[Form 4] Natera, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Natera, Inc. (NTRA) director and CEO Steven Leonard Chapman reported sales of 5,079 shares of Natera common stock on 09/02/2025 executed under a Rule 10b5-1 trading plan. The sales are reported on three lines with weighted-average prices disclosed in ranges: $164.93–$165.7750, $165.97–$166.90, and $167.41–$168.28. After these transactions Mr. Chapman beneficially owned 158,514 shares. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person and discloses that the trades were made pursuant to a plan adopted December 11, 2023 and amended December 2, 2024.

Positive

• Sales executed under a Rule 10b5-1 plan, which supports compliance and reduces timing concerns
• Detailed price ranges provided via weighted-average disclosures for transparency
• Reporting person retains substantial ownership with 158,514 shares remaining beneficially owned

Negative

• None.

Insights

Financial Analyst

TL;DR: Insider sold 5,079 shares under a pre-established 10b5-1 plan; holdings remain substantial at 158,514 shares.

The reported transactions are routine insider sales executed pursuant to an established Rule 10b5-1 plan, reducing concerns about opportunistic timing. The filing provides weighted-average price ranges for the multiple executions but does not list total proceeds. The remaining beneficial ownership of 158,514 shares indicates continued significant alignment with shareholder outcomes, while the sale size relative to total holdings appears modest based on the data provided.

Corporate Governance Expert

TL;DR: Transactions followed a documented trading plan, which supports compliance and reduces governance red flags.

The Form 4 clearly indicates the trades were made under a 10b5-1 plan adopted December 11, 2023 and amended December 2, 2024, which is best practice for avoiding claims of insider-timing. The report is signed by an attorney-in-fact and includes explanatory footnotes on weighted-average price ranges. No indication of unusual or suspicious activity is present in the filing itself.

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^*

Chapman Steven Leonard

(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)
	CEO AND PRESIDENT

3. Date of Earliest Transaction (Month/Day/Year)
09/02/2025

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	09/02/2025		S		1,700(1)	D	$165.4368(2)	161,893	D
Common Stock	09/02/2025		S		1,472(1)	D	$166.286(3)	160,421	D
Common Stock	09/02/2025		S		1,907(1)	D	$167.6872(4)	158,514	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

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, 2023, as amended on December 2, 2024.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.93 to $165.7750 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 $165.97 to $166.90 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 $167.41 to $168.28 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	09/05/2025
	** 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 NTRA insider Steven Chapman sell on 09/02/2025?

He sold 5,079 shares of Natera common stock in three transactions reported on the Form 4.

Were the sales by the NTRA reporting person part of a trading plan?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted December 11, 2023 and amended December 2, 2024.

How many Natera shares does Steven Chapman own after these sales?

158,514 shares are reported as beneficially owned following the transactions.

What prices were the NTRA shares sold at?

Weighted-average price ranges are disclosed: $164.93–$165.7750, $165.97–$166.90, and $167.41–$168.28 per share.

Who signed the Form 4 for the reporting person?

The filing was signed by Vincent Fontanilla, Attorney-in-Fact, on 09/05/2025.