Jonathan Sheena of Natera (NTRA) logs stock sales and new 2,103 RSU grant

Rhea-AI Filing Summary

Natera, Inc. director and co-founder Jonathan Sheena reported mixed equity activity in Natera stock. On March 2, 2026, he completed open-market sales totaling 3,070 shares of Common Stock at weighted average prices ranging from $198.24 to $202.85 per share under a pre-arranged Rule 10b5-1 trading plan adopted on June 7, 2024. Following these sales, his directly held stake reported in this filing was 262,194 shares.

On February 27, 2026, Sheena also received a grant of 2,103 Restricted Stock Units (RSUs), each representing a contingent right to one share of Common Stock. The RSUs vest over four years, with 25% vesting on March 1, 2027 and the rest in 12 equal quarterly installments. The filing also notes indirect holdings in trusts for beneficiaries, for which he disclaims beneficial ownership.

Insights

Equity compensation and insider trading analyst

Small pre-planned sales offset by new RSU grant; overall impact looks routine.

The transactions show Jonathan Sheena executing pre-planned open-market sales of 3,070 Natera shares while also receiving 2,103 RSUs. The Rule 10b5-1 plan adopted on June 7, 2024 indicates the sales were scheduled in advance rather than opportunistic.

The RSUs vest over four years, with 25% on March 1, 2027 and the balance in 12 quarterly installments, providing longer-term alignment with company performance. Reported direct ownership after these trades remains above 262,000 shares, suggesting the sales are modest relative to the overall position.

The filing also lists shares held by trusts for beneficiaries, over which Sheena disclaims beneficial ownership. Subsequent filings may provide additional context on any future awards or trading under the existing 10b5-1 plan.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sheena Jonathan

(Last) (First) (Middle)

C/O NATERA, INC.

13011 MCCALLEN PASS BUILDING A SUITE 100

(Street)

AUSTIN TX 78753

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Natera, Inc. [ NTRA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			CO-FOUNDER

3. Date of Earliest Transaction (Month/Day/Year)
02/27/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/27/2026		A		2,103(1)	A	(2)	265,264	D
Common Stock	03/02/2026		S		470(3)	D	$198.4956(4)	264,794	D
Common Stock	03/02/2026		S		2,400(3)	D	$200.4217(5)	262,394	D
Common Stock	03/02/2026		S		100(3)	D	$201.2	262,294	D
Common Stock	03/02/2026		S		100(3)	D	$202.85	262,194	D
Common Stock								21,782	I	By Caraluna 1 Trust(6)
Common Stock								21,782	I	By Caraluna 2 Trust(6)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents the issuance of Restricted Stock Units ("RSUs") to the Reporting Person. The RSUs vest over four years. 25% of the RSUs vest on March 1, 2027 and the remaining RSUs vest in 12 equal quarterly installments thereafter.

2. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.

3. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2024.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.24 to $198.85 per share, inclusive. The holder undertakes to provide, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.00 to $200.7950 per share, inclusive. The holder undertakes to provide, upon written request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities.

	/s/ Tami Chen, Attorney-in-Fact	03/03/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transactions did Natera (NTRA) director Jonathan Sheena report?

Jonathan Sheena reported open-market sales of 3,070 shares of Natera common stock and a grant of 2,103 restricted stock units. The sales were executed under a pre-arranged Rule 10b5-1 trading plan, while the RSU grant provides additional equity compensation that vests over four years.

How many Natera (NTRA) shares did Jonathan Sheena sell and at what prices?

Sheena sold a total of 3,070 Natera common shares in several trades at weighted average prices between $198.24 and $202.85 per share. These sales occurred on March 2, 2026, as part of an open-market program under his existing Rule 10b5-1 trading plan.

What restricted stock unit (RSU) award did Jonathan Sheena receive from Natera (NTRA)?

He received 2,103 restricted stock units, each representing a right to one Natera common share. The RSUs vest over four years: 25% on March 1, 2027, with the remaining units vesting in 12 equal quarterly installments, encouraging longer-term retention and alignment.

What is Jonathan Sheena’s direct Natera (NTRA) shareholding after these Form 4 transactions?

After the reported transactions, Sheena’s directly held Natera common stock position reported in the filing is 262,194 shares. This figure reflects the net effect of the 3,070-share open-market sales and the 2,103-share RSU grant recorded in the Form 4.

Were Jonathan Sheena’s Natera (NTRA) stock sales part of a Rule 10b5-1 plan?

Yes. The filing states that the stock sales were executed pursuant to a Rule 10b5-1 trading plan adopted on June 7, 2024. Such plans allow insiders to schedule trades in advance, providing a structured framework that separates trading decisions from day-to-day information.

How are the Natera (NTRA) trust-held shares related to Jonathan Sheena treated in the filing?

The filing lists indirect holdings by Caraluna 1 Trust and Caraluna 2 Trust for the benefit of beneficiaries. It specifies that Sheena disclaims beneficial ownership of these securities, meaning they are reported as indirect interests rather than part of his direct economic stake.