[144] Natera, Inc. SEC Filing

Rhea-AI Filing Summary

Natera, Inc. (NTRA) Form 144 notice reports a proposed sale of 25,527 common shares valued at $4,591,286.22 to be sold on 09/19/2025 on NASDAQ through Morgan Stanley Smith Barney LLC. The shares were acquired on 08/08/2024 through previously exercised stock options and paid in cash. The filer discloses multiple recent sales over the past three months, including 10b5-1 program sales: 14,473 shares by Matthew Rabinowitz on 09/18/2025 (gross proceeds $2,607,069.25) and several sales by related trust entities totaling 31,718 shares with combined proceeds reported. The filer certifies no undisclosed material adverse information and notes reliance on Rule 10b5-1 sales where indicated.

Positive

• Use of 10b5-1 trading plans is disclosed for some sales, indicating pre-arranged, rule-compliant dispositions
• Full acquisition details are provided (date and nature: previously exercised stock options on 08/08/2024), improving transparency

Negative

• Insider proposes to sell 25,527 shares valued at $4,591,286.22, representing notable insider liquidity
• Multiple recent sales in the past three months totaling over 31,000 shares by the insider and related trusts, indicating concentrated selling activity

Insights

Securities Analyst

TL;DR: Insider proposes to sell ~25.5k shares (~$4.6M) acquired by option exercise; recent 10b5-1 and ad-hoc sales occurred in the prior three months.

The filing documents a sizeable single proposed sale relative to an individual insider, funded by exercised options on 08/08/2024. Use of Morgan Stanley as broker and explicit 10b5-1 program sales reported for 09/18/2025 indicate planned, pre-arranged dispositions for at least part of the activity. The presence of multiple sellers and trust entities in recent transactions suggests coordinated liquidity events by the insider and related parties rather than a single isolated sale. For investors, these are disclosures of insider liquidity but do not on their own indicate company operational changes.

Corporate Governance Specialist

TL;DR: Filing shows routine insider disposition activity, including 10b5-1 compliance, but the amount is material for an individual holder.

The notice meets regulatory requirements by identifying acquisition date (08/08/2024) and nature (previously exercised stock options) and by affirming absence of undisclosed material information. Reporting of 10b5-1 sales enhances governance transparency, as these plans provide pre-established timing that can mitigate concerns about opportunistic insider sales. Nonetheless, aggregated recent sales of >30k shares across parties deserve attention from governance stakeholders because they represent concentrated insider liquidity over a short period.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Morgan Stanley Smith Barney LLC Executive Financial Services 1 New York Plaza 8th Floor New York NY 10004	25527	4591286.22	137248106	09/19/2025	NASDAQ

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/08/2024	Previously Exercised Stock Options	Issuer			25527	08/08/2024	Cash

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
10b5-1 Sales for MATTHEW RABINOWITZ 13011 McCallen Pass Building A Suite 100 Austin TX 78753	Common	09/18/2025	14473	2607069.25
TINKERBELLE II TR U/A DTD 10/22/2021 13011 McCallen Pass Building A Suite 100 Austin TX 78753	Common	09/18/2025	10000	1800000.00
TINKERBELLE II TR U/A DTD 10/22/2021 13011 McCallen Pass Building A Suite 100 Austin TX 78753	Common	09/12/2025	5000	852707.35
MATTHEW RABINOWITZ 13011 McCallen Pass Building A Suite 100 Austin TX 78753	Common	07/28/2025	1718	240190.66

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What shares does the NTRA Form 144 propose to sell?

The notice proposes sale of 25,527 common shares of Natera (NTRA) on 09/19/2025 on NASDAQ.

What is the reported value of the proposed NTRA sale?

The aggregate market value is reported as $4,591,286.22.

How were the shares being sold acquired?

The shares were acquired on 08/08/2024 through previously exercised stock options and paid in cash.

Were there other recent sales disclosed for NTRA insiders?

Yes. The filing lists several sales in the past three months, including 14,473 shares by Matthew Rabinowitz on 09/18/2025 (gross proceeds $2,607,069.25) and trust sales totaling over 31,000 shares.

Which broker is handling the proposed sale?

The broker is Morgan Stanley Smith Barney LLC (Executive Financial Services, 1 New York Plaza, New York, NY).