Steven J. Gomo
Enphase EnergyAbout Steven J. Gomo
Independent Chair of the Board and Audit Committee Chair at Enphase Energy (ENPH). Age 73; director since March 2011. Former CFO at NetApp, Gemplus, and Silicon Graphics; earlier finance and operations roles at Hewlett‑Packard. Education: BS in Business Administration (Oregon State University) and MBA (Santa Clara University). Current public company directorships: Nutanix, Inc. (since June 2015) and Micron Technology, Inc. (since October 2018). Designated as independent under Nasdaq standards and serves as Lead Independent Director.
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| NetApp, Inc. | EVP Finance & CFO; SVP Finance & CFO | Aug 2002–Dec 2011 | Led financial strategy and reporting for a public storage company |
| Gemplus International S.A. | CFO | Nov 2000–Apr 2002 | CFO of smart card provider |
| Silicon Graphics, Inc. | CFO | Feb 1998–Aug 2000 | CFO of high‑performance computing firm |
| Hewlett‑Packard Company | Various finance, manufacturing, general management | Pre‑Feb 1998 | Broad finance/operations background |
| Rodgers Silicon Valley Acquisition Corp (SPAC) | Director | Dec 2020–Jul 2021 | SPAC board member; business combination with Enovix |
External Roles
| Company | Role | Tenure | Notes |
|---|---|---|---|
| Nutanix, Inc. | Director | Since Jun 2015 | Current public company board seat |
| Micron Technology, Inc. | Director | Since Oct 2018 | Current public company board seat |
Board Governance
- Roles: Independent Chair of the Board; Lead Independent Director; Audit Committee Chair.
- Independence: Board determined Mr. Gomo is independent under SEC/Nasdaq standards.
- Financial expertise: Board determined Mr. Gomo qualifies as an “audit committee financial expert.”
- Committees: Audit Committee (Chair); all directors also serve on a Strategic Committee established by the Board.
- Attendance: Board met 4 times in 2024; each director attended ≥75% of Board and committee meetings; Audit Committee met 5 times in 2024.
- Board leadership structure: Independent Chair separate from CEO to reinforce independent oversight.
- Risk oversight: Audit Committee oversees financial reporting, internal controls, cybersecurity, and enterprise risk; reviews related‑party transactions.
Fixed Compensation (Director)
| Component | Amount/Structure | 2024 Actual (Gomo) |
|---|---|---|
| Annual Board retainer (cash) | $50,000 | Included in fees earned |
| Audit Committee Chair retainer (cash) | $25,000 | Included in fees earned |
| Chair of the Board retainer (cash) | $20,000 | Included in fees earned |
| Strategic Committee member retainer (cash) | $10,000 | Included in fees earned |
| Total cash fees | Accrue/pay quarterly | $105,000 |
| Annual RSU grant (non‑employee director) | $250,000, vests quarterly over 12 months | Included in stock awards |
| Additional RSU for Lead Independent Director/Chair | $20,000, vests quarterly over 12 months | Included in stock awards |
| Total stock awards (grant‑date fair value) | ASC 718 basis | $269,969 |
Performance Compensation (Director)
| Element | Performance Metrics | Vesting/Payout |
|---|---|---|
| Annual Director RSUs | None disclosed; time‑based only | Quarterly vesting over 12 months |
No performance‑based equity or cash components are disclosed for non‑employee directors; RSU grants are time‑based.
Other Directorships & Interlocks
| Entity | Relationship | Interlock/Exposure |
|---|---|---|
| Nutanix, Inc.; Micron Technology, Inc. | Current public company boards | External governance influence; no ENPH transactional ties disclosed |
| Rodgers Silicon Valley Acquisition Corp | Former director (Dec 2020–Jul 2021) | Historical interlock with fellow ENPH director T.J. Rodgers (SPAC sponsor); no ENPH related‑party transactions tied to Gomo disclosed |
Expertise & Qualifications
- Deep CFO experience at multiple public companies; financial and business expertise explicitly cited by ENPH.
- Audit leadership: Audit Committee Chair and Board‑designated financial expert.
- Governance leadership: Independent Chair/Lead Independent Director, shaping agendas and executive sessions.
Equity Ownership
| Measure | Amount | Notes |
|---|---|---|
| Total beneficial ownership (shares) | 96,111 | Includes 585 RSUs vesting within 60 days and 95,526 direct shares; <1% of outstanding shares |
| RSUs vesting within 60 days (included above) | 585 | Counted in beneficial ownership per SEC rules |
| Unvested RSUs outstanding (12/31/2024) | 1,169 | Director outstanding equity awards table |
| Ownership guidelines (Directors) | 5x annual retainer; compliance achieved | As of 12/31/2024, all non‑employee directors met guidelines |
| Hedging/Pledging | Prohibited; exceptions require approvals | No pledging exception disclosed for Gomo |
Risk Indicators & Related-Party Exposure
- Related‑party transactions: None disclosed involving Gomo; Audit Committee reviews/approves related‑party transactions.
- Section 16 reporting: One late Form 4 by Gomo due to administrative error (transfer to a family trust).
- Hedging/pledging: Company policy prohibits; no disclosed exception for Gomo.
- Independence: Affirmatively determined independent; strengthens oversight posture.
Governance Assessment
- Board effectiveness: Gomo’s dual role as Independent Chair and Audit Committee Chair, combined with “financial expert” designation, enhances oversight of financial reporting, risk, and auditor engagement—supportive for investor confidence.
- Alignment: Director pay structure mixes modest cash retainers with time‑based RSUs and ownership guidelines; his beneficial ownership and guideline compliance support skin‑in‑the‑game without performance gaming.
- Conflicts: No related‑party transactions disclosed for Gomo; historical SPAC interlock is noted but no ENPH transactional ties; low conflict risk.
- Attendance/engagement: Board met 4 times; Audit met 5 times; all directors ≥75% attendance, indicating engagement; as Chair, he presides over meetings and agendas.
- Red flags: Minor—single late Form 4 filing attributed to administrative error; no pledging/hedging exceptions and no related‑party exposure flagged.