Form 4: Enphase CEO now holds 1,630,632 shares indirectly

Rhea-AI Filing Summary

Enphase Energy (ENPH) — CEO share purchase reported. On 10/31/2025, President & CEO and Director Badri Kothandaraman reported buying 10,000 shares of Enphase common stock at a weighted average price of $30.9317. Following this transaction, beneficial ownership totals 1,630,632 shares held indirectly by a Trust and 70,820 shares held directly. The filing notes the purchases occurred in multiple trades between $30.69 and $30.98, with full trade-by-trade details available upon request.

Insights

Insider Transactions Analyst

CEO purchased shares on the open market, increasing beneficial ownership; generally a favorable governance signal.

The President & CEO and Director of Enphase Energy, Inc. reported an open‑market purchase (code P) of 10,000 common shares on 10/31/2025 at a weighted average price of $30.9317 across trades ranging from $30.69 to $30.98. Following the transaction, reported beneficial ownership stands at 1,630,632 shares held indirectly by a trust and 70,820 shares held directly.

This filing matters because it reflects an increase in insider ownership by the top executive, aligning leadership with shareholders through additional exposure to common stock. No derivative transactions were reported in this filing, which indicates the reported change came from common stock purchases rather than option exercises or other instruments.

Key items to watch include subsequent Forms 4 for additional purchases or sales, any future disclosure of trading plans, and consistency of ownership levels over time. The next relevant datapoints would be any new ownership changes reported after 11/03/2025 and future reporting periods.

Insider Trade Summary

Net Buyer: 10,000 shares ($309,317)

Net Buy 2 txns

Insider Kothandaraman Badrinarayanan

Role President & CEO

Bought 10,000 shs ($309K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	10,000	$30.9317	$309K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 1,630,632 shares (Indirect, By Trust); Common Stock — 70,820 shares (Direct)

Footnotes (1)

1. Represents a weighted average purchase price per share. These shares were purchased in multiple transactions at prices ranging from $30.69 to $30.98. 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. These shares are held directly by the Trust of which the Reporting Person serves as a trustee.

Form 4 Insider Transactions: What Each Field Means →

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)
10/31/2025

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	10/31/2025		P		10,000	A	$30.9317(1)	1,630,632	I	By Trust(2)
Common Stock								70,820	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 $30.69 to $30.98. 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.

Remarks:

	/s/ Lisan Hung, Attorney-in-Fact for Badri Kothandaraman	11/03/2025
	** 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 ENPH's CEO report in the Form 4?

A purchase of 10,000 shares of Enphase common stock on 10/31/2025.

What price did the CEO pay for the ENPH shares?

A $30.9317 weighted average price per share, across trades from $30.69 to $30.98.

How many ENPH shares does the CEO own after the transaction?

Beneficial ownership is 1,630,632 shares indirectly by a Trust and 70,820 shares directly.

What is the reporting person’s relationship to Enphase (ENPH)?

He is a Director and an Officer serving as President & CEO.

How were the ENPH purchases executed?

They were executed in multiple transactions within a range of $30.69 to $30.98, with detailed breakdowns available upon request.

How are the newly purchased shares held?

The shares are held indirectly by a Trust for which the reporting person serves as a trustee.