JANA Partners Reduces Alkami Technology Stake to 4.99% for Private Board Discussions

On May 12, 2026, JANA Partners Management, LP filed an amendment to its Schedule 13D regarding its investment in Alkami Technology, Inc. (ALKT). The filing indicates that the reporting person has reduced its beneficial ownership to 5,339,388 shares of common stock, representing approximately 4.99% of the company's outstanding shares. This reduction brings JANA's holdings below the 5% reporting threshold. According to the filing, the divestment was executed through open market sales on May 7 and May 8, 2026, totaling 92,000 shares at prices ranging from $17.34 to $17.84 per share. JANA Partners stated that the primary purpose of reducing its ownership below the reporting threshold was to facilitate private discussions with Alkami Technology's Board of Directors regarding specific potential value-maximizing opportunities. The reporting person maintains sole voting and dispositive power over the remaining shares. This move suggests a strategic shift toward private engagement with the issuer's leadership while adjusting their equity position.