Yang Mandy 4

What Happened

• Mandy Yang, Chief Financial Officer of Enphase Energy (ENPH), received a grant of 21,120 restricted stock units (RSUs) on January 29, 2026. The award was reported with an acquisition price of $0.00 (typical for RSU grants), so no cash changed hands at grant.

Key Details

• Transaction date: 2026-01-29; Filing date: 2026-01-30 (timely).
• Grant size and price: 21,120 RSUs granted at $0.00.
• Vesting: 1/3 vests on March 1, 2027; 1/3 on March 1, 2028; 1/3 on March 1, 2029, subject to continuous service (per footnote F2).
• Shares owned after the transaction: not specified in the provided filing summary.
• Footnotes of note:
  • F1: RSUs issued under the Issuer's 2021 Equity Incentive Plan.
  • F3 & F4 mention shares previously owned were contributed to grantor retained annuity trusts (GRAT 1 and GRAT 2); these refer to prior transfers of personally held shares, not to the new RSU grant.
• Transaction type code: A = Award/Grant.

Context

• RSU grants are compensation awards that convert to actual shares only as they vest; they are not an immediate purchase and do not by themselves signal a buy/sell decision by the insider.
• The $0 grant price is standard for RSUs. Because vesting is time-based and tied to continued service, this award primarily reflects compensation incentives rather than an immediate market trade.