What is Mandy Yang’s Enphase (ENPH) share ownership after the Form 4 filing?

After the reported tax withholdings, Mandy Yang directly owned 91,657 Enphase common shares. In addition, 25,000 shares were held through GRAT 1 and another 25,000 shares through GRAT 2, reflecting indirect ownership via these grantor retained annuity trusts.

Which equity awards triggered Enphase (ENPH) share withholdings for Mandy Yang?

The share withholdings related to multiple equity awards granted to Mandy Yang. These included RSUs granted on March 8, 2023, January 15, 2024, January 14, 2025, and performance stock units granted on January 14, 2025, all vesting and creating associated tax obligations.

Enphase Energy (ENPH) CFO reports tax-share withholdings on RSU vesting

Filing Impact

(Very High)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Enphase Energy EVP and CFO Mandy Yang reported several tax-related share dispositions on March 1, 2026. A total of 19,570 shares of common stock were withheld by Enphase at $42.27 per share to cover tax obligations tied to vesting RSUs and performance stock units granted in 2023, 2024, and 2025. After these non-market transactions, Yang held 91,657 shares directly, and an additional 25,000 shares each were held indirectly through GRAT 1 and GRAT 2.

Insider Trade Summary

6 transactions reported

Mixed 6 txns

Insider Yang Mandy

Role EVP, Chief Financial Officer

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	1,664	$42.27	$70K
Tax Withholding	Common Stock	3,023	$42.27	$128K
Tax Withholding	Common Stock	3,721	$42.27	$157K
Tax Withholding	Common Stock	11,162	$42.27	$472K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 109,563 shares (Direct); Common Stock — 25,000 shares (Indirect, By GRAT 1)

Footnotes (1)

Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on March 8, 2023. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on January 15, 2024. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on January 14, 2025. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of performance stock units granted to the Reporting Person on January 14, 2025. Represents shares previously owned directly by the reporting person that were contributed to grantor retained annuity trust ("GRAT 1"). Represents shares previously owned directly by the reporting person that were contributed to grantor retained annuity trust ("GRAT 2").

Form 4 Insider Transactions: What Each Field Means →

03/03/2026 - 06:01 PM

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^*

Yang Mandy

(Last)

(First)

(Middle)

C/O ENPHASE ENERGY, INC.

47281 BAYSIDE PARKWAY

(Street)

FREMONT

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)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	EVP, Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/01/2026		F		1,664⁽¹⁾	D	$42.27	109,563	D
Common Stock	03/01/2026		F		3,023⁽²⁾	D	$42.27	106,540	D
Common Stock	03/01/2026		F		3,721⁽³⁾	D	$42.27	102,819	D
Common Stock	03/01/2026		F		11,162⁽⁴⁾	D	$42.27	91,657	D
Common Stock								25,000	I	By GRAT 1⁽⁵⁾
Common Stock								25,000	I	By GRAT 2⁽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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on March 8, 2023.

2. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on January 15, 2024.

3. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of RSUs granted to the Reporting Person on January 14, 2025.

4. Represents shares withheld by the Issuer to satisfy the tax withholding obligation associated with the vesting of performance stock units granted to the Reporting Person on January 14, 2025.

5. Represents shares previously owned directly by the reporting person that were contributed to grantor retained annuity trust ("GRAT 1").

6. Represents shares previously owned directly by the reporting person that were contributed to grantor retained annuity trust ("GRAT 2").

Remarks:

	/s/ Lisan Hung, Attorney-in-Fact for Mandy Yang	03/03/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Enphase Energy (ENPH) report for Mandy Yang?

Enphase Energy reported that EVP and CFO Mandy Yang had shares withheld to cover tax obligations. On March 1, 2026, Enphase withheld common stock tied to vesting RSUs and performance stock units instead of Yang selling shares in the open market.

How many Enphase (ENPH) shares were withheld for Mandy Yang’s taxes?

Enphase withheld a total of 19,570 common shares for Mandy Yang’s tax obligations. These withholdings occurred at a price of $42.27 per share in connection with vesting restricted stock units and performance stock units granted in 2023, 2024, and 2025.

Were Mandy Yang’s Enphase (ENPH) transactions open-market sales?

The transactions were not open-market sales but tax-withholding dispositions. Enphase withheld shares to satisfy tax liabilities arising from the vesting of restricted stock units and performance stock units previously granted to Mandy Yang, according to the Form 4 footnotes.

How are GRAT 1 and GRAT 2 involved in Mandy Yang’s Enphase (ENPH) holdings?

GRAT 1 and GRAT 2 each hold 25,000 Enphase shares as indirect ownership for Mandy Yang. The footnotes explain that these shares were previously owned directly by her and then contributed to each grantor retained annuity trust, changing their ownership classification to indirect.