[Form 4] Natera, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Natera (NTRA) reported insider activity by its Chief Financial Officer. On 10/22/2025, the CFO sold 920 shares at $186.68 and converted 1,250 Restricted Stock Units (RSUs) into common stock. Additional sales included 495 shares at $187.16 on 10/23/2025 (to satisfy tax withholding on RSU vesting) and 755 shares at $196.77 on 10/24/2025. Following these transactions, the officer directly owned 69,189 shares. The sales on 10/22 and 10/24 were made under a Rule 10b5-1 plan adopted on June 14, 2024.

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

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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^*

Brophy Michael Burkes

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CHIEF FINANCIAL OFFICER

3. Date of Earliest Transaction (Month/Day/Year)
10/22/2025

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	10/22/2025		S		920(1)	D	$186.68	69,189	D
Common Stock	10/22/2025		M		1,250	A	(2)	70,439	D
Common Stock	10/23/2025		S		495(3)	D	$187.16	69,944	D
Common Stock	10/24/2025		S		755(1)	D	$196.77	69,189	D

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
Restricted Stock Unit	(2)	10/22/2025		M			1,250	(4)	(4)	Common Stock	1,250	$0	0	D

Explanation of Responses:

1. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 14, 2024.

2. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of the Issuer's Common Stock.

3. The sale of shares was effected in order to satisfy tax withholding and remittance obligations in connection with the vesting of RSUs and made pursuant to a written instruction that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act contained in the Reporting Person's Stock Unit Agreement granted on October 22, 2021.

4. The RSUs vest over four years. 25% of the RSUs vested on October 22, 2022 and the remaining shares vest in 12 equal quarterly installments thereafter.

	/s/ Vincent Fontanilla, Attorney-in-Fact	10/24/2025
	** 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 did Natera (NTRA)'s CFO report on Form 4?

The CFO reported RSU vesting of 1,250 shares on 10/22/2025 and open-market sales totaling 2,170 shares across 10/22–10/24/2025.

How many Natera (NTRA) shares did the CFO sell and at what prices?

Sales were 920 shares at $186.68 (10/22/2025), 495 at $187.16 (10/23/2025), and 755 at $196.77 (10/24/2025).

What is the CFO’s remaining Natera (NTRA) share ownership?

After the reported transactions, the CFO directly owned 69,189 shares.

Were the Natera (NTRA) sales made under a 10b5-1 plan?

Yes. The sales on 10/22/2025 and 10/24/2025 were under a Rule 10b5-1 plan adopted on June 14, 2024.

Why was one of the Natera (NTRA) sales executed?

The 495-share sale on 10/23/2025 was executed to satisfy tax withholding obligations related to RSU vesting.

What do Natera (NTRA) RSUs represent for the CFO?

Each RSU represents a contingent right to receive one share of common stock, with vesting over four years as disclosed.