[Form 4] Enphase Energy, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Enphase Energy (ENPH) Form 4 filing: On 08/06/2025, President & CEO Badri Kothandaraman, through a trust, purchased 5,000 shares of common stock at a weighted-average price of $30.824 per share (Rule 10b5-1 indicated). Following the trade, the trust’s indirect beneficial ownership rose to 1,620,632 shares. The filing notes that the reported balance also includes 420 shares acquired on 05/15/2025 via the company’s 2011 Employee Stock Purchase Plan. No derivative securities transactions were reported.

The Form 4 was filed by a single reporting person and signed by an attorney-in-fact. No dispositions, option exercises, or additional insider relationships were disclosed.

Positive

• Insider purchase: CEO acquired 5,000 shares at $30.824, an open-market buy typically viewed as a confidence signal.
• Large residual stake: Post-trade beneficial ownership totals 1,620,632 shares, maintaining significant alignment with shareholders.

Negative

• None.

Insights

Securities Analyst

TL;DR: CEO’s 5k-share open-market buy signals confidence; impact modest given 1.6 M-share stake.

The purchase adds roughly US$154 k of stock and raises Badri Kothandaraman’s indirect holdings to over 1.62 M shares, or about 1% of Enphase’s outstanding shares (exact float not provided). While the dollar amount is relatively small versus existing ownership, any open-market buy—especially under Rule 10b5-1—tends to be read positively as it reflects management’s valuation view after recent price weakness. No sales or option exercises accompanied the transaction, keeping overall insider activity net-positive.

Corporate Governance Expert

TL;DR: Clean Form 4, indirect trust holding, no red flags; incremental alignment with shareholders.

The filing is straightforward: a single trade executed under an established 10b5-1 plan. Ownership remains indirect via a trust, but trustee status preserves voting/ economic exposure. No complex derivatives or aggressive selling patterns appear, supporting good governance optics. Impact is incremental but favorable for shareholder alignment.

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^*

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)
08/06/2025

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	08/06/2025		P		5,000	A	$30.824(1)	1,620,632	I	By Trust(2)
Common Stock								70,820(3)	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 $30.74 to $30.87. 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. Balance includes a non-reportable acquisition of 420 shares purchased through the Enphase Erergy, Inc. 2011 Employee Stock Purchase Plan on May 15, 2025.

Remarks:

	/s/ Lisan Hung, Attorney-in-Fact for Badri Kothandaraman	08/06/2025
	** 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

How many Enphase Energy (ENPH) shares did the CEO buy on 08/06/2025?

The Form 4 reports a purchase of 5,000 common shares executed on 08/06/2025.

At what price were the ENPH shares purchased?

The weighted-average purchase price was $30.824 per share, with individual trades ranging from $30.74 to $30.87.

What is the CEO’s total beneficial ownership after this transaction?

Following the trade, Badri Kothandaraman indirectly holds 1,620,632 ENPH shares via a trust.

Were any derivative securities (options, warrants) involved?

No. The Form 4 shows no derivative securities acquired or disposed of in this filing.

Does the filing mention a Rule 10b5-1 trading plan?

Yes, the checkbox indicates the transaction was made pursuant to a Rule 10b5-1(c) plan.