Natera Co-Founder & Director Matthew Rabinowitz Files Form 144 to Sell $19.7M in Stock

Overview

On October 15, 2026, Matthew Rabinowitz, Director and Officer (Co-Founder) of Natera, Inc. ($NTRA), filed a Form 144 notice of proposed sale of 50,000 shares of Common Stock with an estimated aggregate market value of $19,737,500.00, representing an implied price of $394.75 per share.

Transaction Details

• Securities to be Sold: 50,000 shares of Common Stock
• Estimated Aggregate Market Value: $19,737,500.00
• Approximate Sale Date: October 15, 2026
• Shares Outstanding: 144,144,170 shares (~0.035% of outstanding shares)
• Nature of Acquisition: Previously Exercised Stock Options from Issuer on October 15, 2026 (Cash payment)
• Broker: Morgan Stanley Smith Barney LLC Executive Financial Services

Rule 10b5-1 Trading Plan

The notice indicates this proposed transaction is executed pursuant to a pre-established Rule 10b5-1 trading plan adopted on June 12, 2026, satisfying the standard cooling-off period requirements.

Recent Trading Activity (Past 3 Months)

Dr. Rabinowitz has engaged in multiple scheduled sales under this 10b5-1 plan and related entities over the preceding three months:

• 09/15/2026: 50,000 shares sold for gross proceeds of $17,359,280.00
• 09/14/2026: 50,000 shares sold for gross proceeds of $16,737,975.00
• 09/11/2026: 50,000 shares sold for gross proceeds of $16,398,265.00
• 08/03/2026: 731 shares sold via trust for gross proceeds of $195,900.18
• 07/27/2026: 1,718 shares sold for gross proceeds of $447,523.19

Market Impact & Significance

Trading significance is rated High due to the size of the transaction ($19.74M) and the insider's key leadership role as co-founder and director. However, the systematic execution under a pre-scheduled Rule 10b5-1 plan, alongside similar tranches executed in September 2026, indicates programmatic portfolio diversification following option exercises rather than discretionary selling based on near-term corporate developments.