ENPHASE ENERGY, INC. (NASDAQ:ENPH) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02. Departure of Directors or Certain Officers: Election of Directors; Appointment of Certain Officers; Compensation Arrangements of Certain Officers
2018 Bonus Program
On March 7, 2018, the Board of Directors of Enphase Energy, Inc. (“Company”) approved a 2018 performance bonus program (the “2018 Bonus Program”) for the Company’s executive officers and other employees. The 2018 Bonus Program is summarized in Exhibit 10.1 and incorporated by reference.
Target incentive bonus opportunities for the Company’s named executive officers, which will be applicable to the 2018 Bonus Program, are as set forth in the table below.
|
Named Executive Officer |
2018 Target Bonus Opportunity (% of Base Salary) |
|
Badrinarayanan Kothandaraman, President and Chief Executive Officer |
50% |
|
Humberto Garcia, Vice President and Chief Financial Officer |
75% |
|
David Ranhoff, Vice President and Chief Operating Officer |
75% |
Item 5.02. Financial Statements and Exhibits.
(d) Exhibits.
|
Exhibit Number |
Description |
|
2018 Bonus Program Summary.
|
Enphase Energy, Inc. ExhibitEX-10.1 2 a8-k03092018ex101.htm EXHIBIT 10.1 Exhibit Exhibit 10.1 Summary of 2018 Bonus Program The following is a summary description of the terms and conditions of the 2018 Bonus Program,…To view the full exhibit click here
About ENPHASE ENERGY, INC. (NASDAQ:ENPH)
Enphase Energy, Inc. is a provider of energy management solutions. The Company is engaged in designing, developing, manufacturing and selling microinverter systems for the solar photovoltaic industry. Its semiconductor-based microinverter system converts direct current (DC) electricity to alternating current (AC) electricity. Its microinverter system consists of three components: Enphase microinverters, an Envoy gateway and Enlighten cloud-based software. Its Enphase microinverters provide power conversion at the individual solar module level by a digital architecture that incorporates custom application specific integrated circuits (ASIC), specialized power electronics devices, and an embedded software subsystem. Envoy bi-directional communications gateway provides collecting and sending data to Enlighten software. Enlighten cloud-based software provides the capabilities to remotely monitor, manage, and maintain an individual system or a fleet of systems.