Enphase Energy (ENPH) executive compensation, 2026 proxy

Badrinarayanan Kothandaraman, President and CEO, was paid $9.6M in 2025, down 24% from $12.6M the year before. The CEO-to-median-employee pay ratio was 162:1, on median employee pay of $59,250.

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Filed
April 1, 2026
Annual meeting
May 13, 2026
Pay year
2025
Named executives
2
CEO total pay
$9.6M-24% vs prior year
CEO to median employee
162:1median $59,250
CEO pay in equity
92%$8.8M in awards
Prior say-on-pay support
85%of votes cast
CEO Target Bonus
100%Percentage of base salary
CFO Target Bonus
75%Percentage of base salary
Say-on-Pay Support
85.4%Prior year approval
Net Revenues
$1.5BFor fiscal 2025

How Kothandaraman was paid

$9.6M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.

Salary5%Stock awards92%Non-equity incentive3%All other compensation0%

Named executive officers

ExecutiveTotal
Badrinarayanan KothandaramanPresident and CEO$9,601,958
Mandy YangEVP and CFO$5,293,375

What changed and why

  • $9.6MCEO total compensation decreased to $9,601,958 in fiscal 2025 from $12,630,005 in fiscal 2024.
  • Base salaries and target cash incentives for both the CEO and CFO have remained flat since 2023.
  • 68%Under the 2025 Bonus Program, the CEO received 68% and the CFO received 74% of their target annual payouts.
  • 67%67% of the overall value of stock awards for NEOs were tied to performance metrics.
  • 68%68% of the CEO total target compensation and 67% of the CFO total target compensation were at risk.

About this page

Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.