Form 4: Natera Co-Founder Sells Shares, Exercises RSUs
Insider Transaction Report
Natera Co-Founder Jonathan Sheena reported sales of common stock, primarily for tax obligations and under a pre-arranged trading plan, alongside the vesting of Restricted Stock Units.
Summary
- Jonathan Sheena, Co-Founder and Director of Natera, Inc. (NTRA), reported multiple transactions involving Natera common stock.
- On January 20, 2026, 2,981 shares were sold at $234.7384 to cover tax withholding obligations related to Restricted Stock Units (RSUs) granted on January 27, 2023.
- Also on January 20, 2026, 191 Restricted Stock Units (RSUs) vested and converted into common stock.
- On January 21, 2026, 93 shares were sold at $235 to satisfy tax withholding for RSUs granted on January 28, 2022.
- Additionally, on January 21, 2026, 2,470 shares were sold at a weighted average price of $234.1157, and 600 shares were sold at a weighted average price of $235.8183, both pursuant to a Rule 10b5-1 trading plan adopted on June 7, 2024.
- Following these transactions, Mr. Sheena directly owns 264,078 shares of common stock and indirectly owns 22,532 shares through Caraluna 1 Trust and 22,532 shares through Caraluna 2 Trust.
Sentiment
Score: 5
Explanation: The filing details routine insider transactions, including RSU vesting and sales for tax obligations and under a pre-arranged 10b5-1 plan, which are common and generally not indicative of significant positive or negative company performance.
Positives
- The vesting of 191 Restricted Stock Units (RSUs) indicates continued equity participation and alignment of interests with shareholders.
Negatives
- Sales of common stock by an insider, totaling 6,144 shares, could be perceived negatively, although explanations are provided for tax obligations and a pre-arranged trading plan.
Future Outlook
NA
Industry Context
NA
Related Party Transactions
- Jonathan Sheena holds indirect beneficial ownership of 22,532 shares through Caraluna 1 Trust and 22,532 shares through Caraluna 2 Trust.
Stakeholder Impact
- Shareholders: Minimal impact as these are routine insider transactions, often pre-scheduled.
- Employees: The RSU vesting indicates continued equity compensation practices for executives.
Next Steps
- The Restricted Stock Units (RSUs) granted on January 27, 2023, vest over four years, with the remaining shares vesting in 12 equal quarterly installments after the initial 25% vested on January 20, 2023, implying future vesting events.
Key Dates
| Date | Description |
|---|---|
| January 28, 2022 | Grant date of Restricted Stock Units (RSUs) for which tax withholding sales occurred on January 21, 2026. |
| January 20, 2023 | 25% of RSUs granted on January 27, 2023, vested. |
| January 27, 2023 | Grant date of Restricted Stock Units (RSUs) for which tax withholding sales occurred on January 20, 2026. |
| June 7, 2024 | Date Rule 10b5-1 trading plan was adopted by the Reporting Person. |
| January 20, 2026 | Date of RSU vesting and associated tax withholding sale, and conversion of 191 RSUs to common stock. |
| January 21, 2026 | Date of tax withholding sale and sales under Rule 10b5-1 trading plan. |
| January 22, 2026 | Date the Form 4 was signed. |
Keywords
Natera, NTRA, Form 4, insider trading, stock sale, RSU, restricted stock unit, Jonathan Sheena, Rule 10b5-1
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