Brophy Michael Burkes 4
4 · Natera, Inc. · Filed Jan 29, 2026
Research Summary
AI-generated summary of this filing
Natera CFO Michael Brophy Sells Shares
What Happened
Natera (NTRA) Chief Financial Officer Michael Brophy sold a total of 5,064 shares in open-market/private sales across January 27–29, 2026, generating gross proceeds of approximately $1.19 million. Individual transactions reported: 784 shares at $240.53 ($188,577); 1,237 shares at $237.66 ($293,988); 1,176 shares at $237.44 ($279,233); 991 shares at a weighted average $229.94 ($227,866); and 876 shares at a weighted average $230.92 ($202,289). These were sales, not purchases.
Key Details
- Transaction dates: Jan 27, 28 and 29, 2026. Filing date: Jan 29, 2026 (timely within the 2-business-day Form 4 window).
- Total shares sold: 5,064; total reported proceeds: ~$1,191,953.
- Shares owned after the transactions: not specified in the information provided here (see the Form 4 for exact post-transaction holdings).
- Footnotes: sales were partly to satisfy tax-withholding on vested RSUs (F1, F2) and were also effected under a Rule 10b5-1 trading plan adopted June 9, 2025 and modified Sept 10, 2025 (F3). Two sales are reported as weighted-average prices with small price ranges; the filer offers a full breakdown on request (F4, F5).
Context
These transactions are sales (often routine) and include tax-withholding disposals related to RSU vesting and plan-based executions under a 10b5-1 plan. Such filings document insider activity but do not by themselves indicate company performance or insiders’ future views.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-01-27$240.53/sh−784$188,577→ 63,339 total - Sale
Common Stock
[F2]2026-01-28$237.66/sh−1,237$293,988→ 62,102 total - Sale
Common Stock
[F3]2026-01-28$237.44/sh−1,176$279,233→ 60,926 total - Sale
Common Stock
[F3][F4]2026-01-29$229.94/sh−991$227,866→ 59,935 total - Sale
Common Stock
[F3][F5]2026-01-29$230.92/sh−876$202,289→ 59,059 total
Footnotes (5)
- [F1]The sale of shares was effected in order to satisfy tax withholding and remittance obligations in connection with the vesting of RSUs and made pursuant to a written instruction that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act contained in the Reporting Person's Stock Unit Agreement granted on January 26, 2024.
- [F2]The sale of shares was effected in order to satisfy tax withholding and remittance obligations in connection with the vesting of RSUs and made pursuant to a written instruction that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c) under the Exchange Act contained in the Reporting Person's Stock Unit Agreement granted on January 27, 2023.
- [F3]The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 9, 2025, as modified on September 10, 2025.
- [F4]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $229.67 to $230.63 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.
- [F5]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $230.70 to $231.29 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.