Natera (NTRA) CEO & Director Steven Chapman Files Form 144 for $1.19M Sale

Executive Summary

On November 2, 2026, Steven Leonard Chapman, Officer and Director of Natera, Inc. (NTRA), filed a Form 144 notice disclosing the intent to sell 2,866 shares of Common Stock through Morgan Stanley Smith Barney LLC. The aggregate market value of the proposed transaction is approximately $1.19 million, implying a share price of roughly $415.64.

Transaction & Acquisition Context

• Nature of Acquisition: The 2,866 shares were acquired via the vesting of restricted stock from the issuer on July 26, 2026.
• Pre-Arranged Trading Plan: The transaction is executed pursuant to a Rule 10b5-1 trading plan adopted on March 5, 2026.
• Recent Prior Activity: In the preceding three months, the reporting person completed multiple sales totaling 11,741 shares generating gross proceeds of over $4.27 million, largely reflecting programmatic sell-to-cover or scheduled post-vesting dispositions.

Trading Significance Assessment

The trading significance is rated as Low:

1. Ownership Scale: The 2,866 shares represent a de minimis fraction (less than 0.002%) of Natera's 144,144,170 outstanding shares.
2. Rule 10b5-1 Program: Sales conducted under a pre-established 10b5-1 plan scheduled months in advance typically indicate routine personal financial management and equity compensation liquidation rather than a shift in fundamental sentiment.