Natera (NASDAQ: NTRA) co-founder reports 4,570-share planned stock sale

Rhea-AI Filing Summary

Natera, Inc. director and co-founder Jonathan Sheena reported open-market sales totaling 4,570 shares of common stock. On March 18 and March 20, 2026, shares were sold at prices generally around $196 to $201 per share through multiple transactions.

A portion of the sales was made from direct holdings, leaving 259,255 shares held directly afterward. Additional sales were conducted by Caraluna 1 Trust and Caraluna 2 Trust, which together held 21,032 shares each after the transactions, and are described as held for the benefit of trust beneficiaries, with Sheena disclaiming beneficial ownership.

Footnotes state that the sales were executed under pre-arranged Rule 10b5-1 trading plans adopted on June 7, 2024 and December 11, 2024, indicating the timing was set in advance.

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

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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).

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)
03/18/2026

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	03/18/2026		S		300(1)	D	$196.2667(2)	262,025	D
Common Stock	03/18/2026		S		956(1)	D	$197.8401(3)	261,069	D
Common Stock	03/18/2026		S		1,814(1)	D	$198.6522(4)	259,255	D
Common Stock	03/20/2026		S		239(5)	D	$198.8549(6)	21,543	I	By Caraluna 1 Trust(7)
Common Stock	03/20/2026		S		140(5)	D	$199.8243(8)	21,403	I	By Caraluna 1 Trust(7)
Common Stock	03/20/2026		S		371(5)	D	$200.974(9)	21,032	I	By Caraluna 1 Trust(7)
Common Stock	03/20/2026		S		235(5)	D	$198.4859(10)	21,547	I	By Caraluna 2 Trust(7)
Common Stock	03/20/2026		S		235(5)	D	$199.877(11)	21,312	I	By Caraluna 2 Trust(7)
Common Stock	03/20/2026		S		280(5)	D	$200.9023(12)	21,032	I	By Caraluna 2 Trust(7)

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, 2024.

2. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.02 to $196.39 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 $197.42 to $198.09 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 $198.4200 to $198.9050 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 sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2024.

6. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $198.4100 to $199.0950 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. Held for the benefit of the beneficiaries of the trust. The Reporting Person disclaims beneficial ownership over such securities.

8. The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $199.5950 to $200.1300 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 $200.6650 to $201.1300 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 $198.4100 to $199.0950 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 $199.5950 to $200.1800 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 $200.6650 to $201.1300 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	03/20/2026
	** 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)

FAQ

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

Jonathan Sheena reported open-market sales of 4,570 Natera common shares. The sales occurred on March 18 and March 20, 2026, at prices around $196 to $201 per share, and included both direct holdings and shares held in related trusts.

How many Natera (NTRA) shares did Jonathan Sheena sell and at what prices?

The filing shows total sales of 4,570 Natera shares across nine transactions. Reported weighted average prices per trade ranged roughly from $196.02 to $201.13 per share, with detailed price ranges for each block available on request as noted in multiple footnotes.

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

Yes. Footnotes explain that the sales were executed pursuant to Rule 10b5-1 trading plans. One plan was adopted on June 7, 2024, and another on December 11, 2024, indicating the trades were pre-arranged rather than timed at the insider’s discretion.

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

After the reported direct sales on March 18, 2026, Sheena’s direct holdings stood at 259,255 Natera common shares. This figure comes from the post-transaction balance shown in the Form 4’s non-derivative transaction entries for his directly held stock.

What role do the Caraluna 1 and Caraluna 2 Trusts play in the Natera (NTRA) Form 4?

Some sales involved shares held by Caraluna 1 Trust and Caraluna 2 Trust, each with 21,032 shares remaining after the transactions. A footnote states these securities are held for the benefit of trust beneficiaries and that the reporting person disclaims beneficial ownership of those trust-held shares.

Does this Natera (NTRA) Form 4 involve any option exercises or derivative securities?

No. All reported transactions involve Natera common stock classified as non-derivative. The derivative securities section is empty, and the transaction summary shows zero derivative exercises, gifts, or tax-withholding events in connection with these sales.