Natera director-linked trusts sell 18,064 shares

The trust sales were made under a Rule 10b5-1 plan adopted by Sheena Jonathan on June 11, 2026.

Rhea-AI Filing Summary

Natera, Inc. (NTRA) director and co-founder Sheena Jonathan reported sales of 18,064 common shares by Caraluna 1 Trust and Caraluna 2 Trust on September 23, 2026, across 12 transactions. The sales were made under a Rule 10b5-1 trading plan adopted on June 11, 2026. The trusts held the shares for their beneficiaries, and Jonathan disclaimed beneficial ownership.

Insider Trade Summary 10b5-1

Net Seller: 18,064 shares

Net Sell 13 txns

Insider Sheena Jonathan

Role Director

Sold 18,064 shs ($7.01M)

Type	Security	Shares	Price	Value
Sale	Common Stock F1, F2, F3	400	$385.1025	$154K
Sale	Common Stock F1, F4, F3	2,175	$386.7144	$841K
Sale	Common Stock F1, F5, F3	2,734	$387.6545	$1.06M
Sale	Common Stock F1, F6, F3	1,293	$388.7071	$503K
Sale	Common Stock F1, F7, F3	2,320	$389.685	$904K
Sale	Common Stock F1, F3	110	$390.42	$43K
Sale	Common Stock F1, F8, F3	390	$385.2906	$150K
Sale	Common Stock F1, F9, F3	2,300	$386.6396	$889K
Sale	Common Stock F1, F10, F3	2,846	$387.7351	$1.10M
Sale	Common Stock F1, F11, F3	1,341	$388.7637	$521K
Sale	Common Stock F1, F12, F3	1,935	$389.7108	$754K
Sale	Common Stock F1, F13, F3	220	$390.525	$86K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 9,000 shares (Indirect, By Caraluna 1 Trust); Common Stock — 9,000 shares (Indirect, By Caraluna 2 Trust); Common Stock — 221,314 shares (Direct)

Footnotes (13)

1. F1. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 11, 2026.
2. F2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.0350 to $385.1900 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. F3. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities.
4. F4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.1750 to $387.1700 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. F5. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $387.21 to $388.12 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. F6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $388.3050 to $389.0400 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.
7. F7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $389.3650 to $390.2850 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. F8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.0350 to $386.0150 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.
9. F9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.17 to $387.16 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. F10. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $387.21 to $388.19 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. F11. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $388.35 to $389.33 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. F12. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $389.3650 to $390.2050 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. F13. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $390.42 to $390.63 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.

Key Figures

Common shares sold: 18,064 shares Direct common shares held: 221,314 shares Reported sale transactions: 12 transactions +2 more

5 metrics

Common shares sold 18,064 shares By Caraluna 1 Trust and Caraluna 2 Trust on September 23, 2026

Direct common shares held 221,314 shares Position listed for Sheena Jonathan on September 23, 2026

Reported sale transactions 12 transactions September 23, 2026

Weighted-average sale price $385.1025 per share 400 shares sold by Caraluna 1 Trust on September 23, 2026

Weighted-average sale price $390.5250 per share 220 shares sold by Caraluna 2 Trust on September 23, 2026

Key Terms

Rule 10b5-1 trading plan, weighted average price, beneficial ownership

3 terms

Rule 10b5-1 trading plan regulatory

"pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person"

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.

beneficial ownership regulatory

"The Reporting Person disclaims beneficial ownership over such securities."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many NTRA shares were sold by the Caraluna trusts?

The Caraluna 1 and Caraluna 2 Trusts sold 18,064 Natera common shares on September 23, 2026, across 12 reported transactions. The sales were made under a Rule 10b5-1 plan adopted on June 11, 2026.

What direct NTRA shareholding was listed for Sheena Jonathan?

The listed direct position for Natera director and co-founder Sheena Jonathan was 221,314 common shares on September 23, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/25/2026 - 09:35 PM Accepted by SEC EDGAR 09/25/2026 - 09:35 PM Learn about SEC filing dates

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^*

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)

X	Director		10% Owner
	Officer (give title below)	X	Other (specify below)
			CO-FOUNDER

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/23/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form 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)
			Code	V	Amount	(A) or (D)	Price
Common Stock								221,314	D
Common Stock	09/23/2026		S		400(1)	D	$385.1025(2)	17,632	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		2,175(1)	D	$386.7144(4)	15,457	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		2,734(1)	D	$387.6545(5)	12,723	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		1,293(1)	D	$388.7071(6)	11,430	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		2,320(1)	D	$389.685(7)	9,110	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		110(1)	D	$390.42	9,000	I	By Caraluna 1 Trust(3)
Common Stock	09/23/2026		S		390(1)	D	$385.2906(8)	17,642	I	By Caraluna 2 Trust(3)
Common Stock	09/23/2026		S		2,300(1)	D	$386.6396(9)	15,342	I	By Caraluna 2 Trust(3)
Common Stock	09/23/2026		S		2,846(1)	D	$387.7351(10)	12,496	I	By Caraluna 2 Trust(3)
Common Stock	09/23/2026		S		1,341(1)	D	$388.7637(11)	11,155	I	By Caraluna 2 Trust(3)
Common Stock	09/23/2026		S		1,935(1)	D	$389.7108(12)	9,220	I	By Caraluna 2 Trust(3)
Common Stock	09/23/2026		S		220(1)	D	$390.525(13)	9,000	I	By Caraluna 2 Trust(3)

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 11, 2026.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.0350 to $385.1900 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. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities.

4. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.1750 to $387.1700 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 $387.21 to $388.12 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 reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $388.3050 to $389.0400 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.

7. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $389.3650 to $390.2850 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. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $385.0350 to $386.0150 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.

9. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $386.17 to $387.16 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 $387.21 to $388.19 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 $388.35 to $389.33 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 $389.3650 to $390.2050 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 $390.42 to $390.63 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-Fact	09/25/2026
	** 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.
* Form 4: SEC 1474 (03-26)