Kothandaraman Badrinarayanan 4

What Happened
Kothandaraman Badrinarayanan, President & CEO and a Director of Enphase Energy (ENPH), had a total of 39,305 shares withheld by the company on March 1, 2026 to satisfy tax withholding obligations tied to vested equity. The withholdings were reported as dispositions (code F) at $42.27 per share: 4,883 shares ($206,404), 5,935 shares ($250,872), 7,122 shares ($301,047) and 21,365 shares ($903,099). Total value of the withheld shares is approximately $1,661,422. These were tax-withholding share retentions tied to vesting—not open-market sales initiated by the insider.

Key Details

• Transaction date and price: March 1, 2026 at $42.27 per share.
• Shares withheld: 4,883; 5,935; 7,122; 21,365 — total 39,305 shares; total value ≈ $1,661,422.
• Shares owned after transaction: not specified in the provided filing.
• Footnotes: F1–F4 indicate shares were withheld to satisfy tax withholding on vested RSUs (grants dated Mar 8, 2023; Jan 15, 2024; Jan 14, 2025) and performance stock units (grant dated Jan 14, 2025). F5 notes some shares are held directly by a Trust for which the reporting person is trustee (not directly tied to these withheld amounts).
• Filing timeliness: Form filed Mar 3, 2026 for Mar 1 transactions — appears to be filed within normal Form 4 timing.

Context
Code F transactions are routine tax-withholding disposals when restricted or performance shares vest; the company withholds shares rather than the insider selling on the open market. Such withholdings are administrative and do not necessarily signal the insider’s view of the company’s stock.