Form 4: Natera CFO Michael Brophy Sells Shares to Cover Tax Obligations and Under 10b5-1 Plan
SEC Form 4
Michael Brophy, CFO of Natera, Inc., sold shares of common stock to cover tax obligations related to vesting RSUs and under a pre-arranged 10b5-1 trading plan.
Summary
- On October 28, 2024, Michael Brophy, the CFO of Natera, Inc., sold 1,238 shares of common stock at a price of $118.2105 per share.
- This transaction reduced his direct holdings to 71,471 shares.
- The sale was to satisfy tax withholding obligations related to the vesting of Restricted Stock Units (RSUs) granted on January 27, 2023, and was executed under a written instruction intended to comply with Rule 10b5-1(c).
- On October 29, 2024, Brophy sold an additional 754 shares at $119.93 per share, further reducing his holdings to 70,717 shares.
- These sales were executed pursuant to a Rule 10b5-1 trading plan adopted on March 14, 2023.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine stock sales by an executive. It doesn't inherently convey positive or negative sentiment.
Industry Context
Sales by company executives are a normal part of corporate governance. Sales to cover tax obligations are also common. The use of 10b5-1 plans allows insiders to sell shares without being accused of trading on inside information.
Key Dates
| Date | Description |
|---|---|
| January 27, 2023 | Date of Stock Unit Agreement grant. |
| March 14, 2023 | Date the Reporting Person adopted a Rule 10b5-1 trading plan. |
| October 28, 2024 | Date of first reported stock sale. |
| October 29, 2024 | Date of second reported stock sale. |
| October 30, 2024 | Date of Form 4 filing. |
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