Enphase Energy Management

Management criteria checks 3/4

Enphase Energy's CEO is Badri Kothandaraman, appointed in Sep 2017, has a tenure of 6.58 years. total yearly compensation is $19.53M, comprised of 2.3% salary and 97.7% bonuses, including company stock and options. directly owns 1.17% of the company’s shares, worth €166.82M. The average tenure of the management team and the board of directors is 2.3 years and 7.3 years respectively.

Key information

Badri Kothandaraman

Chief executive officer

US$19.5m

Total compensation

CEO salary percentage	2.3%
CEO tenure	6.6yrs
CEO ownership	1.2%
Management average tenure	2.3yrs
Board average tenure	7.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Badri Kothandaraman's remuneration changed compared to Enphase Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Dec 31 2023	US$20m	US$450k	US$439m
Sep 30 2023	n/a	n/a	US$572m
Jun 30 2023	n/a	n/a	US$573m
Mar 31 2023	n/a	n/a	US$492m
Dec 31 2022	US$17m	US$450k	US$397m
Sep 30 2022	n/a	n/a	US$296m
Jun 30 2022	n/a	n/a	US$203m
Mar 31 2022	n/a	n/a	US$166m
Dec 31 2021	US$19m	US$450k	US$145m
Sep 30 2021	n/a	n/a	US$166m
Jun 30 2021	n/a	n/a	US$183m
Mar 31 2021	n/a	n/a	US$97m
Dec 31 2020	US$5m	US$450k	US$134m
Sep 30 2020	n/a	n/a	US$178m
Jun 30 2020	n/a	n/a	US$169m
Mar 31 2020	n/a	n/a	US$227m
Dec 31 2019	US$4m	US$450k	US$161m
Sep 30 2019	n/a	n/a	US$45m
Jun 30 2019	n/a	n/a	US$11m
Mar 31 2019	n/a	n/a	-US$4m
Dec 31 2018	US$3m	US$450k	-US$12m
Sep 30 2018	n/a	n/a	-US$15m
Jun 30 2018	n/a	n/a	-US$19m
Mar 31 2018	n/a	n/a	-US$27m
Dec 31 2017	US$2m	US$288k	-US$45m

Compensation vs Market: Badri's total compensation ($USD19.53M) is above average for companies of similar size in the German market ($USD5.55M).

Compensation vs Earnings: Badri's compensation has been consistent with company performance over the past year.

CEO

Badri Kothandaraman (50 yo)

6.6yrs

Tenure

US$19,527,534

Compensation

Mr. Badrinarayanan Kothandaraman, also known as Badri, is the President, Chief Executive Officer and Director of Enphase Energy, Inc. since September 3, 2017. Mr. Kothandaraman joined Enphase Energy, Inc....

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Badrinarayanan Kothandaraman	President	6.6yrs	US$19.53m	1.17% $ 166.8m
Mandy Yang	EVP & CFO	2.2yrs	US$6.66m	0.049% $ 7.0m
David Ranhoff	Executive VP & Chief Commercial Officer	no data	US$16.33m	0.059% $ 8.4m
Martin Fornage	Co-Founder	18.1yrs	US$1.05m	no data
Raghuveer Belur	SVP, Co-founder & Chief Products Officer	18.1yrs	US$758.90k	no data
Ron Swenson	Senior VP of Operations & VP of Supply Chain	2.3yrs	no data	no data
Hans Antwerpen	SVP & CTO	2.3yrs	no data	no data
Zachary Freedman	Head of Investor Relations	no data	no data	no data
Lisan Hung	Senior VP	no data	no data	no data
Sunil Thamaran	Senior VP & Chief People Officer	2.3yrs	no data	no data
Nitish Mathur	Senior Vice President of Customer Experience	less than a year	no data	no data
Sabbas Daniel	Senior VP of Quality & Sales	less than a year	no data	no data

2.3yrs

Average Tenure

55yo

Average Age

Experienced Management: E0P's management team is considered experienced (2.3 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Badrinarayanan Kothandaraman	President	6.6yrs	US$19.53m	1.17% $ 166.8m
Thurman Rodgers	Independent Director	7.3yrs	US$334.85k	1.76% $ 252.4m
Steven Gomo	Chairman & Lead Independent Director	13.1yrs	US$374.99k	0.10% $ 14.6m
Richard Mora	Independent Director	10.2yrs	US$334.85k	0.0020% $ 289.2k
Jamie Rosand Haenggi	Independent Director	3.7yrs	US$314.85k	0.0053% $ 760.2k
Benjamin Kortlang	Independent Director	13.9yrs	US$334.85k	0.15% $ 21.7m
Joseph Malchow	Director	4.2yrs	US$309.85k	0.041% $ 5.9m

7.3yrs

Average Tenure

53yo

Average Age

Experienced Board: E0P's board of directors are considered experienced (7.3 years average tenure).

Enphase Energy Management

Management criteria checks 3/4

Key information

Recent management updates

David Ranhoff to Step Down as Executive Vice President and Chief Commercial Officer of Enphase Energy, Inc., Effective as of June 30, 2024

Independent Director recently bought €3.8m worth of stock

Insufficient new directors

Chief Commercial Officer recently sold €293k worth of stock

Independent Director recently bought €5.0m worth of stock

Insufficient new directors

Recent updates

Enphase Energy, Inc. Launches Power Control Software for its Home Solar and Battery Systems

New major risk - Share price stability

David Ranhoff to Step Down as Executive Vice President and Chief Commercial Officer of Enphase Energy, Inc., Effective as of June 30, 2024

Enphase Energy Launches IQ8P Microinverters for High-Powered Solar Modules in France and Spain

Enphase Energy, Inc. Launches IQ8P Microinverters for High-Powered Solar Modules in Thailand and the Philippines

Investor sentiment deteriorates as stock falls 18%

Now 23% undervalued

Now 21% undervalued

Enphase Energy, Inc. Announces Key Improvements and New Features for Solargraf, Its Cloud-Based Design, Proposal, and Permitting Software Platform

Now 22% undervalued

Full year 2023 earnings released: EPS: US$3.22 (vs US$2.94 in FY 2022)

Enphase Energy, Inc. Provides Earning Guidance for the First Quarter of 2024

Enphase Energy, Inc. Starts Shipping IQ8 Microinverters in Belgium

Now 21% undervalued after recent price drop

Investor sentiment improves as stock rises 26%

Enphase Energy, Inc Launches New Home Energy Systems in Italy with IQ Battery 5P and IQ8 Microinverters

Enphase Energy, Inc. Launches New Iq8p Microinverters for High-Powered Solar Modules in Mexico

Enphase Energy, Inc. Launches New IQ8 Commercial Microinverters in North America

Investor sentiment improves as stock rises 16%

Enphase Energy Launches New IQ8 Microinverters for High-Powered Solar Modules in Austria

Enphase Energy, Inc. Announces Launch of IQ8 Microinverters and IQ Energy Router Family of Devices in Switzerland

New major risk - Share price stability

Third quarter 2023 earnings released: EPS: US$0.84 (vs US$0.85 in 3Q 2022)

Investor sentiment deteriorates as stock falls 22%

Enphase Energy, Inc. Expands into South Africa with IQ8 Microinverters for High-Powered Solar Modules

Enphase Energy, Inc. Releases Its Solargraf Design and Proposal Software Platform in Germany and Austria

Independent Director recently bought €3.8m worth of stock

Insufficient new directors

Enphase Energy, Inc. Announces Comprehensive Solution for California NEM 3.0

Investor sentiment deteriorates as stock falls 15%

Enphase Energy, Inc. Provides Earnings Guidance for Third Quarter of 2023

Second quarter 2023 earnings released: EPS: US$1.15 (vs US$0.57 in 2Q 2022)

Enphase Energy, Inc. Launches New IQ8 Microinverters for High-Powered Solar Modules in Germany

Enphase Energy, Inc. Launches New Home Energy Management Solution in Germany and Austria

Chief Commercial Officer recently sold €293k worth of stock

Enphase Energy, Inc. Launches Most Powerful Home Battery in the United States and Puerto Rico with IQ Battery 5P

Enphase Energy, Inc Expands IQ Microinverter Deployments in the United Kingdom

Investor sentiment deteriorates as stock falls 29%

Independent Director recently bought €5.0m worth of stock

First quarter 2023 earnings released: EPS: US$1.08 (vs US$0.39 in 1Q 2022)

Investor sentiment improves as stock rises 17%

Insufficient new directors

Full year 2022 earnings released: EPS: US$2.94 (vs US$1.09 in FY 2021)

Enphase Energy, Inc. Provides Guidance for the First Quarter of 2023

Enphase Energy, Inc. Demonstrates Bidirectional Electric Vehicle Charger Technology

Enphase Energy, Inc. Expands Solar Deployments in Brazil

Enphase Energy, Inc. Expands IQ8 Microinverter Deployments in the Netherlands

Executive VP & Chief Advisor recently sold €4.6m worth of stock

Director recently sold €3.7m worth of stock

Lead Independent Director recently sold €7.3m worth of stock

Lead Independent Director recently sold €7.3m worth of stock

Third quarter 2022 earnings released: EPS: US$0.85 (vs US$0.16 in 3Q 2021)

Enphase Energy, Inc. Provides Earnings Guidance for the Fourth Quarter of 2022

Enphase Energy, Inc. (NasdaqGM:ENPH) completed the acquisition of GreenCom Networks AG.

Enphase Energy, Inc. (NasdaqGM:ENPH) completed the acquisition of GreenCom Networks AG.

Enphase Energy, Inc. (NasdaqGM:ENPH) agreed to acquire GreenCom Networks AG.

Enphase Energy, Inc. Expands Clippercreek Product Deployments in the United States

Independent Director recently sold €13m worth of stock

Enphase Energy, Inc. Provides Financial Guidance for the Third Quarter of 2022

Second quarter 2022 earnings released: EPS: US$0.57 (vs US$0.29 in 2Q 2021)

Enphase Energy, Inc. Announces Executive Changes

Director recently sold €2.3m worth of stock

Independent Director recently sold €4.6m worth of stock

Enphase Energy, Inc. Installers in Australia Expand Adoption of IQ Microinverters Due to Their Safe AC Architecture

Enphase Energy, Inc. Announces IQ Battery Compatibility with Third-Party Inverters in Europe

First quarter 2022 earnings released: EPS: US$0.39 (vs US$0.24 in 1Q 2021)

Enphase Energy Provides Earnings Guidance for the Second Quarter 2022

Enphase Energy, Inc., Annual General Meeting, May 18, 2022

Director recently sold €634k worth of stock