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Natera (NTRA) co-founder Jonathan Sheena sells 4,650 shares under 10b5-1 plans

Filing Impact
(High)
Filing Sentiment
(Negative)
Form Type
4

Rhea-AI Filing Summary

Natera, Inc. director and co-founder Jonathan Sheena reported open-market sales of a total of 4,650 shares of common stock. The filing shows 2,175 shares sold indirectly by Caraluna 1 and Caraluna 2 trusts, for which Sheena disclaims beneficial ownership, and 2,475 shares sold from direct holdings.

Reported sale prices ranged from about $199 to $210.345 per share, with several trades reported at weighted average prices. Following the direct sales, Sheena’s directly held stake reported in this filing is 255,452 shares of Natera common stock, indicating these transactions represent a small portion of his reported holdings.

Footnotes state that both the May 8 and May 13 transactions were executed under pre-arranged Rule 10b5-1 trading plans, suggesting the sales were scheduled in advance rather than timed discretionarily.

Positive

  • None.

Negative

  • None.
Insider Sheena Jonathan
Role null
Sold 4,650 shs ($959K)
Type Security Shares Price Value
Sale Common Stock 85 $199.5174 $17K
Sale Common Stock 345 $201.1139 $69K
Sale Common Stock 290 $202.5823 $59K
Sale Common Stock 30 $202.84 $6K
Sale Common Stock 96 $199.4346 $19K
Sale Common Stock 360 $201.1923 $72K
Sale Common Stock 285 $202.6829 $58K
Sale Common Stock 9 $203.295 $2K
Sale Common Stock 200 $205.43 $41K
Sale Common Stock 900 $207.2411 $187K
Sale Common Stock 700 $208.1286 $146K
Sale Common Stock 200 $209.5725 $42K
Sale Common Stock 1,150 $210.345 $242K
Holdings After Transaction: Common Stock — 20,197 shares (Indirect, By Caraluna 1 Trust); Common Stock — 255,452 shares (Direct, null)
Footnotes (1)
  1. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 12, 2025. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $205.00 to $205.86 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $206.52 to $207.51 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $207.55 to $208.50 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $209.2250 to $209.9200 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. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2024. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.00 to $199.8950 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. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.81 to $201.74 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $201.83 to $202.75 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $202.83 to $202.85 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.00 to $199.8950 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.81 to $201.75 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $201.9750 to $202.85 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.
Total shares sold 4,650 shares Net open-market sales across 13 transactions
Direct shares sold 2,475 shares Sales from direct holdings on May 8, 2026
Trust shares sold 2,175 shares Sales by Caraluna 1 and 2 trusts on May 13, 2026
Highest reported sale price $210.3450 per share Open-market sale of 1,150 shares on May 8, 2026
Lowest price range $199.00–$199.8950 Weighted average price range in certain May 13, 2026 trades
Direct holdings after sale 255,452 shares Direct Natera common stock reported following May 8, 2026 trades
Rule 10b5-1 trading plan financial
"The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 12, 2025."
A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.
weighted average price financial
"The reported price in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
open-market sale financial
"transaction_action: "open-market sale""
An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.
disclaims beneficial ownership financial
"The Reporting Person disclaims beneficial ownership over such securities."
indirect ownership financial
"direct_or_indirect: "I", nature_of_ownership: "By Caraluna 1 Trust""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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 TEXAS 78753
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Natera, Inc. [ NTRA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)XOther (specify below)
CO-FOUNDER
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(A) or (D)Price
Common Stock05/08/2026S200(1)D$205.43(2)255,452D
Common Stock05/08/2026S900(1)D$207.2411(3)254,552D
Common Stock05/08/2026S700(1)D$208.1286(4)253,852D
Common Stock05/08/2026S200(1)D$209.5725(5)253,652D
Common Stock05/08/2026S1,150(1)D$210.345252,502D
Common Stock05/13/2026S85(6)D$199.5174(7)20,197IBy Caraluna 1 Trust(8)
Common Stock05/13/2026S345(6)D$201.1139(9)19,852IBy Caraluna 1 Trust(8)
Common Stock05/13/2026S290(6)D$202.5823(10)19,562IBy Caraluna 1 Trust(8)
Common Stock05/13/2026S30(6)D$202.84(11)19,532IBy Caraluna 1 Trust(8)
Common Stock05/13/2026S96(6)D$199.4346(12)20,186IBy Caraluna 2 Trust(8)
Common Stock05/13/2026S360(6)D$201.1923(13)19,826IBy Caraluna 2 Trust(8)
Common Stock05/13/2026S285(6)D$202.6829(14)19,541IBy Caraluna 2 Trust(8)
Common Stock05/13/2026S9(6)D$203.29519,532IBy Caraluna 2 Trust(8)
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount 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 12, 2025.
2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $205.00 to $205.86 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 $206.52 to $207.51 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 $207.55 to $208.50 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 $209.2250 to $209.9200 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 sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2024.
7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.00 to $199.8950 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. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities.
9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.81 to $201.74 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 $201.83 to $202.75 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.
11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $202.83 to $202.85 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.
12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.00 to $199.8950 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 $200.81 to $201.75 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.
14. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $201.9750 to $202.85 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.
/s/ Tami Chen, Attorney-in-Fact05/15/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did Natera (NTRA) director Jonathan Sheena report in this Form 4?

Jonathan Sheena reported selling a total of 4,650 Natera common shares in open-market transactions. The sales were split between indirect holdings through trusts and his direct holdings, and were executed at prices around $199–$210.345 per share.

How many Natera (NTRA) shares did Jonathan Sheena sell directly versus through trusts?

The filing shows 2,475 shares sold from Sheena’s direct holdings and 2,175 shares sold by Caraluna 1 and Caraluna 2 trusts. Footnotes explain those trust shares are held for beneficiaries and that Sheena disclaims beneficial ownership of those securities.

At what prices were the Natera (NTRA) insider sales executed?

Reported transaction prices range from about $199.00 to $210.3450 per share. Several entries use a weighted average price, with footnotes noting underlying trades occurred within specific intraday price ranges around those reported averages.

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

Yes. Footnotes state the share sales on May 8 and May 13 were effected under Rule 10b5-1 trading plans adopted on June 7, 2024 and December 12, 2025, indicating the trading schedule was pre-arranged rather than decided at the last moment.

How many Natera (NTRA) shares does Jonathan Sheena hold after these transactions?

After the reported sales from his direct account, Sheena holds 255,452 shares of Natera common stock directly. The filing also shows additional shares held by Caraluna 1 and Caraluna 2 trusts, which are for trust beneficiaries and disclaimed as beneficially owned.

What is the overall scale of the Natera (NTRA) insider sales in this Form 4?

Across 13 open-market transactions, a combined 4,650 shares of Natera common stock were sold. This includes multiple small trades on May 8 and May 13, executed at various prices in the high $190s to low $210s per share range.