Variable: lisp-lambda-list-keyword-parameter-alignment

Whether to vertically align lambda-list keyword parameters together.
If nil (the default), the parameters are aligned
with their corresponding keyword, plus the value of
`lisp-lambda-list-keyword-parameter-indentation', like this:

(defun foo (arg1 arg2 &key key1 key2
key3 key4)
#|...|#)

If non-nil, alignment is done with the first parameter
(or falls back to the previous case), as in:

(defun foo (arg1 arg2 &key key1 key2
key3 key4) #|...|#)