Form 4: Natera CEO Sells Shares for Tax Obligations Under 10b5-1 Plan
Insider Transaction Report
Natera, Inc. CEO and President Steven Leonard Chapman sold 6,092 shares of common stock for approximately $140 per share to cover tax withholding related to RSU vesting, as part of a pre-arranged 10b5-1 plan.
Summary
- Steven Leonard Chapman, CEO and President, Director, and 10% Owner of Natera, Inc. (NTRA), reported a transaction.
- On July 28, 2025, Mr. Chapman disposed of 6,092 shares of Natera Common Stock.
- The shares were sold at a price of $139.8083 per share.
- The sale was executed to satisfy tax withholding and remittance obligations associated with the vesting of Restricted Stock Units (RSUs).
- This transaction was conducted under a Rule 10b5-1(c) written instruction, part of Stock Unit Agreements granted on January 27, 2023, and January 26, 2024.
- Following this transaction, Mr. Chapman beneficially owns 169,400 shares of Natera Common Stock directly.
Sentiment
Score: 5
Explanation: The transaction is a non-discretionary sale for tax purposes related to RSU vesting, which is a common and expected event for executives. It does not reflect a change in management's confidence in the company's future, thus it is neutral in sentiment.
Future Outlook
The filing does not contain any forward-looking statements or guidance beyond the details of the reported transaction.
Industry Context
This filing is a routine insider transaction report for a publicly traded biotechnology company, Natera, Inc., which specializes in cell-free DNA testing. Such sales for tax purposes are common for executives receiving equity compensation and are generally not indicative of broader industry trends or company-specific performance issues.
Stakeholder Impact
- Shareholders: The sale represents a minor reduction in the CEO's direct beneficial ownership, but it is for a routine tax obligation and not a discretionary sale, so the impact on shareholder confidence is likely minimal.
Key Dates
| Date | Description |
|---|---|
| 01/27/2023 | Grant date of Stock Unit Agreements under which RSUs vested, leading to the reported sale. |
| 01/26/2024 | Grant date of Stock Unit Agreements under which RSUs vested, leading to the reported sale. |
| 07/28/2025 | Date of the reported transaction (sale of common stock). |
| 07/30/2025 | Date the Form 4 filing was signed. |
Keywords
Natera, NTRA, Steven Leonard Chapman, CEO, Insider Trading, Form 4, Stock Sale, Tax Withholding, RSU Vesting, 10b5-1 Plan, Biotechnology, Genomics
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