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

Rhea-AI Filing Summary

On 08/05/2025, ACCO Brands (ticker: ACCO) filed a Form 4 disclosing that its SVP, General Counsel & Corporate Secretary, Kathryn D. Ingraham, received an equity award of 28,491 Restricted Stock Units (RSUs) under the company’s Incentive Plan. Each RSU entitles the holder to one share of ACCO common stock on 08/05/2028, contingent upon continued employment, with no exercise price.

No common-stock purchases or sales were reported, and the filing lists 28,491 derivative securities as beneficially owned after the transaction. The grant represents routine executive compensation and does not immediately change the public float; any dilution would occur only upon settlement in 2028.

Insights

Equity Compensation Analyst

TL;DR Routine RSU grant to ACCO SVP; aligns incentives, minimal near-term dilution, neutral impact on valuation.

The Form 4 records a single Type A transaction: an award of 28,491 RSUs to a senior officer with a three-year cliff vest. Such grants are common for retention and alignment and signal no change in insider sentiment because there were no open-market purchases or sales. At ACCO’s recent price (~$6), the package is worth roughly $0.17 million, immaterial versus the company’s market cap. Dilution potential is <0.04% of outstanding shares and deferred until 2028, so balance-sheet and EPS impact are negligible today. Investors should view the filing as neutral housekeeping rather than a catalyst.

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
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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)
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

What did ACCO Brands file on 08/06/2025?

A Form 4 reporting an insider equity transaction for SVP Kathryn D. Ingraham.

How many RSUs were granted to SVP Kathryn Ingraham?

She received 28,491 Restricted Stock Units.

When will the RSUs awarded to the ACCO insider vest?

They convert to common stock on 08/05/2028, subject to continued employment.

Did the insider sell or purchase any ACCO shares?

No. The filing shows only an RSU grant; no shares were bought or sold.

Does the RSU grant materially dilute existing ACCO shareholders?

Dilution is minimal (<0.04% of shares) and deferred until the RSUs settle in 2028.