Brophy Michael Burkes 4

What Happened

• Michael Brophy (CFO) disposed of a total of 5,063 Natera (NTRA) shares in open-market sales on April 27 and April 29, 2026, generating aggregate proceeds of about $1,001,646.
  • 2026-04-27: 771 shares @ $203.75 = $157,091 (sale)
  • 2026-04-27: 1,222 shares @ $204.39 = $249,765 (sale)
  • 2026-04-29: 300 shares @ $190.12 = $57,035 (sale)
  • 2026-04-29: 500 shares @ $192.13 = $96,064 (sale)
  • 2026-04-29: 1,000 shares @ $193.78 = $193,779 (sale)
  • 2026-04-29: 1,070 shares @ $194.82 = $208,460 (sale)
  • 2026-04-29: 200 shares @ $197.26 = $39,452 (sale)
• These are sales (not purchases) and are typically viewed as routine transactions rather than a direct bullish signal.

Key Details

• Transaction dates: April 27, 2026 and April 29, 2026. Prices ranged from about $190.08 to $204.39 across the trades (several reported as weighted-average prices with narrower ranges noted).
• Shares owned after the transactions: Not specified in the information provided.
• Reported reasons/footnotes:
  • Some sales were to satisfy tax withholding related to RSU vesting (footnotes indicate RSUs granted Jan 26, 2024 and Jan 27, 2023).
  • Other sales were effected pursuant to a Rule 10b5‑1 trading plan adopted June 9, 2025 (amended Sept 5, 2025).
  • Several prices are reported as weighted averages with specific per-share ranges disclosed in the filing (holder will provide breakdown on request).
• Filing timeliness: Form 4 was filed April 29, 2026 for transactions on April 27 and April 29 — appears to be a timely filing.

Context

• Sales to cover tax withholding for vested RSUs and trades executed under a 10b5‑1 plan are common and generally considered routine administrative transactions.
• No purchases, option exercises, or gifts were reported in this filing.