Enphase Energy (ENPH) CEO-linked trust adds common shares in open-market buys

Rhea-AI Filing Summary

Enphase Energy President & CEO Badrinarayanan Kothandaraman, through a trust where he serves as trustee, reported open-market purchases of company stock. On February 5, 2026, the trust bought 750 shares at a weighted average price of $51.064 and 4,250 shares at a weighted average price of $52.1378. The filing notes these were executed in multiple trades within stated price ranges. After these transactions, the trust held 1,640,632 Enphase shares indirectly, while Kothandaraman also directly owned 143,420 shares of common stock.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kothandaraman Badrinarayanan

(Last) (First) (Middle)

C/O ENPHASE ENERGY, INC.

47281 BAYSIDE PARKWAY

(Street)

FREMONT CA 94538

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Enphase Energy, Inc. [ ENPH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/05/2026		P		750	A	$51.064(1)	1,636,382	I	By Trust(2)
Common Stock	02/05/2026		P		4,250	A	$52.1378(3)	1,640,632	I	By Trust(2)
Common Stock								143,420	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents a weighted average purchase price per share. These shares were purchased in multiple transactions at prices ranging from $50.72 to $51.52. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Commission or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.

2. These shares are held directly by the Trust of which the Reporting Person serves as a trustee.

3. Represents a weighted average purchase price per share. These shares were purchased in multiple transactions at prices ranging from $51.99 to $52.21. The Reporting Person has provided to the Issuer, and undertakes to provide to the staff of the Commission or any security holder of the Issuer, upon request, full information regarding the number of shares purchased at each separate price within the range.

Remarks:

	/s/ Lisan Hung, Attorney-in-Fact for Badri Kothandaraman	02/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Enphase Energy (ENPH) report in this Form 4?

The filing reports that a trust associated with Enphase Energy’s President & CEO bought common stock. On February 5, 2026, it acquired 750 shares and 4,250 shares in two separate open-market purchases at disclosed weighted average prices.

Who is the reporting person in this Enphase Energy (ENPH) Form 4 filing?

The reporting person is Badrinarayanan Kothandaraman, Enphase Energy’s President & CEO and a director. The reported purchases were made by a trust for which he serves as trustee, and the shares are held indirectly through that trust structure.

How many Enphase Energy (ENPH) shares did the trust purchase and at what prices?

The trust purchased 750 Enphase Energy common shares at a weighted average price of $51.064 and 4,250 shares at a weighted average price of $52.1378. Each weighted average reflects multiple trades within price ranges disclosed in the Form 4 footnotes.

How many Enphase Energy (ENPH) shares are held indirectly by the CEO’s trust after these trades?

Following the reported purchases, the trust held 1,640,632 shares of Enphase Energy common stock indirectly for the reporting person. This figure reflects the total indirect beneficial ownership by the trust after completing both February 5, 2026 transactions.

What is the CEO’s direct Enphase Energy (ENPH) share ownership in this filing?

In addition to the trust holdings, Badrinarayanan Kothandaraman directly owned 143,420 shares of Enphase Energy common stock. This direct ownership amount is listed separately from the trust’s indirect position in the Form 4’s non-derivative securities table.

Were the Enphase Energy (ENPH) insider purchases executed in single trades or multiple trades?

The filing states each reported purchase price is a weighted average. The 750-share and 4,250-share acquisitions were completed through multiple transactions within specified price ranges, and detailed trade-level pricing is available from the reporting person upon request.