[Form 4] Natera, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Natera, Inc. (NTRA) reported insider selling by a director on a Form 4. On November 24, 2025, estate planning vehicles associated with the reporting person sold multiple blocks of Natera common stock, each reported as open-market sales. The trades used weighted average prices, with individual transactions occurring in ranges from $228.70 to $239.07 per share.

After the reported sales, the director indirectly beneficially owned 1,154,198 shares of Natera common stock through estate planning vehicles. One footnote states this indirect position includes 4,411 shares transferred to an estate planning vehicle in a transaction exempt from Section 16. The pricing details are available in ranges, and the reporting person has undertaken to provide exact breakdowns of shares sold at each price upon request.

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

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^*

BOTHA ROELOF

(Last) (First) (Middle)

2800 SAND HILL ROAD, SUITE 101

(Street)

MENLO PARK CA 94025

(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)
11/24/2025

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	11/24/2025		S		2,000	D	$228.9672(1)	1,227,198(2)	I	Estate planning vehicles
Common Stock	11/24/2025		S		1,000	D	$230.03(3)	1,226,198	I	Estate planning vehicles
Common Stock	11/24/2025		S		900	D	$231.2335(4)	1,225,298	I	Estate planning vehicles
Common Stock	11/24/2025		S		3,606	D	$232.7533(5)	1,221,692	I	Estate planning vehicles
Common Stock	11/24/2025		S		7,032	D	$233.6601(6)	1,214,660	I	Estate planning vehicles
Common Stock	11/24/2025		S		9,991	D	$234.5512(7)	1,204,669	I	Estate planning vehicles
Common Stock	11/24/2025		S		9,623	D	$235.6512(8)	1,195,046	I	Estate planning vehicles
Common Stock	11/24/2025		S		6,173	D	$236.538(9)	1,188,873	I	Estate planning vehicles
Common Stock	11/24/2025		S		15,336	D	$237.693(10)	1,173,537	I	Estate planning vehicles
Common Stock	11/24/2025		S		18,839	D	$238.5699(11)	1,154,698	I	Estate planning vehicles
Common Stock	11/24/2025		S		500	D	$239.11	1,154,198	I	Estate planning vehicles
Common Stock								2,428	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 price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $228.70 to $229.63. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

2. Includes 4,411 shares transferred to an estate planning vehicle in a transaction exempt from Section 16 pursuant to Rule 16a-13.

3. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $230.00 to $230.05. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

4. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $231.04 to $231.83. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

5. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $232.09 to $233.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

6. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $233.09 to $234.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

7. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $234.09 to $235.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

8. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $235.09 to $236.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

9. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $236.09 to $237.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

10. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $237.09 to $238.08. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

11. The price reported in column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $238.09 to $239.07. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff at the Securities and Exchange Commission, upon request, the full information regarding the number of shares sold at each separate price within the ranges set forth above.

	By: /s/ Jung Yeon Son, by power of attorney for Roelof F. Botha	11/26/2025
	** 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 transaction did Natera (NTRA) report on this Form 4?

The filing reports that a director of Natera, Inc. sold multiple blocks of Natera common stock on November 24, 2025 through estate planning vehicles in open-market transactions.

At what prices were Natera (NTRA) shares sold in the reported Form 4?

The sales were reported using weighted average prices, with underlying individual trades occurring in price ranges from $228.70 to $239.07 per share, depending on the specific transaction.

How many Natera (NTRA) shares does the director beneficially own after these sales?

Following the reported transactions, the director indirectly beneficially owned 1,154,198 shares of Natera common stock, held through estate planning vehicles.

How is the director related to Natera (NTRA)?

The reporting person is identified as a Director of Natera, Inc., as indicated in the relationship section of the Form 4.

Are the Natera (NTRA) shares held directly or indirectly by the reporting person?

The shares referenced in the main line following the transactions are held indirectly through estate planning vehicles, as stated in the ownership and nature of beneficial ownership columns.

What does the Form 4 say about a transfer exempt from Section 16 for Natera (NTRA)?

A footnote explains that the indirect holdings include 4,411 shares transferred to an estate planning vehicle in a transaction that is exempt from Section 16 pursuant to Rule 16a-13.

Can investors get more detail on the exact Natera (NTRA) trade prices in this Form 4?

Yes. For each weighted average price, the filing states the director will provide the number of shares sold at each separate price within the reported ranges to the issuer, any security holder, or SEC staff upon request.