Tech — Hardware
Enphase Energy Executive Compensation (FY25)
ENPH · Fremont, CA · Executive and director compensation, fiscal 2022 to 2025
Data as of September 7, 2026Latest filing (8-K): May 15, 2026
163 figures on this page: 154 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
Badrinarayanan Kothandaraman, President and Chief Executive Officer, received $9,601,958 in total compensation for fiscal 2025, and Kothandaraman's total moved 50.8% lower from the $19,527,534 reported for fiscal 2023. The say-on-pay proposal drew 91.0% of votes cast for or against in favor at the meeting held May 13, 2026 for fiscal 2025. Companies named in the disclosed peer group include Bloom Energy Corporation, Entegris, Inc., Everpure, Inc., First Solar, Inc. and Generac Holdings, Inc., among others. The company reported 2 named executive officers for fiscal 2025.
What changed from fiscal 2023 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Badrinarayanan Kothandaraman: $19,527,534 → $9,601,958 (50.8% lower)
Say-on-pay support: 85.5% → 91.0% (5.5 points higher)
Frequently asked questions
Answers drawn from the data on this page.
Who is Enphase Energy's chief executive and what were they paid?
Badrinarayanan Kothandaraman, President and Chief Executive Officer, received $9,601,958 in total compensation for fiscal 2025. Kothandaraman's total moved 50.8% lower from the $19,527,534 reported for fiscal 2023.
What was Enphase Energy's say-on-pay result?
The say-on-pay proposal drew 91.0% of votes cast for or against in favor at the meeting held May 13, 2026 for fiscal 2025.
Which companies are in Enphase Energy's peer group?
Companies named in the disclosed peer group include Bloom Energy Corporation, Entegris, Inc., Everpure, Inc., First Solar, Inc. and Generac Holdings, Inc., among others.
Executive compensation
Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Badrinarayanan Kothandaraman President and CEO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mandy Yang Executive Vice President and CFO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Jeffrey McNeil Chief Advisor and Former EVP and COO Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
David Ranhoff Executive Vice President and CCO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Eric Branderiz Former CFO Departed during or after this year | ◇ | — | ◇ | — | — | — | ◇ | ◇ |
Fiscal 2023
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Badrinarayanan Kothandaraman President and CEO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
David Ranhoff Commercial Advisor; Former EVP and CCO Departed during or after this year | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mandy Yang EVP and CFO | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Fiscal 2025
| Officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|---|
Badrinarayanan Kothandaraman President and Chief Executive Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
Mandy Yang Executive Vice President and Chief Financial Officer | ◇ | — | ◇ | — | ◇ | — | ◇ | ◇ |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.
Equity awards granted
Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
| Officer | Award | Grant date | Threshold units | Target units | Units granted | Maximum units | Exercise price | Grant date fair value |
|---|---|---|---|---|---|---|---|---|
| Badrinarayanan Kothandaraman | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Badrinarayanan Kothandaraman | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Badrinarayanan Kothandaraman | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
| David Ranhoff | PSU | ◇ | — withheld | ◇ | — | ◇ | — | ◇ |
| David Ranhoff | PSU | ◇ | — withheld | ◇ | — | ◇ | — | ◇ |
| Mandy Yang | PSU | ◇ | ◇ | ◇ | — | ◇ | — | ◇ |
| Mandy Yang | RSU | ◇ | — | — | ◇ | — | — | ◇ |
| Mandy Yang | PSU | ◇ | — | ◇ | — | ◇ | — | ◇ |
Fiscal 2023, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.
Outstanding awards
Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
| Officer | Award | Unvested units | Market value of unvested units | Exercise price | Expires |
|---|---|---|---|---|---|
| Mandy Yang | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| Badrinarayanan Kothandaraman | RSU | ◇ | ◇ | — | — |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — | |
| RSU | ◇ | ◇ | — | — |
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director compensation
What each non-employee director was paid.
Fiscal 2025
| Director | Fees earned in cash | Stock awards | Option awards | Non-equity incentive | Pension and deferred earnings | All other compensation | Total |
|---|---|---|---|---|---|---|---|
Steven J. Gomo Lead independent director | ◇ | ◇ | — | — | — | — | ◇ |
Thurman John Rodgers | ◇ | ◇ | — | — | — | — | ◇ |
Richard Mora | ◇ | ◇ | — | — | — | — | ◇ |
Benjamin Kortlang | ◇ | ◇ | — | — | — | — | ◇ |
Jamie Haenggi | ◇ | ◇ | — | — | — | — | ◇ |
Joseph Malchow | ◇ | ◇ | — | — | — | — | ◇ |
Badrinarayanan Kothandaraman served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.
Director fee schedule
The standing retainers and premiums the board pays, as published.
| Board cash retainer | ◇ |
| Board equity retainer | ◇ |
| Total board retainer | ◇ |
| Board chair premium | ◇ |
| Audit committee chair | ◇ |
| Audit committee member | ◇ |
| Compensation committee chair | ◇ |
| Compensation committee member | ◇ |
| Nominating and governance chair | ◇ |
| Nominating and governance member | ◇ |
Disclosed peer group
The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
- Bloom Energy Corporation BE
- Entegris, Inc. ENTG
- Everpure, Inc. P
- First Solar, Inc. FSLR
- Generac Holdings, Inc. GNRC
- Monolithic Power Systems, Inc. MPWR
- Nextpower Inc. NXT
- Qorvo, Inc. QRVO
- Resideo Technologies, Inc. REZI
- Rivian Automotive, Inc. RIVN
- Skyworks Solutions, Inc. SWKS
- SolarEdge Technologies, Inc. SEDG
- SunPower, Inc. SPWR
- Sunrun, Inc. RUN
- Teradyne, Inc. TER
- Wolfspeed, Inc. WOLF
- Zebra Technologies Corporation ZBRA
Say-on-pay history
Shareholder support for the compensation program, by year.
| Year | Meeting | Support | Votes for | Votes against | Abstentions |
|---|---|---|---|---|---|
| 2025 | May 13, 2026 | = | ◇ | ◇ | ◇ |
| 2024 | May 14, 2025 | = | ◇ | ◇ | ◇ |
| 2023 | May 15, 2024 | = | ◇ | ◇ | ◇ |
| 2022 | May 17, 2023 | = | ◇ | ◇ | ◇ |
| 2021 | May 18, 2022 | = | ◇ | ◇ | ◇ |
| 2020 | May 19, 2021 | = | ◇ | ◇ | ◇ |
| 2019 | May 20, 2020 | = | ◇ | ◇ | ◇ |
| 2018 | May 15, 2019 | = | ◇ | ◇ | ◇ |
| 2017 | May 17, 2018 | = | ◇ | ◇ | ◇ |
What this page does not include
Everything above is a fact Enphase Energy disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Enphase Energy sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $1,200Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion IntelligenceAdviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Enquire about accessMultiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion IntelligenceCitations
Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
163 figures on this page: 154 cited to the filing that reported them, 9 calculated from figures it prints.
154 cited to the filing
9 calculated from the filing
Documents cited
- 0001463101-26-000049
- 0001463101-26-000026Director Compensation · Grants of Plan-Based Awards · Grants of Plan-Based Awards - 2025 · Non-Employee Director Compensation · and 2 more sections
- 0001463101-25-000075
- 0001463101-24-000088
- 0001463101-24-000049Executive Compensation Tables · Summary Compensation Table
- 0001463101-23-000106
- 0001463101-23-000061Summary Compensation Table · Summary Compensation Table - 2022, 2021 and 2020
- 0001463101-22-000063
- 0001463101-21-000083
- 0001463101-20-000075
- 0001463101-19-000096Item 5.07 Submission of Matters to a Vote of Security Holders
- 0001463101-18-000051
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Enphase Energy executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/ENPH (accessed 2026).
Short form: data: Velarion
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Enphase Energy and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Tech — Hardware rankings
Peers Enphase Energy discloses
The companies named in ENPH's own disclosed peer group.
Terms on this page
Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
author = {{Velarion Company Intelligence}},
title = {Velarion database: executive and board compensation data},
year = {2026},
version = {2026Q3},
doi = {10.5281/zenodo.22283854},
publisher = {Zenodo},
url = {https://doi.org/10.5281/zenodo.22283854}
}