Form 4: Natera CEO Sells Shares for Tax Obligations

Natera's CEO, Steven Chapman, sold 6,015 shares of common stock across two transactions in late October 2025 to cover tax withholding obligations related to RSU vesting.

Summary

• Steven Leonard Chapman, CEO and President of Natera, Inc. (NTRA), reported two sales of common stock.
• On October 27, 2025, 2,335 shares were sold at a price of $192.324 per share.
• On October 28, 2025, an additional 3,680 shares were sold at a price of $191.4619 per share.
• These sales were executed to satisfy tax withholding and remittance obligations associated with the vesting of Restricted Stock Units (RSUs).
• The transactions were made pursuant to a written instruction intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act.
• Following these transactions, Steven Chapman beneficially owns 149,840 shares of Natera common stock.
• The RSUs related to the October 27, 2025 sale were granted on January 26, 2024, and for the October 28, 2025 sale, they were granted on January 27, 2023.

Sentiment

Score: 5

Explanation: The filing reports routine insider stock sales for tax purposes related to RSU vesting, executed under a pre-arranged plan. This is a neutral event, as it does not reflect a change in management's outlook on the company's prospects but rather an administrative necessity of equity compensation.

Positives

• The vesting of Restricted Stock Units (RSUs) indicates that the CEO continues to meet performance criteria and remains an integral part of the company's leadership.
• The sales were conducted under a pre-arranged 10b5-1 plan, demonstrating a structured and compliant approach to insider transactions.

Negatives

• Insider selling, even for tax purposes, can sometimes be perceived negatively by the market, although the stated reason mitigates this concern.

Key Dates

Keywords

Natera, NTRA, Steven Chapman, Form 4, Insider Trading, Stock Sale, RSU Vesting, Tax Obligations, 10b5-1 Plan