GA Boosts ALKT Holding to 12.03M Shares After Market Purchases

Rhea-AI Filing Summary

General Atlantic and affiliated funds increased their beneficial ownership in Alkami Technology through multiple open-market purchases. The Form 4 reports acquisitions on 08/11/2025 and 08/13/2025 totaling 1,396,162 shares bought at net prices ranging from $20.647 to $22.5388 per share (individual lots: 250,000; 400,000; 516,771; 100,000; 129,391). After these transactions the filing shows aggregate beneficial ownership of 12,033,436 shares, consisting of 9,645,318 shares held by General Atlantic (AL), 2,346,162 held by GA AL Holding and employee-held amounts including 34,731 shares and 7,225 RSUs. The report lists multiple affiliated funds and states they may be deemed a group while disclaiming ownership beyond direct holdings.

Positive

• Large open-market accumulation: 1,396,162 shares acquired across five trades (250,000; 400,000; 516,771; 100,000; 129,391).
• Material beneficial ownership: Group holdings reported at 12,033,436 shares following the transactions.
• Transparent attribution: Filing details the split of holdings (9,645,318 by GA AL; 2,346,162 by GA AL Holding; employee holdings/RSUs disclosed).

Negative

• None.

Insights

Financial Analyst

TL;DR: Significant accumulation: General Atlantic bought 1.396M ALKT shares, raising group holdings to 12.03M shares.

The purchases occurred across five open-market trades at net prices between $20.647 and $22.5388, indicating material incremental investment by General Atlantic affiliates. The filing documents the resulting beneficial ownership breakdown and identifies the reporting entities as a collection of affiliated funds that may be deemed a group. For investors, the key factual points are the size of the purchases and the resulting 12,033,436-share stake; no option or derivative transactions are reported in this filing.

Corporate Governance Expert

TL;DR: Complex affiliated ownership and group disclaimers are disclosed; filings show transparent attribution of holdings.

The Form 4 explains ownership across multiple General Atlantic entities (GA AL, GA AL Holding and several GA Funds and coinvestment vehicles) and includes a standard disclaimer that the entities "may be deemed" a group while disclaiming ownership beyond direct holdings. The filing also lists an employee-held parcel and RSUs. These disclosures clarify beneficial ownership and intercompany relationships but do not indicate any change in control or new governance arrangements within the issuer.

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^*

GENERAL ATLANTIC, L.P.

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

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

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

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

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

	Form filed by One Reporting Person
X	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, par value $0.001 per share ("Common Stock")	08/11/2025		P(1)		250,000	A	$20.647	10,887,274	I	See footnote(6)(7)(8)
Common Stock	08/11/2025		P(2)		400,000	A	$20.7268	11,287,274	I	See footnote(6)(7)(8)
Common Stock	08/12/2025		P(3)		516,771	A	$21.4575	11,804,045	I	See footnote(6)(7)(8)
Common Stock	08/13/2025		P(4)		100,000	A	$22.3098	11,904,045	I	See footnote(6)(7)(8)
Common Stock	08/13/2025		P(5)		129,391	A	$22.5388	12,033,436	I	See footnote(6)(7)(8)

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

1. Name and Address of Reporting Person^*

GENERAL ATLANTIC, L.P.

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GENERAL ATLANTIC GENPAR, L.P.

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

General Atlantic Partners 100, L.P.

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GAP COINVESTMENTS III, LLC

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GAP COINVESTMENTS IV, LLC

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

GAP Coinvestments V, LLC

(Last) (First) (Middle)

C/O GENERAL ATLANTIC SERVICE CO., L.P.

55 EAST 52ND STREET, 33RD FLOOR

(Street)

NEW YORK NY 10055

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

General Atlantic Partners (Bermuda) EU, L.P.

(Last) (First) (Middle)

C/O CONYERS CLIENT SERVICES LIMITED,

CLARENDON HOUSE, 2 CHURCH STREET

(Street)

HAMILTON D0 HM 11

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

General Atlantic Partners (Lux), SCSp

(Last) (First) (Middle)

412F, ROUTE D'ESCH

(Street)

LUXEMBOURG N4 L-1471

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

General Atlantic (Lux) S.a r.l.

(Last) (First) (Middle)

412F, ROUTE D'ESCH

(Street)

LUXEMBOURG N4 L-1471

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

General Atlantic GenPar (Lux) SCSp

(Last) (First) (Middle)

412F, ROUTE D'ESCH

(Street)

LUXEMBOURG N4 L-1471

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The shares of Common Stock were acquired by General Atlantic Partners (Bermuda) T, L.P., a Bermuda limited partnership ("GA AL Holding "), pursuant to an open market purchase of 250,000 shares on August 11, 2025 at a net price per share of $20.647.

2. The shares of Common Stock were acquired by GA AL Holding, pursuant to an open market purchase of 400,000 shares on August 11, 2025 at a net price per share of $20.7268.

3. The shares of Common Stock were acquired by GA AL Holding, pursuant to an open market purchase of 516,771 shares on August 12, 2025 at a net price per share of $21.4575.

4. The shares of Common Stock were acquired by GA AL Holding, pursuant to an open market purchase of 100,000 shares on August 13, 2025 at a net price per share of $22.3098.

5. The shares of Common Stock were acquired by GA AL Holding, pursuant to an open market purchase of 129,391 shares on August 13, 2025 at a net price per share of $22.5388.

6. Consists of (a) 9,645,318 shares held by General Atlantic (AL), L.P ("GA AL"), (b) 2,346,162 shares held by GA AL Holding and (c) 34,731 shares and 7,225 restricted stock units held by Raphael Osnoss, who is an employee of General Atlantic Service Company, L.P. ("GASC"), solely for the benefit of GASC. The following investment funds share beneficial ownership of the common shares held of record by GA AL and GA AL Holding: General Atlantic Partners (Bermuda) EU, L.P. ("GAP Bermuda EU"), General Atlantic Partners (Lux) SCSp ("GAP Lux"), GAP Coinvestments III, LLC ("GAPCO III"), GAP Coinvestments IV, LLC ("GAPCO IV"), GAP Coinvestments V, LLC ("GAPCO V") and GAP Coinvestments CDA, L.P. ("GAPCO CDA"). The following investment funds also share beneficial ownership of the common shares held of record by GA AL: General Atlantic Partners 100, L.P. ("GAP 100"). (Cont'd in FN7)

7. (Cont'd from FN6) The following investment funds also share beneficial ownership of the common shares held of record by GA AL Holding: General Atlantic Partners (Bermuda) IV, L.P. ("GAP Bermuda IV"). GAP 100, GAP Bermuda EU, GAP Lux are collectively referred to as the "GA Funds." GAPCO III, GAPCO IV, GAPCO V and GAPCO CDA are collectively referred to as the "Sponsor Coinvestment Funds." The general partner of GA AL is General Atlantic (SPV) GP, LLC ("GA SPV"). The general partner of GAP Lux is General Atlantic GenPar (Lux) SCSp ("GA GenPar Lux"), and the general partner of GA GenPar Lux is General Atlantic (Lux) S.a r.l. ("GA Lux"). The general partner of GA AL Holding is General Atlantic (SPV) (Bermuda) GP, LLC ("GA SPV Bermuda"). The general partner of GAP Bermuda EU, the general partner of GAP Bermuda IV, the sole member of GA SPV Bermuda and the sole shareholder of GA Lux is General Atlantic GenPar (Bermuda), L.P. ("GenPar Bermuda"). (Cont'd in FN8)

8. (Cont'd from FN7) General Atlantic, L.P. ("GA LP"), which is controlled by the Partnership Committee of GASC MGP, LLC (the "GA Partnership Committee"), is the managing member of GAPCO III, GAPCO IV, and GAPCO V, the general partner of GAPCO CDA, and is the sole member of GA SPV. GAP (Bermuda) LP. ("GAP Bermuda"), which is also controlled by the Partnership Committee, is the general partner of GenPar Bermuda. The general partner of GAP 100 is GA GenPar, and the general partner of GA GenPar is GA LP. There are six members of the GA Partnership Committee. Each of the members of the GA Partnership Committee disclaims ownership of the shares except to the extent that he has a pecuniary interest therein.

Remarks:

GA LP, GA SPV, GA AL, GA GenPar, GA GenPar Lux, GA Lux, GenPar Bermuda, GAP (Bermuda), the GA Funds, GA AL Holding and the Sponsor Coinvestment Funds may be deemed to be members of a "group" for the purposes of the Securities Exchange Act of 1934. Each reporting person disclaims beneficial ownership of any securities deemed to be owned by the group that are not directly owned by the reporting person. This report shall not be deemed an admission that the reporting persons are a member of a group or the beneficial owner of any securities not directly owned by the reporting person. Each of the reporting persons is a director-by-deputization solely for purposes of Section 16 of the Exchange Act. // Form 1 of 2

	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Michael Gosk	08/13/2025
	/s/ Ingrid van der Hoorn	08/13/2025
	/s/ Ingrid van der Hoorn	08/13/2025
	/s/ Ingrid van der Hoorn	08/13/2025
	** 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.
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FAQ

What trades did General Atlantic report in the ALKT Form 4?

The Form 4 reports five open-market purchases on 08/11/2025–08/13/2025 totaling 1,396,162 shares in lots of 250,000; 400,000; 516,771; 100,000; and 129,391 shares.

At what prices were the ALKT shares acquired by General Atlantic?

The net purchase prices reported were $20.647, $20.7268, $21.4575, $22.3098, and $22.5388 per share for the respective lots.

How many ALKT shares does General Atlantic beneficially own after these transactions?

After the reported transactions the filing shows beneficial ownership of 12,033,436 shares in total.

How is the 12,033,436-share position composed?

The filing attributes 9,645,318 shares to General Atlantic (AL), 2,346,162 shares to GA AL Holding, plus 34,731 shares and 7,225 RSUs held by an employee for the benefit of GASC.

Do the reporting persons claim to act as a group in the ALKT filing?

The report states the affiliated entities "may be deemed to be members of a 'group'" under the Exchange Act but each reporting person disclaims beneficial ownership of securities not directly owned by that person.