Natera (NTRA) chair Rabinowitz exercises options and sells 200,000 shares

Rhea-AI Filing Summary

Natera, Inc. executive chairman Matthew Rabinowitz exercised stock options to acquire 200,000 shares of common stock at an exercise price of $9.59 per share, then sold 200,000 shares in multiple open-market transactions. The sales were executed at weighted average prices generally between about $186 and $198 per share.

According to the filing, all sales were made under a pre-arranged Rule 10b5-1 trading plan adopted on December 11, 2025. After these transactions, Rabinowitz directly holds 2,310,772 shares of Natera common stock, with an additional 5,000 shares held indirectly by his spouse.

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^*

Rabinowitz Matthew

(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
X	Officer (give title below)		Other (specify below)
	EXECUTIVE CHAIRMAN

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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	03/12/2026		M		75,000	A	$9.59	2,385,772	D
Common Stock	03/12/2026		S		8,091(1)	D	$186.7494(2)	2,377,681	D
Common Stock	03/12/2026		S		5,809(1)	D	$187.5193(3)	2,371,872	D
Common Stock	03/12/2026		S		6,451(1)	D	$188.5152(4)	2,365,421	D
Common Stock	03/12/2026		S		2,886(1)	D	$189.642(5)	2,362,535	D
Common Stock	03/12/2026		S		22,063(1)	D	$190.5326(6)	2,340,472	D
Common Stock	03/12/2026		S		9,896(1)	D	$191.5516(7)	2,330,576	D
Common Stock	03/12/2026		S		8,579(1)	D	$192.7914(8)	2,321,997	D
Common Stock	03/12/2026		S		7,043(1)	D	$193.5807(9)	2,314,954	D
Common Stock	03/12/2026		S		4,082(1)	D	$194.5659(10)	2,310,872	D
Common Stock	03/12/2026		S		100(1)	D	$195.32	2,310,772	D
Common Stock	03/13/2026		M		75,000	A	$9.59	2,385,772	D
Common Stock	03/13/2026		S		17,037(1)	D	$187.6288(11)	2,368,735	D
Common Stock	03/13/2026		S		21,476(1)	D	$188.5449(12)	2,347,259	D
Common Stock	03/13/2026		S		21,504(1)	D	$189.4999(13)	2,325,755	D
Common Stock	03/13/2026		S		13,883(1)	D	$190.4636(14)	2,311,872	D
Common Stock	03/13/2026		S		1,100(1)	D	$191.2227(15)	2,310,772	D
Common Stock	03/16/2026		M		50,000	A	$9.59	2,360,772	D
Common Stock	03/16/2026		S		100(1)	D	$190.0708(16)	2,360,672	D
Common Stock	03/16/2026		S		300(1)	D	$190.6769(17)	2,360,372	D
Common Stock	03/16/2026		S		900(1)	D	$192.4278(18)	2,359,472	D
Common Stock	03/16/2026		S		2,300(1)	D	$194.1707(19)	2,357,172	D
Common Stock	03/16/2026		S		4,875(1)	D	$195.4248(20)	2,352,297	D
Common Stock	03/16/2026		S		24,814(1)	D	$196.2316(21)	2,327,483	D
Common Stock	03/16/2026		S		16,457(1)	D	$197.2177(22)	2,311,026	D
Common Stock	03/16/2026		S		254(1)	D	$198.0204(23)	2,310,772	D
Common Stock								5,000	I	By spouse

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
Stock Option (right to buy)	$9.59	03/12/2026		M			75,000	(24)	04/07/2026	Common Stock	75,000	$0	225,000	D
Stock Option (right to buy)	$9.59	03/13/2026		M			75,000	(24)	04/07/2026	Common Stock	75,000	$0	150,000	D
Stock Option (right to buy)	$9.59	03/16/2026		M			50,000	(24)	04/07/2026	Common Stock	50,000	$0	100,000	D

Explanation of Responses:

1. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 11, 2025.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $186.09 to $187.08 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.

3. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.09 to $188.08 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.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.10 to $189.09 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 $189.10 to $190.09 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.10 to $191.04 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.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.10 to $192.05 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.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.10 to $193.09 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.

9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.10 to $194.09 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.

10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.10 to $195.03 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.

11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.07 to $188.06 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.

12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.07 to $189.06 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.

13. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.07 to $190.06 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.

14. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.07 to $190.94 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.

15. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.08 to $191.37 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.

16. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.61 to $190.12 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.

17. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.6650 to $190.7800 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.

18. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.40 to $192.45 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.

19. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.63 to $194.47 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.

20. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.76 to $195.75 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.

21. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $195.7600 to $196.7550 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.

22. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.76 to $197.68 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.

23. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $197.98 to $198.17 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.

24. The option shares are fully exercisable.

	/s/ Tami Chen, Attorney-in-Fact	03/16/2026
	** 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) report for Matthew Rabinowitz?

Natera reported that executive chairman Matthew Rabinowitz exercised options for 200,000 shares at $9.59 per share and sold 200,000 shares of common stock in multiple open-market transactions at weighted average prices between roughly $186 and $198 per share.

How many Natera (NTRA) shares does Matthew Rabinowitz hold after these trades?

After the reported transactions, Matthew Rabinowitz directly holds 2,310,772 shares of Natera common stock. The filing also shows an additional 5,000 shares held indirectly by his spouse, reflecting both his direct and related indirect ownership positions as of the latest transaction date.

Were Matthew Rabinowitz’s Natera (NTRA) share sales under a Rule 10b5-1 plan?

Yes. The filing states the share sales were executed under a Rule 10b5-1 trading plan adopted by Matthew Rabinowitz on December 11, 2025. Such plans pre-schedule trades, indicating the timing of these sales was set in advance rather than decided opportunistically.

What prices did Matthew Rabinowitz receive for his Natera (NTRA) share sales?

The filing reports weighted average sale prices, with transactions occurring in ranges such as $186.09–$187.08, up to $197.98–$198.17 per share. Exact prices vary by trade, and the holder offers full breakdowns upon written request, as noted in multiple footnotes.

What was the exercise price of the Natera (NTRA) options Rabinowitz exercised?

Rabinowitz exercised stock options covering 200,000 shares of Natera common stock at an exercise price of $9.59 per share. The filing notes these option shares were fully exercisable, and the exercises converted derivative holdings into common stock before the related open-market sales.

Does the Natera (NTRA) Form 4 show remaining option holdings for Rabinowitz?

The Form 4 data show option exercises for 200,000 shares at $9.59 with those option shares described as fully exercisable. The derivative position summary in this filing is empty, indicating no additional derivative transactions are reported here beyond those exercised options.