “Mark’s background in driving sales growth and execution in fast paced technology markets will be a terrific addition to our team.”

About Qlik

Qlik (NASDAQ: QLIK) is a leader in visual analytics. Its portfolio of products meets customers’ growing needs from reporting and self-service visual analysis to guided, embedded and custom analytics. Approximately 36,000 customers rely on Qlik solutions to gain meaning out of information from varied sources, exploring the hidden relationships within data that lead to insights that ignite good ideas. Headquartered in Radnor, Pennsylvania, Qlik has offices around the world with more than 1700 partners covering more than 100 countries.

Safe Harbor for Forward-Looking Statements

This press release contains forward-looking statements, including, but not limited to, statements regarding the value and effectiveness of Qlik’s products, the introduction of product enhancements or additional products and Qlik’s growth, expansion and market leadership, that involve risks, uncertainties, assumptions and other factors which, if they do not materialize or prove correct, could cause Qlik’s results to differ materially from those expressed or implied by such forward-looking statements. All statements, other than statements of historical fact, are statements that could be deemed forward-looking statements, including statements containing the words “predicts,” “plan,” “expects,” “anticipates,” “believes,” “goal,” “target,” “estimate,” “potential,” “may”, “will,” “might,” “momentum,” “could,” “seek,” and similar words. Qlik intends all such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in Section 21E of the Exchange Act and the Private Securities Litigation Reform Act of 1995. The forward-looking statements included in this press release represent Qlik’s views as of the date of this press release. Qlik anticipates that subsequent events and developments will cause its views to change. Qlik undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing Qlik’s views as of any date subsequent to the date of this press release.

© 2015 Qlik International AB. All rights reserved. Qlik®, Qlik® Sense, QlikView®, Qlik®, Qlik® Cloud, Qlik® DataMarket, Qlik® Analytics Platform and the Qlik logos are trademarks of Qlik International AB which have been registered in multiple countries. Other marks and logos mentioned herein are trademarks or registered trademarks of their respective owners.

View source version on businesswire.com: http://www.businesswire.com/news/home/20150824005099/en/

For Qlik

Maria Scurry, 781-366-7617

Global Communications

maria.scurry@qlik.com

or

Brett Pollack, 646-561-0906

Investor Relations

brett.pollack@qlik.com

Source: Qlik

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