Natera Executive Chairman Matthew Rabinowitz Exercises Options and Sells $20.1M in Stock Under 10b5-1 Plan

Executive Summary

On October 15, 2026, Matthew Rabinowitz, Executive Chairman and Director of Natera, Inc. ($NTRA), exercised options to acquire 50,000 shares of common stock at an exercise price of $10.41 per share and subsequently sold all 50,000 shares in the open market across multiple tranches at a weighted average price of approximately $402.64, generating gross sale proceeds of approximately $20.13 million.

Transaction Details

• Derivative Exercise: 50,000 stock options exercised at $10.41 per share (expiring June 8, 2027), leaving 0 options remaining under this grant.
• Sales Breakdown: The 50,000 shares were sold across 19 separate price tranches ranging between $387.97 and $408.60 per share.
• Pre-set Trading Plan: Footnotes indicate the transactions were executed pursuant to a Rule 10b5-1 trading plan adopted on June 12, 2026.
• Direct Ownership Impact: Because the shares sold corresponded precisely to the options exercised, Dr. Rabinowitz's direct holdings of common stock remained unchanged at 2,119,394 shares following the transactions.

Market Significance

While the gross dollar volume of the transaction is substantial (~$20.13M), the trading significance is categorized as Medium. The transaction was executed under a pre-established Rule 10b5-1 plan, represents the exercise and liquidation of options with upcoming maturities, and leaves the reporting owner with a significant direct ownership stake of over 2.11 million shares.