JANA Partners Reports 5.1% Stake in Alkami Technology, Inc. (ALKT)

On April 1, 2026, JANA Partners Management, LP filed a Schedule 13D reporting a 5.1% ownership stake in Alkami Technology, Inc. (ALKT). The reporting person acquired 5,431,388 shares of common stock for an aggregate purchase price of approximately $119 million. The filing indicates that the shares were acquired because JANA believes the stock is currently undervalued and represents an attractive investment opportunity. In addition to the direct equity holdings, JANA disclosed economic exposure to an additional 2.8% of the issuer's shares through cash-settled swaps with expiration dates ranging from 2028 to 2030. Transactions leading to this position were conducted in the open market, including a significant purchase of 300,000 shares on February 26, 2026, at a weighted average price of $15.00, and 236,723 shares on March 25, 2026, at $16.01. JANA Partners Management GP, LLC serves as the general partner to the reporting person. This filing marks a new significant position for the activist investment firm in the financial technology provider.