Brophy Michael Burkes 4
4 · Natera, Inc. · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Natera (NTRA) CFO Michael Brophy Sells Shares
What Happened
Michael Brophy, Chief Financial Officer of Natera, sold a total of 6,939 shares in open-market transactions on February 3, 2026. The sales were: 1,268 shares at $230.77 ($292,614); 700 shares at a weighted average $225.25 ($157,674); and 4,971 shares at a weighted average $227.45 ($1,130,639). Total proceeds were approximately $1,580,927. These were sales (routine disposition), not purchases.
Key Details
- Transaction date: February 3, 2026; Form 4 filed February 4, 2026 (timely filing).
- Individual transactions and values:
- 1,268 shares @ $230.77 = $292,614
- 700 shares @ weighted avg $225.25 = $157,674 (prices ranged $224.98–$225.42; see footnote)
- 4,971 shares @ weighted avg $227.45 = $1,130,639 (prices ranged $226.69–$227.68; see footnote)
- Shares owned after the transaction: not specified in the provided excerpt.
- Notable footnotes:
- F1: Some sales were to satisfy tax withholding related to RSU vesting.
- F2: Sales were effected under a Rule 10b5-1 trading plan adopted June 9, 2025 and modified Sept 10, 2025.
- F3 & F4: Reported prices for two lots are weighted averages covering the price ranges noted above; detailed per-price breakdowns are available on request.
Context
These dispositions were made under a pre-established 10b5-1 trading plan and to satisfy tax-withholding obligations tied to RSU vesting—common, non-informational reasons for insider sales. While insider purchases can be a stronger signal of confidence, routine sales for taxes or under automated plans are typical and do not by themselves indicate a change in management sentiment.
Insider Transaction Report
- Sale
Common Stock
[F1]2026-02-03$230.77/sh−1,268$292,614→ 57,791 total - Sale
Common Stock
[F2][F3]2026-02-03$225.25/sh−700$157,674→ 57,091 total - Sale
Common Stock
[F2][F4]2026-02-03$227.45/sh−4,971$1,130,639→ 52,120 total
Footnotes (4)
- [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 31, 2025.
- [F2]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.
- [F3]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $224.98 to $225.42 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.
- [F4]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $226.69 to $227.68 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.