[Form 4] Natera, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Matthew Rabinowitz, Executive Chairman and Director of Natera, Inc. (NTRA), reported sales of common stock under a pre-established trading plan. On 09/12/2025 the filing shows a total of 5,000 shares sold (4,500 and 500 shares) at prices reported as a weighted average of $170.3083 for one block and $172.64 for the other, with the larger block sold at prices ranging from $170.00 to $170.93. The Form states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 13, 2025.

The filing lists 2,360,852 shares beneficially owned directly following the reported transactions. It also records indirect holdings attributed to a spouse of 25,500 and 25,000 shares on separate lines. The Form 4 was signed by an attorney-in-fact on 09/16/2025.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating pre-arranged trades rather than opportunistic insider timing
• Timely disclosure of transactions and remaining direct ownership (2,360,852 shares) in a filed Form 4

Negative

• None.

Insights

Corporate Governance Expert

TL;DR: Routine insider sales under a 10b5-1 plan; disclosure aligns with standard governance practice.

The transactions disclosed are sales executed under a Rule 10b5-1 plan adopted on June 13, 2025, which indicates pre-arranged, time-based dispositions rather than opportunistic trading tied to contemporaneous material nonpublic information. The filing provides the number of shares sold (4,500 and 500), weighted average prices for the larger block and the explicit price for the smaller block, and the direct beneficial ownership remaining at 2,360,852 shares. From a governance perspective, use of a 10b5-1 plan and timely Form 4 reporting are consistent with compliance and insider trading controls.

Securities Analyst

TL;DR: Insiders sold 5,000 shares total; transaction size is small relative to reported direct holdings.

The combined sale of 5,000 shares on 09/12/2025 at average prices around $170–$173 represents a minor liquidity event compared with the reported direct beneficial ownership of 2,360,852 shares. The disclosure of the price range and weighted average adds transparency about execution. No derivative transactions or other compensatory equity events are reported on this Form 4. This is a routine disclosure with limited market impact based on the amounts shown.

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).

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)
09/12/2025

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								2,360,852	D
Common Stock	09/12/2025		S		4,500(1)	D	$170.3083(2)	25,500	I	By spouse
Common Stock	09/12/2025		S		500(1)	D	$172.64	25,000	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

Explanation of Responses:

1. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 13, 2025.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $170.00 to $170.93 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.

	/s/ Vincent Fontanilla, Attorney-in-Fact	09/16/2025
	** 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 insider transactions did NTRA Executive Chairman Matthew Rabinowitz report?

He reported sales totaling 5,000 shares on 09/12/2025 (4,500 and 500 shares) as shown on the Form 4.

Were the NTRA sales part of a 10b5-1 trading plan?

Yes. The Form states the sales were effected pursuant to a Rule 10b5-1 trading plan adopted on June 13, 2025.

What prices were reported for the NTRA insider sales?

The larger block was sold at a weighted average price of $170.3083 (individual trades ranged $170.00–$170.93); the smaller block was at $172.64.

How many NTRA shares does the reporting person still beneficially own?

The Form reports 2,360,852 shares beneficially owned directly following the reported transactions.

When was the Form 4 for these NTRA transactions signed?

The signature by attorney-in-fact on the Form 4 is dated 09/16/2025.