Richard Mora
Enphase EnergyAbout Richard Mora
Richard Mora (60) is an independent director at Enphase Energy, serving since February 2014. He is a member of the Audit Committee and Compensation Committee and is designated by the Board as an “audit committee financial expert.” Mora previously served as CEO and COO of Landis+Gyr and holds a BA in economics from Stanford University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Landis+Gyr | Chief Executive Officer | Apr 2017 – Apr 2020 | Led energy management company operations |
| Landis+Gyr | Chief Operating Officer | Jan 2014 – Apr 2017 | Global operations leadership |
| Landis+Gyr Americas | President & CEO | Aug 2011 – Jan 2014 | Oversight of North & South America |
| Landis+Gyr North America | President & CEO | Aug 2008 – Aug 2011 | Regional leadership |
External Roles
| Entity | Role | Status |
|---|---|---|
| Public company boards | — | None |
Board Governance
- Independence: Board determined Mora is independent under Nasdaq and SEC rules .
- Committees: Audit Committee (member); Compensation Committee (member) .
- Committee chairs: Audit Committee Chair – Steven J. Gomo; Compensation Committee Chair – Thurman John Rodgers .
- Attendance and meetings: Board met 4 times in 2024; Audit met 5; Compensation met 4; each director attended at least 75% of applicable meetings in 2024 . All Board members attended the 2024 Annual Meeting .
- Lead Independent Director/Board Chair: Steven J. Gomo, independent Chair .
- Executive sessions: Non-employee directors meet in regularly scheduled executive sessions .
- Risk oversight: Audit oversees financial, cyber, ERM, and related-party reviews; Compensation evaluates compensation risk; Nominating oversees governance and sustainability .
Fixed Compensation
Policy highlights: Non-employee directors receive cash retainers and annual RSU grants with $250,000 target value (vest quarterly over 12 months). Additional $20,000 RSU for Lead Independent Director/Chair. Committee retainers: Audit Chair $25,000, Audit member $15,000; Compensation Chair $20,000, Compensation member $10,000; Nominating Chair $10,000, Nominating member $5,000; Board Chair/Lead Independent Director $20,000; Strategic Committee member $10,000 .
Richard Mora – Director Compensation (historical):
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Fees Earned or Paid in Cash ($) | 85,000 | 85,000 | 85,000 |
| Stock Awards ($) | 249,872 | 249,852 | 249,993 |
| Total ($) | 334,872 | 334,852 | 334,993 |
Outstanding director equity awards (as of Dec 31, 2024):
- Unvested RSUs: 1,083 units (no outstanding options) .
- Director RSU grant mechanics: Annual $250,000 target value RSUs, quarterly vesting over 12 months .
Performance Compensation
- Directors do not receive performance-based equity (no PSUs); director equity is time-based RSUs per the Non-Employee Director Compensation Policy .
Other Directorships & Interlocks
- Current public company boards: None .
- Compensation Committee interlocks: None; no reciprocal board/comp-committee interlocks with executive officers at other companies in the past year .
Expertise & Qualifications
- Audit committee financial expert designation (SEC definition) based on formal education and CEO/CFO-level financial oversight experience .
- Skills cited by Enphase: process and productivity improvements, risk management, team building, international operations .
Equity Ownership
| Metric | Dec 31, 2024 | Mar 20, 2025 |
|---|---|---|
| Direct shares held | — | 4,749 |
| RSUs vesting within 60 days | — | 542 |
| Total beneficial ownership (shares) | — | 5,291 |
| % of shares outstanding | — | <1% |
| Unvested RSUs (units) | 1,083 | — |
| Options (exercisable / unexercisable) | — / — | — |
Ownership alignment:
- Stock ownership guidelines: minimum 5x annual board retainer ($250,000 equivalent); as of Dec 31, 2024 each non-employee director had achieved required ownership level .
- Hedging/pledging: Company policy prohibits hedging/pledging; exceptions disclosed only for Rodgers (margin account) and Kothandaraman (credit line collateral). No exception disclosed for Mora, implying adherence to the prohibition .
Governance Assessment
- Committee roles and effectiveness: Mora serves on both Audit and Compensation Committees and is recognized as an audit committee financial expert, strengthening financial oversight and pay governance. Audit met five times and Compensation met four times in 2024, with regular executive sessions and independent consultant support (Compensia) for compensation design .
- Independence and attendance: Board affirmatively determined Mora is independent; directors met the 75%+ attendance threshold and all attended the 2024 Annual Meeting, supporting engagement and oversight continuity .
- Compensation alignment: Director pay structure leans heavily to equity via annual RSUs, with no performance awards, plus moderate cash retainers and committee fees; Mora’s annual totals are stable (~$335k) with policy-based vesting that aligns interests without encouraging short-term risk .
- Ownership alignment and risk controls: Mora’s beneficial ownership and compliance with director ownership guidelines, alongside anti-hedging/pledging rules (with no exceptions for Mora), support skin-in-the-game and risk mitigation .
- Conflicts and related-party exposure: No related-party transactions disclosed for Mora; transaction disclosure in 2025 proxy references Complete Solaria and Rodgers, not Mora. On appointment in 2014, the Company disclosed no related-person transactions involving Mora .
- Shareholder sentiment: Say-on-pay support was ~74.7% at the 2024 Annual Meeting, contextualizing Compensation Committee oversight; continued investor outreach is noted .
RED FLAGS: None identified for Mora in current disclosures (no pledging/hedging exceptions, no related-party transactions, independence affirmed). Monitoring items include overall Board attendance trends and continued verification of ownership guideline compliance in future proxies .