Sec Form 13D Filing - Silver Lake Group L.L.C. filing for QUALTRICS INTL INC (XM) - 2023-03-06

Insider filing report for Changes in Beneficial Ownership

  • Schedule 13G & 13D forms are used to report a party's ownership of stock which exceeds 5% of a company's total stock issue.
  • Schedule 13G is a shorter version of Schedule 13D with fewer reporting requirements.
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

 

Qualtrics International Inc.

(Name of Issuer)

Class A Common Stock, $0.0001 par value per share

(Title of Class of Securities)

747601201

(CUSIP Number)

Andrew J. Schader, Esq.

Silver Lake

55 Hudson Yards

550 West 34th Street, 40th Floor

New York, NY 10001

(212) 981-5600

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

With copies to:

Justin G. Hamill, Esq.

Latham & Watkins LLP

1271 Avenue of the Americas

New York, New York 10020

(212) 906-1200

March 5, 2023

(Date of Event Which Requires Filing of This Statement)

 

 

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), Rule 13d-1(f) or Rule 13d-1(g), check the following box.  ☐

 

 

Note: Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7(b) for other parties to whom copies are to be sent.

 

 

 

*

The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter disclosures provided in a prior cover page.

The information required on the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


CUSIP No. 747601201    13D    Page 1 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SLP Quartz Aggregator, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  22,518,484

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  22,518,484

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  22,518,484

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  13.4%

14  

  Type of Reporting Person

 

  PN


CUSIP No. 747601201    13D    Page 2 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SLP VI Aggregator GP, L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  22,518,484

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  22,518,484

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  22,518,484

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  13.4%

14  

  Type of Reporting Person

 

  OO


CUSIP No. 747601201    13D    Page 3 of 10 pages

 

  1    

  Names of Reporting Persons

 

  Silver Lake Partners VI DE (AIV), L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  2,286,624

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  2,286,624

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  2,286,624

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  1.4%

14  

  Type of Reporting Person

 

  PN


CUSIP No. 747601201    13D    Page 4 of 10 pages

 

  1    

  Names of Reporting Persons

 

  Silver Lake Technology Investors VI, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  182,731

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  182,731

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  182,731

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  0.1%

14  

  Type of Reporting Person

 

  PN

 


CUSIP No. 747601201    13D    Page 5 of 10 pages

 

  1    

  Names of Reporting Persons

 

  Silver Lake Technology Associates VI, L.P.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  24,987,839

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  24,987,839

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  24,987,839

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  14.9%

14  

  Type of Reporting Person

 

  PN


CUSIP No. 747601201    13D    Page 6 of 10 pages

 

  1    

  Names of Reporting Persons

 

  SLTA VI (GP), L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only< /p>

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organization

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  24,987,839

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  24,987,839

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  24,987,839

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  14.9%

14  

  Type of Reporting Person

 

  OO


CUSIP No. 747601201    13D    Page 7 of 10 pages

 

  1    

  Names of Reporting Persons

 

  Silver Lake Group, L.L.C.

  2  

  Check the Appropriate Box if a Member of a Group

  (a)  ☐        (b)  ☒

 

  3  

  SEC Use Only

 

  4  

  Source of Funds (See Instructions)

 

  OO

  5  

  Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

 

  ☐

  6  

  Citizenship or Place of Organiz ation

 

  Delaware

NUMBER OF

SHARES

 BENEFICIALLY 

OWNED BY

EACH

REPORTING

PERSON

WITH

 

     7     

  Sole Voting Power

 

  0

     8   

  Shared Voting Power

 

  24,987,839

     9   

  Sole Dispositive Power

 

  0

   10   

  Shared Dispositive Power

 

  24,987,839

11    

  Aggregate Amount Beneficially Owned by Each Reporting Person

 

  24,987,839

12  

  Check if the Aggregate Amount in Row (11) Excludes Certain Shares

 

  ☐

13  

  Percent of Class Represented by Amount in Row (11)

 

  14.9%

14  

  Type of Reporting Person

 

  OO

 


CUSIP No. 747601201    13D    Page 8 of 10 pages

 

Explanatory Note

This Amendment No. 4 (the “Amendment No. 4”) to Schedule 13D amends and supplements the Schedule 13D originally filed with the United States Securities and Exchange Commission on February 11, 2021 (as amended to date, the “Schedule 13D”), relating to the Class A common stock, $0.0001 par value per share (the “Class A Common Stock”) of Qualtrics International Inc., a Delaware corporation (the “Issuer”).

Item 4. Purpose of Transaction

Item 4 of the Schedule 13D is hereby amended and supplemented as follows:

Update on Exploration of Strategic Alternatives

On March 3, 2023, affiliates of the Reporting Persons (together with the Reporting Persons, “Silver Lake”) submitted a proposal (the “Proposal”) to the Issuer to acquire, together with affiliates of Canada Pension Plan Investment Board, all of the outstanding shares of Class A and Class B common stock of the Issuer not owned by Silver Lake at a price of $18.15 per share in cash (the “Proposed Transaction”). The Issuer has agreed in principle to proceed with the Proposed Transaction at this price and, on March 5, 2023, entered into an exclusivity agreement (the “Exclusivity Agreement”) with Silver Lake to allow for, among other things, the negotiation and finalization of definitive transaction documents for the Proposal. The Exclusivity Agreement is subject to customary terms and conditions and provides, among other things, that the Issuer will negotiate exclusively with the Silver Lake in connection with the Proposed Transaction until 5:59 p.m. (Eastern Time) on March 15, 2023. The Reporting Persons can provide no assurances that a definitive agreement relating to the Proposal, or any other proposal by or transaction with Silver Lake, will be entered into with the Issuer.


CUSIP No. 747601201    13D    Page 9 of 10 pages

 

SIGNATURES

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: March 5, 2023

 

SLP Quartz Aggregator, L.P.
By:   SLP VI Aggregator GP, L.L.C. its general partner
By:   Silver Lake Technology Associates VI, L.P., its managing member
By:   SLTA VI (GP), L.L.C., its general partner
By:   Silver Lake Group, L.L.C., its managing member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel
SLP VI Aggregator GP, L.L.C.
By:   Silver Lake Technology Associates VI, L.P., its managing member
By:   SLTA VI (GP), L.L.C., its general partner
By:   Silver Lake Group, L.L.C., its managi ng member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel
Silver Lake Partners VI DE (AIV), L.P.
By:   Silver Lake Technology Associates VI, L.P., its managing member
By:   SLTA VI (GP), L.L.C., its general partner
By:   Silver Lake Group, L.L.C., its managing member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel


CUSIP No. 747601201    13D    Page 10 of 10 pages

 

Silver Lake Technology Investors VI, L.P.
By:   Silver Lake Technology Associates VI, L.P., its managing member
By:   SLTA VI (GP), L.L.C., its general partner
By:   Silver Lake Group, L.L.C., its managing member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel
Silver Lake Technology Associates VI, L.P.
By:   SLTA VI (GP), L.L.C., its general partner
By:   Silver Lake Group, L.L.C., its managing member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel
SLTA VI (GP), L.L.C.
By:   Silver Lake Group, L.L.C., its managing member
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel
Silver Lake Group, L.L.C.
By:  

/s/ Andrew J. Schader

Name:   Andrew J. Schader
Title:   Managing Director and General Counsel