Company: QLYS
Filing Date: 2025-05-06
Form Type: 10-Q
Source: 0001107843-25-000017
Chunk: 124

Company: QUALYS, INC.
Filing Date: 2025-05-06
Form: 10-Q
Item: Part II, Item 1A
Chunk 124
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 the arrangement were completed.

On February 26, 2025, Sumedh S. Thakar, our Chief Executive Officer and a member of our board of directors, adopted a Rule 10b5-1 trading arrangement providing for the sale from time to time of an aggregate of up to 118,000 shares of our common stock, which represents the gross number of shares authorized to be sold during the duration of the 

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plan, before excluding any shares withheld by the Company to satisfy its income tax withholding in connection with the net settlement of the equity awards. The trading arrangement is intended to satisfy the affirmative defense in Rule 10b5-1(c). Mr. Thakar's new Rule 10b5-1 trading arrangement will not commence until his previous Rule 10b5-1 trading arrangement terminates by its terms. The duration of the trading arrangement is until April 30, 2026, or earlier if all transactions under the trading arrangement are completed.

No other director or officer, as defined in Rule 16a-1(f), adopted or terminated a "Rule 10b5-1 trading arrangement" or a "non-Rule 10b5-1 trading arrangement," each as defined in Regulation S-K Item 408, during the three months ended March 31, 2025.

Lease Amendment

We are providing the following disclosure in lieu of filing a Current Report on Form 8-K relating to Item 1.01 (Entry into a Material Definitive Agreement) and Item 2.03 (Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant).

On May 1, 2025, the Company entered into a second amendment (the “Amendment”) to that certain Lease Agreement dated October 14, 2016, as amended to date, by and between the Company and Hudson Metro Center, LLC (the “Lease”), pursuant to which the Company leases its headquarters building in Foster City, California. The Amendment is effective as of May 1, 2025, and its primary effect is to modify the Company's existing lease payments and extend the term of the Lease until April 30, 2034 for an aggregate base rent of $30.4 million, payable monthly with escalating rental payments throughout the lease term, subject to options to renew the Lease for additional periods as set forth in the Amendment. The Amendment also addresses terms relating to expenses and taxes, and improvements to the