Enphase Energy: Rodgers trust sells 300,000 shares

Available on EDGAR 11/12/2026 - 08:03 PM EST Accepted by SEC EDGAR 11/12/2026 - 08:03 PM EST Learn about SEC filing dates

Rhea-AI Filing Summary

Enphase Energy, Inc. director Thurman J. Rodgers reported that the Rodgers Massey Revocable Living Trust sold 300,000 common shares on November 9, 2026, at a weighted average price of $29.1116 per share. The shares were sold in multiple transactions at prices from $28.855 to $29.75. The sale was described as providing Rodgers liquidity for capital commitments related to private portfolio funds; no Rule 10b5-1 plan is reported.

The filing lists 4,464 shares held directly by Rodgers and 85,200 shares held by the Rodgers Family Freedom and Free Markets Charitable Trust. Rodgers and his spouse, Valeta Massey, are trustees of that charitable trust, and Rodgers disclaims beneficial ownership except to the extent of their pecuniary interest.

Insider Trade Summary

Net Seller: 300,000 shares

Net Sell 1 txn

Insider Rodgers Thurman J

Role Director

Sold 300,000 shs ($8.73M)

Share of Position Sold 18.7%

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	300,000	$29.1116	$8.73M
Holding	Common Stock	--	--	--
Holding	Common Stock F4	--	--	--
Holding	Common Stock F5	--	--	--
Holding	Common Stock F6	--	--	--

Holdings After Transaction: Common Stock — 1,309,919 shares (Indirect, By Trust); Common Stock — 4,464 shares (Direct); Common Stock — 85,200 shares (Indirect, By Charitable Trust)

Holdings Before and After: Common Stock, 1,609,919 to 1,309,919 shares (Indirect, By Trust)

Footnotes (6)

1. F1. The sale was undertaken to provide the Reporting Person with liquidity for capital commitments related to private portfolio funds.
2. F2. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $28.855 to $29.75. 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 sold at each separate price within the range.
3. F3. These shares are held directly by the Rodgers Massey Revocable Living Trust dtd 4/4/11 for which the reporting person and his spouse, Valeta Massey, serve as trustees.
4. F4. These shares are held directly by the Valeta Massey 2012 Irrevocable Trust, for which the Reporting Person's spouse serves as trustee.
5. F5. These shares are held directly by the TJ Rodgers 2012 Irrevocable Trust, for which the Reporting Person's spouse serves as trustee.
6. F6. These shares are held directly by the Rodgers Family Freedom and Free Markets Charitable Trust, a charitable remainder trust for which the reporting person and his spouse, Valeta Massey, serve as trustees and of which the reporting person and his spouse are beneficiaries. The reporting person disclaims beneficial ownership except to the extent of his and his spouse's pecuniary interest therein.

Key Figures

Shares sold: 300,000 shares Weighted average sale price: $29.1116 per share Sale price range: $28.855 to $29.75 per share +2 more

5 metrics

Shares sold 300,000 shares Rodgers Massey Revocable Living Trust, November 9, 2026

Weighted average sale price $29.1116 per share Multiple transactions on November 9, 2026

Sale price range $28.855 to $29.75 per share Multiple transactions on November 9, 2026

Direct shares held 4,464 shares Thurman J. Rodgers, following the reported transaction

Charitable trust shares held 85,200 shares Rodgers Family Freedom and Free Markets Charitable Trust, November 9, 2026

Key Terms

weighted average sales price per share, Rule 10b5-1 plan, charitable remainder trust

3 terms

weighted average sales price per share financial

"Represents a weighted average sales price per share."

Rule 10b5-1 plan regulatory

"no Rule 10b5-1 plan is reported"

A Rule 10b5-1 plan is a prearranged, written schedule that lets corporate insiders buy or sell company stock at set times or amounts, even if they later learn material nonpublic information. Think of it like setting an automatic thermostat for trades: it creates a clear record that trades were planned in advance, reducing the risk of insider-trading accusations and helping investors trust that insider transactions are routine rather than based on secret information.

charitable remainder trust financial

"a charitable remainder trust"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many ENPH shares did a trust associated with director Thurman J. Rodgers sell, and at what price?

The Rodgers Massey Revocable Living Trust sold 300,000 common shares on November 9, 2026, at a weighted average price of $29.1116 per share. The shares were sold in multiple transactions at prices from $28.855 to $29.75. The sale was described as providing Rodgers liquidity for capital commitments related to private portfolio funds; no Rule 10b5-1 plan is reported.

How many ENPH shares did Thurman J. Rodgers hold after the sale?

The filing lists 4,464 shares held directly by Rodgers and 85,200 shares held by the Rodgers Family Freedom and Free Markets Charitable Trust. Rodgers and Valeta Massey serve as trustees of that charitable trust. Rodgers disclaims beneficial ownership except to the extent of his and his spouse's pecuniary interest.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →

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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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Rodgers Thurman J

(Last) (First) (Middle)

C/O ENPHASE ENERGY, INC.

47281 BAYSIDE PARKWAY

(Street)

FREMONT CALIFORNIA 94538

(City) (State) (Zip)

UNITED STATES

(Country)

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
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
11/09/2026

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

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

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

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	11/09/2026		S		300,000(1)	D	$29.1116(2)	1,301,719	I	By Trust(3)
Common Stock								4,464	D
Common Stock								4,100	I	By Trust(4)
Common Stock								4,100	I	By Trust(5)
Common Stock								85,200	I	By Charitable Trust(6)

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. The sale was undertaken to provide the Reporting Person with liquidity for capital commitments related to private portfolio funds.

2. Represents a weighted average sales price per share. These shares were sold in multiple transactions at prices ranging from $28.855 to $29.75. 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 sold at each separate price within the range.

3. These shares are held directly by the Rodgers Massey Revocable Living Trust dtd 4/4/11 for which the reporting person and his spouse, Valeta Massey, serve as trustees.

4. These shares are held directly by the Valeta Massey 2012 Irrevocable Trust, for which the Reporting Person's spouse serves as trustee.

5. These shares are held directly by the TJ Rodgers 2012 Irrevocable Trust, for which the Reporting Person's spouse serves as trustee.

6. These shares are held directly by the Rodgers Family Freedom and Free Markets Charitable Trust, a charitable remainder trust for which the reporting person and his spouse, Valeta Massey, serve as trustees and of which the reporting person and his spouse are beneficiaries. The reporting person disclaims beneficial ownership except to the extent of his and his spouse's pecuniary interest therein.

Remarks:

	/s/ Lisan Hung, Attorney-in-Fact for Thurman John Rodgers	11/12/2026
	** 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.
* Form 4: SEC 1474 (03-26)