[Form 4] ALKAMI TECHNOLOGY, INC. Insider Trading Activity

Rhea-AI Filing Summary

Insider transaction summary: A Form 4 shows director Steven R. Mitchell reported an acquisition of 347 shares of Alkami Technology, Inc. (ALKT) on 10/05/2025, with an elected deferral under the 2021 Incentive Award Plan, priced at $0 to reflect the deferred issuance terms. The filing also discloses an indirect beneficial interest in 2,521,611 shares held by ARG Private Equity II, LLC (APE II), for which Mr. Mitchell serves as an adviser and disclaims beneficial ownership except for his pecuniary interest. The Form 4 was signed by an attorney-in-fact on 10/07/2025.

Positive

• Deferred equity award of 347 shares under the 2021 Incentive Award Plan indicates board-level alignment with long-term compensation
• Clear disclosure of indirect ownership of 2,521,611 shares via ARG Private Equity II, LLC with an adviser role disclosed

Negative

• None.

Insights

Corporate Governance / Insider Transactions Specialist

Director deferred 347 shares and reports a 2.52M indirect holding via APE II.

The report records a 347-share acquisition on 10/05/2025 where the reporting person elected to defer receipt under the 2021 Incentive Award Plan, recorded at $0 to reflect plan deferral mechanics rather than a cash purchase. Separately, the filing lists 2,521,611 shares held by ARG Private Equity II, LLC as indirect beneficial ownership because the director serves as an adviser.

This combination — a small direct deferred award plus a large indirect position — matters for governance and ownership clarity; monitor any future Forms 3/4/5 for changes in the 2.52M position or additional direct disposals/acquisitions over the next 12 months.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Mitchell Steven R

(Last) (First) (Middle)

C/O ARGONAUT PRIVATE EQUITY

7030 S. YALE AVE., STE. 810

(Street)

TULSA OK 74136

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ALKAMI TECHNOLOGY, INC. [ ALKT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	10/05/2025		A		347(1)	A	$0	85,216	D
Common Stock								2,521,611	I	See footnote(2)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reporting person elected to defer receipt of these shares under the terms of the 2021 Incentive Award Plan.

2. Shares held by ARG Private Equity II, LLC ("APE II"). The Reporting Person, a member of the Issuer's board of directors, serves as an adviser to APE II and may be deemed to have beneficial ownership of the shares held by APE II. The Reporting Person disclaims beneficial ownership of all such shares except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Douglas A. Linebarger, as Attorney-in-Fact for Steven R. Mitchell	10/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did Steven R. Mitchell report on Form 4 for ALKT?

He reported acquisition of 347 shares on 10/05/2025 via a deferral under the 2021 Incentive Award Plan and disclosed an indirect interest in 2,521,611 shares held by ARG Private Equity II, LLC.

Was there a cash purchase price reported for the 347 shares?

No; the filing shows a price of $0, reflecting an election to defer receipt under the incentive plan rather than a market purchase.

Why is 2,521,611 shares listed as indirect ownership?

Those shares are held by ARG Private Equity II, LLC; the reporting person serves as an adviser to APE II and may be deemed to have beneficial ownership but disclaims ownership except for pecuniary interest.

When was the Form 4 signed and filed?

The signature by attorney-in-fact is dated 10/07/2025, with the transaction dated 10/05/2025.

Does this Form 4 show any option exercises or derivative transactions?

No derivative securities or option exercises are reported on this Form 4; only the non-derivative common stock entries are shown.