[Form 4] Natera, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Natera, Inc. (NTRA) director Roy D. Baynes disclosed a routine equity compensation transaction on Form 4. On 07/25/2025 he received 108 fully-vested restricted stock units (RSUs) issued in lieu of his $16,875 quarterly board retainer. Each RSU converts one-for-one into common stock, so no exercise price applies and no derivative position was created.

The grant lifts Baynes’ direct beneficial ownership to 18,266 common shares. No shares were sold, and the filing contains no operational or financial updates. The event simply records standard director compensation and is unlikely to influence the company’s valuation or trading dynamics on its own.

Insights

Securities Analyst

TL;DR: Routine RSU grant for director; negligible market impact.

The filing documents a modest in-kind payment of board fees—108 RSUs worth $16,875—raising the director’s stake to 18,266 shares. Because the shares were granted rather than bought on the open market, the disclosure offers little insight into insider sentiment or near-term fundamentals. With no sales, options, or additional derivatives reported, dilution is immaterial and the transaction should be viewed as standard governance practice. Overall impact on NTRA’s investment thesis is neutral.

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
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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^*

Marcus Gail Boxer

(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
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/25/2025

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	07/25/2025		A		141(1)	A	(2)	8,259	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. Represents the issuance of Restricted Stock Units ("RSUs") to the Reporting Person in lieu of quarterly retainer fees of $21,875 for service on the Issuer's Board of Directors. The RSUs were fully vested at the time of issuance.

2. Each RSU represents a contingent right to receive one share of the Issuer's Common Stock.

	/s/ Vincent Fontanilla, Attorney-in-Fact	07/29/2025
	** 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) disclose in the latest Form 4?

Director Roy D. Baynes received 108 fully-vested RSUs on 07/25/2025 as payment of his quarterly board retainer.

How many NTRA shares does Roy D. Baynes now own?

After the RSU grant, the director owns 18,266 common shares directly.

Was the transaction a purchase or a sale?

Neither; it was a stock-based compensation grant with no shares sold.

What is the cash value of the RSU award?

The grant replaces a $16,875 cash retainer, equating to 108 RSUs.

Does the Form 4 contain any new operating or financial data for Natera?

No. The filing is limited to the director’s equity compensation update and contains no business performance information.