Maria Alvarez
About Maria Alvarez
Maria Alvarez, age 60, has served on Alkami Technology’s board since January 1, 2023. She is currently Vice President, AI Platform and AI Division at Microsoft and previously held senior roles at Microsoft since 2011, with prior leadership positions at Panda Security (CTO & Product Head), Yahoo!, Hewlett Packard, and Symantec. She holds an M.S. in Computer Science from California Polytechnic University Pomona and is classified as an independent director under Nasdaq rules. She was re-elected as a Class I director at the May 14, 2025 annual meeting.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Microsoft Corporation | VP, AI Platform and AI Division; prior senior roles since 2011 | 2011–present (years not specified) | AI/ML platform leadership; product strategy and operational/technical excellence cited as board-relevant expertise |
| Panda Security | Chief Technology Officer and Product Head | — | Cybersecurity product leadership |
| Yahoo! Inc. | Senior roles (not specified) | — | Software development, security/search/ads exposure |
| Hewlett Packard Company | Senior roles (not specified) | — | Enterprise technology exposure |
| Symantec Corporation | Senior roles (not specified) | — | Security software experience |
External Roles
| Organization | Role | Status | Notes |
|---|---|---|---|
| BB Imaging (private) | Independent board member | Current | Diagnostic ultrasound services |
| Workfront, Inc. (private) | Director | Prior | SaaS work management; overlap with Alkami CEO’s former company (see Interlocks) |
Board Governance
- Independence: The board determined all directors other than the CEO are independent; Alvarez is independent. Roles of Chair and CEO are separated (Chair: Brian R. Smith).
- Board/class/tenure: Class I director; board is classified; Alvarez re-elected to serve until the 2028 annual meeting.
- Attendance: The board met 5 times in 2024; each director attended at least 75% of board and applicable committee meetings.
- Committee assignments:
- Nominating & Corporate Governance Committee: Chair.
- Information Systems Audit Committee: Member.
- 2024 meetings: ISAC met 4 times; Nominating & Corporate Governance met 4 times.
2025 Annual Meeting Voting (signals of investor support)
| Proposal | For | Withheld/Against | Abstain | Broker Non-Votes |
|---|---|---|---|---|
| Director election – Maria Alvarez | 69,649,901 | 3,368,514 | — | 4,546,846 |
| Director election – Raphael Osnoss | 50,574,522 | 22,443,893 | — | 4,546,846 |
| Director election – Joseph Payne | 71,314,948 | 1,703,467 | — | 4,546,846 |
| Ratify auditor (EY) | 77,083,253 | 449,938 | 32,070 | 0 |
| Say-on-pay (advisory) | 64,907,147 | 8,068,958 | 42,310 | 4,546,846 |
| Say-on-pay frequency | 71,717,459 (1 Yr) | 2,643 (2 Yr) | 1,262,487 (3 Yr) | 35,826 |
Fixed Compensation
| Component (Non-Employee Director Program) | Amount/Schedule | Notes |
|---|---|---|
| 2024 Fees Earned or Paid in Cash – Maria Alvarez | $36,000 | Alvarez elected to receive cash retainer in fully vested RSUs; amount reflects grant date fair value in lieu of cash. |
| 2024 Stock Awards – Maria Alvarez | $178,388 | Annual RSU award value (grant date fair value). |
| 2024 Total – Maria Alvarez | $214,388 | Sum of cash-in-RSUs and stock awards. |
| Director Fee Schedule (Cash) | Chair | Non-Chair |
|---|---|---|
| Board Annual Retainer | — | $30,000 |
| Audit Committee | $20,000 | $10,000 |
| Compensation Committee | $15,000 | $7,500 |
| Information Systems Audit Committee | $15,000 | $7,500 |
| Nominating & Corporate Governance Committee | $10,000 | $5,000 |
- Program mechanics: Directors may elect to receive all/part of cash retainers in fully vested RSUs; elections generally due by Dec 31 prior year. Settlement of RSUs (retainer or grants) may be deferred per Section 409A-compliant terms.
Performance Compensation
| Equity Component | Value/Amount | Vesting/Terms |
|---|---|---|
| Initial Director RSU Grant | $340,000 (value converted to # of RSUs at grant) | Vests 1/3 each anniversary over 3 years, subject to service. |
| Annual Director RSU Grant | $190,000 (value converted to # of RSUs at grant) | Vests on the earlier of 1-year anniversary or immediately before the next annual meeting, subject to service. |
| Change-in-Control Treatment | — | All director equity (Initial/Annual/other) vests immediately prior to a change in control. |
| RSUs Outstanding (12/31/2024) – Maria Alvarez | 24,116 unvested | Includes 17,263 unvested RSUs from her Jan 1, 2023 Initial Director award. |
| Deferred Vested RSUs – Maria Alvarez | 25,476 deferred | Vested RSUs with settlement deferred as of 12/31/2024. |
Directors do not have performance-based cash metrics; equity grants are time-vested per the Non-Employee Director Compensation Program.
Other Directorships & Interlocks
| Company/Organization | Role | Status | Interlock/Network Note |
|---|---|---|---|
| BB Imaging (private) | Independent director | Current | Healthcare services exposure; private company. |
| Workfront, Inc. (private) | Director | Prior | Potential network tie: Alkami CEO Alex Shootman previously served as CEO of Workfront (2016–2020, then Adobe through 2021). Not disclosed as a related-party transaction. |
Expertise & Qualifications
- AI/ML and enterprise software leadership (Microsoft AI Platform & Division; prior roles across security, search advertising).
- Product strategy, operational/technical excellence, and international leadership cited as board-relevant skills.
- Graduate-level technical education (M.S. Computer Science, Cal Poly Pomona).
- Committee leadership experience (Chair, Nominating & Corporate Governance; member, Information Systems Audit Committee overseeing cyber/data privacy and resilience).
Equity Ownership
| Metric | Detail |
|---|---|
| Beneficial Ownership (3/17/2025) | 41,192 shares; less than 1% of outstanding (based on 103,000,820 shares). |
| Components (within 60 days) | 34,339 shares issuable pursuant to deferred stock units (vested or potentially issuable); 6,853 RSUs vesting within 60 days. |
| Unvested RSUs Outstanding (12/31/2024) | 24,116 unvested RSUs (incl. 17,263 from Initial Director grant). |
| Deferred Vested RSUs | 25,476 vested RSUs with settlement deferred (as of 12/31/2024). |
| Hedging/Pledging | Company policy prohibits short sales, derivatives, and pledging of company securities by directors. |
Compensation Committee Analysis (context)
- Committee composition: Compensation Committee chaired by Raphael Osnoss; members Brian R. Smith and Gary Nelson (all independent directors).
- Independent consultant: FW Cook advises the committee; reports directly to the committee; provides no other services to the company.
- Peer group and process: Cloud/SaaS peer set used for NEO benchmarking; SEBP and LTI program design overseen by committee.
Related-Party/Conflict Screening
- Company policy requires Audit Committee review/approval of related-person transactions >$120,000.
- Disclosed 2024–2025 related-party items do not include Maria Alvarez; noted items involved a family member of an executive and historical vendor fees related to a former director’s company (CU Cooperative).
- Hedging and pledging are prohibited for directors, reducing misalignment risk.
Governance Assessment
- Strengths:
- High investor support: Alvarez received 69.65M “For” votes vs 3.37M “Withheld” at the 2025 meeting; above peer nominee withholds on the same ballot.
- Independent leadership: Chairs the Nominating & Corporate Governance Committee and serves on the Information Systems Audit Committee, aligning her AI/cyber background with cyber-risk oversight.
- Alignment: Elected to take retainers in fully vested RSUs and deferred settlement of 25,476 vested RSUs, signaling long-term alignment.
- Policy safeguards: Prohibitions on hedging/pledging mitigate misalignment and margin-call risks.
- Attention points:
- Network tie: Prior service on Workfront’s board while Alkami’s CEO previously led Workfront; not a related-party transaction, but a potential interpersonal network dynamic for governance observers.
- Attendance detail: Only aggregate ≥75% disclosure is provided; no director-specific attendance rates beyond that threshold.
Say-on-pay passed in 2025 (64.9M for; 8.07M against), and shareholders selected annual Say-on-Pay frequency, suggesting a constructive governance environment during Alvarez’s tenure.