Badrinarayanan Kothandaraman - May 17, 2021 Form 4 Insider Report for Enphase Energy, Inc. (ENPH)

Role: President & CEO, Director
Signature: /s/ Lisan Hung, Attorney-in-Fact for Badri Kothandaraman
Stock symbol: ENPH
Transactions as of: May 17, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/19/2021, 05:03 PM
Next filing: Jul 2, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	ENPH	Common Stock	Options Exercise	$150K	+114K	+12.8%	$1.31^*	1.01M	May 17, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	ENPH	Stock Option (Right to Buy)	Options Exercise	-$150K	-114K	-17.07%	$1.31^*	555K	May 17, 2021	Common Stock	114K	$1.31	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Balance includes a non-reportable acquisition of 1,294 shares purchased through the Company's 2011 Employee Stock Purchase Plan on May 15, 2021.
F2	1/4 of the total number of shares subject to the Option vested and became exercisable on April 10, 2018 and thereafter in equal monthly installments until the Option became fully vested on April 10, 2021.