Chapman Steven Leonard 4
4 · Natera, Inc. · Filed Feb 4, 2026
Research Summary
AI-generated summary of this filing
Natera (NTRA) CEO Steven Chapman Sells Shares
What Happened Steven L. Chapman, President and CEO of Natera, sold a total of 90,024 shares of Natera common stock in transactions on February 2–3, 2026, generating aggregate proceeds of approximately $20.77 million. The sales were reported as open-market dispositions at weighted-average prices per lot between about $228.50 and $234.00. Most of the sales were effected pursuant to a Rule 10b5‑1 trading plan; a portion of shares were sold to satisfy tax withholding on vested RSUs.
Key Details
- Transaction dates: February 2, 2026 (majority) and February 3, 2026 (4,725 shares).
- Lots and proceeds (reported):
- 6,631 sh @ $229.08 = $1,519,060
- 41,847 sh @ $230.03 = $9,625,957
- 20,079 sh @ $230.95 = $4,637,173
- 9,197 sh @ $232.41 = $2,137,444
- 7,445 sh @ $233.31 = $1,737,006
- 100 sh @ $234.00 = $23,400
- 4,725 sh @ $230.77 = $1,090,379
- Aggregate: 90,024 shares sold for ~$20.77M.
- Price details: reported as weighted averages; reported per-lot price ranges span about $228.50 to $233.83 (one reported at $234.00). The filing notes that per-price breakdowns are available on request.
- Footnotes:
- Sales were effected under a Rule 10b5‑1 trading plan adopted Dec 11, 2023, amended Dec 2, 2024.
- A tranche of shares was sold to satisfy tax withholding for RSU vesting under the Reporting Person’s Stock Unit Agreement (Jan 31, 2025).
- Shares owned after the transactions: not specified in the provided filing excerpt.
- Filing: Form 4 filed Feb 4, 2026 (covers trades on Feb 2–3) — appears timely.
Context These transactions are sales (code S) rather than purchases; sales can be routine (e.g., pre-set 10b5‑1 plans or tax-withholding) and do not by themselves indicate the insider’s view of the company’s prospects. The use of a 10b5‑1 plan provides an affirmative defense to insider trading claims because trades are pre‑arranged. Retail investors typically treat purchases by insiders as stronger signals than routine sales.
Insider Transaction Report
- Sale
Common Stock
[F1][F2]2026-02-02$229.08/sh−6,631$1,519,060→ 206,549 total - Sale
Common Stock
[F1][F3]2026-02-02$230.03/sh−41,847$9,625,957→ 164,702 total - Sale
Common Stock
[F1][F4]2026-02-02$230.95/sh−20,079$4,637,173→ 144,623 total - Sale
Common Stock
[F1][F5]2026-02-02$232.41/sh−9,197$2,137,444→ 135,426 total - Sale
Common Stock
[F1][F6]2026-02-02$233.31/sh−7,445$1,737,006→ 127,981 total - Sale
Common Stock
[F1]2026-02-02$234.00/sh−100$23,400→ 127,881 total - Sale
Common Stock
[F7]2026-02-03$230.77/sh−4,725$1,090,379→ 123,156 total
Footnotes (7)
- [F1]The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 11, 2023, as amended on December 2, 2024.
- [F2]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $228.50 to $229.43 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.
- [F3]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $229.61 to $230.60 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 $230.61 to $231.55 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 $231.94 to $232.92 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.
- [F6]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $232.94 to $233.83 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.
- [F7]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.