Yang Mandy 4

What Happened

• Mandy Yang, Chief Financial Officer of Enphase Energy (ENPH), was credited with an award of 21,120 shares on Jan 22, 2026. The Form 4 reports the acquisition as an award/grant at $0.00 per share (code A). These shares were earned under a performance-based stock unit award originally granted Jan 14, 2025 and were certified by Enphase’s Compensation Committee on Jan 22, 2026. The shares are scheduled to vest on Mar 1, 2026, subject to Ms. Yang’s continuous service through that date.

Key Details

• Transaction date: 2026-01-22; transaction type: Award/Grant (code A); reported price: $0.00 per share.
• Shares involved: 21,120 shares granted.
• Shares owned after transaction: Not specified in the provided filing extract.
• Footnotes of note:
  • F1: These are performance-based stock units from the Jan 14, 2025 award, certified Jan 22, 2026; vesting on Mar 1, 2026 subject to continued service.
  • F2 & F3: Refer to shares the reporting person previously contributed to two grantor retained annuity trusts (GRAT 1 and GRAT 2)—estate-planning vehicles, not open-market sales.
• Filing timeliness: Report covers period 2026-01-22 and was filed 2026-01-23 (appears timely).

Context

• This was an award/vesting event, not a market purchase or sale; such grants compensate executives and typically vest over time and/or on performance, so they don’t directly signal immediate buying or selling intent. Contributions to GRATs noted in the filing are estate-planning transfers and similarly do not indicate a liquidity-driven sale.