Alkami Technology (NASDAQ: ALKT) expands board, appoints Jeff Fox and Jud Linville
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Alkami Technology, Inc. is expanding its board of directors and adding two new independent members. Effective after the 2026 Annual Meeting of Stockholders, the company will appoint Jeffrey (Jeff) Fox and Judson (Jud) Linville to its board, increasing the total number of directors from nine to 11.
Mr. Linville will serve as a Class III director with a term running to the 2027 annual meeting, while Mr. Fox will serve as a Class I director with a term running to the 2028 annual meeting. Each will receive compensation in line with Alkami’s existing program for non-employee directors, and the board will later decide which committees they will join.
The company states there are no relationships or transactions between the new directors and Alkami that require disclosure under Regulation S-K Item 404(a). Both appointees bring extensive leadership experience from prior roles in financial services, technology, and public company governance.
Positive
- None.
Negative
- None.
8-K Event Classification
Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
1 item
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Key Figures
Board size after expansion: 11 directors
Class I directors after change: 4 directors
Class III directors after change: 4 directors
+3 more
6 metrics
Board size after expansion
11 directors
Board increases from nine to eleven after 2026 Annual Meeting
Class I directors after change
4 directors
Class I size increases from three to four after 2026 Annual Meeting
Class III directors after change
4 directors
Class III size increases from three to four after 2026 Annual Meeting
Citigroup cards revenue led by Linville
$13 billion
Global Cards and Consumer Services revenue at Citigroup during Linville’s leadership
Citigroup card customers under Linville
55 million customers
Individual and small business credit card customers across 18 countries
Citigroup countries served
18 countries
Geographic scope of Citigroup’s global credit card franchise under Linville
Key Terms
Class I director, Class III director, non-employee directors, Item 404(a) of Regulation S-K, +1 more
5 terms
Class I director financial
"Mr. Fox will serve as a Class I director of the Company with a term expiring at the Company’s 2028 annual meeting"
A class I director is a member of a company’s board who belongs to one of several groups whose terms expire in a specified year under a staggered election system; each class is elected on a different cycle so only a portion of the board faces re-election each year. This matters to investors because it affects how quickly control of the board can change, the company’s continuity and oversight, and the ease of mounting or defending against takeover efforts—think of a team where only some players are replaced each season rather than the whole roster at once.
Class III director financial
"Mr. Linville will serve as a Class III director of the Company with a term expiring at the Company’s 2027 annual meeting"
A Class III director is a board member placed in one of the numbered groups used by companies with a staggered (or “classified”) board; that director’s seat typically comes up for election in the third year of a three-year rotation. For investors this matters because staggered terms create continuity but also make it harder to replace the whole board quickly, affecting shareholder influence, takeover dynamics and how fast new strategy or accountability can be implemented — like replacing only some players on a sports team each season instead of the whole roster at once.
non-employee directors financial
"Each New Director ... will receive compensation consistent with the Company’s compensation program for non-employee directors"
Item 404(a) of Regulation S-K regulatory
"There are no transactions or relationships between the New Directors and the Company that would be reportable under Item 404(a) of Regulation S-K"
Annual Meeting of Stockholders financial
"effective immediately following the conclusion of the Company’s 2026 Annual Meeting of Stockholders"
FAQ
What board changes did Alkami Technology (ALKT) announce in this 8-K?
Alkami Technology announced that Jeffrey Fox and Judson Linville will join its board following the 2026 Annual Meeting, expanding the board from nine to eleven members. Both will serve as independent directors with terms ending at the 2028 and 2027 annual meetings, respectively.
Who is Judson Linville, the new director at Alkami Technology (ALKT)?
Judson Linville is a veteran financial services and technology executive with over 30 years of experience, including leading Citigroup’s Global Cards and Consumer Services franchise with about $13 billion in revenue. He also has senior experience at American Express and serves on Marqeta’s board.
What is Jeffrey Fox’s background before joining Alkami Technology (ALKT)’s board?
Jeffrey Fox is CEO and Founder of Circumference Group LLC and has previously served as President and CEO of Endurance International Group and Convergys Corporation. He currently sits on the boards of Penn Entertainment, Westrock Coffee Company, and Resources Connection, bringing broad public company experience.
How are the director classes at Alkami Technology (ALKT) affected by this change?
Alkami’s board approved increasing both Class I and Class III from three to four directors effective after the 2026 Annual Meeting. Judson Linville will join as a Class III director, and Jeffrey Fox will join as a Class I director, aligning with staggered multi-year terms.
Will the new Alkami Technology (ALKT) directors receive special compensation?
The filing states each new director will receive compensation consistent with Alkami’s existing program for non-employee directors. Their pay will follow the framework previously described in the company’s Schedule 14A proxy statement filed on March 31, 2025, without mentioning any unique arrangements.