several of our core businesses and architectures. We continue to work with various third- party cybersecurity experts and certi昀椀cation bodies to demonstrate our commitment to cybersecurity. We also signi昀椀cantly matured our cybersecurity operations, including improvements in Board level oversight, risk identi昀椀cation and management, coordinated vulnerability reporting, Security Incident Response Team policy and procedures, and management and evaluation of escalated incidents and outward reporting obligations. Our cybersecurity program continues to mature through improved documentation, tools and resources, tabletop exercises, cross-functional involvement, and other improvements. Intellectual property We are strongly committed to advancing the state of the art, including developing and protecting our technologies through various forms of intellectual property. Patents and trade secrets are among our most valuable assets as they protect our investment in R&D. We place particular emphasis on protecting our digital innovation, including software, through a speci昀椀cally focused High-Value Trade Secret program. Our ASIC designs are similarly protected through customized High-Value Trade Secret Protection Plans. Our patent portfolio continues to be a best-in-class representation of our dedication to innovation. At the end of 2023, we had more than 400 issued patents and more than 250 pending applications, covering microinverters, batteries, EV supply equipment, grid and microgrid interaction, our supporting hardware and software suite, and various components and technologies within these major categories. We expect this protection to continue to grow in the years ahead, owing both to our increased innovation and our focus on enhancing our intellectual property position. Chart 4: Patents and pending applications 700 600 264 500 186 400 127 86 401 300 333 368 317 200 100 0 Q4 20 Q4 21 Q4 22 Q4 23 Patents Pending applications ENVIRONMENTAL, SOCIAL, AND GOVERNANCE REPORT 2023 81