The KDE 4.14 software code has been branched from master for all KDE Software Compilation repositories (sans KActivites that's being left out for a 4.14 release). In terms of what's next for the master code-base, while before a potential "KDE 4.15" release was talked about, it was agreed upon by KDE developers that 4.14 will be the last of KDE Applications that exclusively use KDE Platform 4.
Planned for a debut in December is a new release to be tentatively called KDE Applications 14.12. This "KDE Applications 14.12" release will include both kdelibs4 and KDE Frameworks 5 applications. However, the master code should be switched to just KDE Frameworks 5 by August 2015 when the long-term support of KDE Workspaces 4.11 is ending.
These KDE 4.14 / KDE Applications 14.12 details were shared on kde-cvs-announce by KDE's Albert Astals Cid. For those looking forward to KDE 4.14, its release is expected in mid-August per the KDE 4.14 release schedule.