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 Officers
Item 5.02. Departure of Directors or Certain Officers; Election
of Directors; Appointment of Certain Officers; Compensatory
Arrangements of Certain Officers.
Badrinarayanan Kothandaraman, 45, as the Companys Chief Operating
Officer with immediate effect.
with a target bonus opportunity of 75% of his base salary. Mr.
Kothandaraman will also receive an initial stock option grant of
1,000,000 shares. The stock option grant will vest over 4 years
from Mr. Kothandaramans appointment, based on his continued
service with the Company. In addition, the Compensation Committee
of the Companys Board of Directors has designated Mr.
Kothandaraman as a Tier III Participant in the Companys Severance
and Change in Control Benefit Plan, previously filed with the
Securities and Exchange Commission as Exhibit 10.50 to the
Quarterly Report on Form 10-Q for the quarter ended March 31,
2013.
Kothandaraman and any other person to which Mr. Kothandaraman was
selected as Chief Operating Officer. Mr. Kothandaraman has no
family relationships with any of the Companys directors or
executive officers, and he has no direct or indirect material
interest in any transaction required to be disclosed to Item
404(a) of Regulation S-K promulgated under the Securities
Exchange Act of 1934, as amended.
and containing more information about Mr. Kothandaraman is
attached as Exhibit 99.1 to this Current Report on Form 8-K. The
information in the press release shall not be deemed filed for
purposes of Section 18 of the Securities Exchange Act of 1934, as
amended (the Exchange Act) or otherwise subject to the
liabilities of that section, nor shall it be deemed incorporated
by reference in any filing under the Securities Act of 1933, as
amended, or the Exchange Act.
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Exhibit Number
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Description of Exhibits
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99.1
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Enphase Energy, Inc. press release dated April 12, 2017
announcing the appointment of Badrinarayanan Kothandaraman as the Companys Chief Operating Officer. |
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. ENPHASE ENERGY, INC. (NASDAQ:ENPH) Recent Trading Information
ENPHASE ENERGY, INC. (NASDAQ:ENPH) closed its last trading session 00.00 at 1.34 with 468,777 shares trading hands.
