Alkami Technology: JANA reduces ownership to 4.98%

The reported position includes sole voting and dispositive power over 5,335,707 common shares.

Available on EDGAR 10/30/2026 - 09:30 PM EDT Accepted by SEC EDGAR 10/30/2026 - 09:30 PM EDT Learn about SEC filing dates

Rhea-AI Filing Summary

ALKAMI TECHNOLOGY, INC. disclosed that JANA Partners Management reduced its ownership below the applicable reporting threshold, stating that this provides greater flexibility for private discussions with the Board. JANA Partners Management beneficially owned 5,335,707 common shares, or 4.98%. The percentage is based on 107,042,319 shares outstanding as of September 30, 2026.

Key Figures

Beneficial ownership: 5,335,707 shares Class ownership: 4.98% Shares outstanding: 107,042,319 shares

3 metrics

Beneficial ownership 5,335,707 shares Reported by JANA Partners Management

Class ownership 4.98% Percentage of the issuer's shares beneficially owned

Shares outstanding 107,042,319 shares As of September 30, 2026; basis for the reported ownership percentage

Key Terms

beneficially owned, Sole Voting Power, Sole Dispositive Power

3 terms

beneficially owned regulatory

"aggregate number of Shares beneficially owned by the Reporting Person"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Voting Power regulatory

"Sole Voting Power 5,335,707.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Sole Dispositive Power regulatory

"Sole Dispositive Power 5,335,707.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Were JANA Partners Management's ALKT transactions open-market transactions?

Yes. All transactions in ALKT shares effected by JANA Partners Management since filing Amendment No. 1 were in the open market.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

ALKAMI TECHNOLOGY, INC.

(Name of Issuer)

Common Stock, par value $0.001 per share

(Title of Class of Securities)

01644J108

(CUSIP Number)

Ele Klein & Brandon Gold
McDermott Will & Schulte LLP, 919 Third Avenue
New York, NY, 10022
212-756-2000

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

10/28/2026

(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 §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

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).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 01644J108

1

Name of reporting person

JANA Partners Management, LP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

AF

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 5,335,707.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 5,335,707.00
10	Shared Dispositive Power 0.00

11

Aggregate amount beneficially owned by each reporting person

5,335,707.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

4.98 %

14

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: Common Stock, par value $0.001 per share
(b)	Name of Issuer: ALKAMI TECHNOLOGY, INC.
(c)	Address of Issuer's Principal Executive Offices: 5601 GRANITE PARKWAY, SUITE 120, PLANO, TEXAS , 75024.
Item 1 Comment: This Amendment No. 2 ("Amendment No. 2") amends the statement on Schedule 13D filed with the SEC on June 29, 2026 (as amended from time to time, the "Schedule 13D") with respect to the Shares of the Issuer. This Amendment No. 2 amends Items 4 and 5 as set forth below. Capitalized terms used herein and not otherwise defined in this Amendment No. 2 have the meanings set forth in the Schedule 13D.
Item 4.	Purpose of Transaction
	Item 4 is hereby amended and supplemented as follows: The Reporting Person reduced its ownership of the Issuer to below the applicable reporting threshold, providing greater flexibility to engage in private discussions with the Board.
Item 5.	Interest in Securities of the Issuer
(a)	Item 5(a) is hereby amended and restated in its entirety as follows: See rows (11) and (13) of the cover page to this Schedule 13D for the aggregate number of Shares and percentage of Shares beneficially owned by the Reporting Person. The percentage of Shares reported to be beneficially owned by the Reporting Person is based upon 107,042,319 Shares outstanding as of September 30, 2026, as reported in the Issuer's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2026, filed with the Securities and Exchange Commission on October 29, 2026.
(b)	Item 5(b) is hereby amended and restated in its entirety as follows: See rows (7) through (10) of the cover page to this Schedule 13D for the number of Shares as to which the Reporting Person has the sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition.
(c)	Item 5(c) is hereby amended and restated in its entirety as follows: All transactions in the Shares effected by the Reporting Person since the filing of Amendment No. 1, which were all in the open market, are set forth in Schedule A and are incorporated herein by reference.
(e)	Item 5(e) is hereby amended and restated in its entirety as follows: October 28, 2026.

SIGNATURE

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.

JANA Partners Management, LP

Signature:	/s/ Jennifer Fanjiang
Name/Title:	Jennifer Fanjiang, Partner, Chief Legal Officer and Chief Compliance Officer
Date:	10/30/2026