Rabinowitz Matthew 4
4 · Natera, Inc. · Filed Mar 16, 2026
Research Summary
AI-generated summary of this filing
Natera (NTRA) Exec Chairman Matthew Rabinowitz Exercises Options, Sells Shares
What Happened
Matthew Rabinowitz, Executive Chairman and Director of Natera, exercised a total of 200,000 option shares (three exercises: 75,000 on 3/12, 75,000 on 3/13, 50,000 on 3/16) at $9.59 per share (exercise cost ≈ $1,918,000). He sold the 200,000 shares in open‑market transactions across March 12–16, 2026 for aggregate gross proceeds of about $38,283,383. These actions are predominately sales (routine monetization following option exercises), not open‑market purchases.
Key Details
- Dates: March 12, 13 and 16, 2026. Exercise code = M (option exercise); sale code = S (open‑market sale).
- Exercise details: 75,000 @ $9.59 (3/12), 75,000 @ $9.59 (3/13), 50,000 @ $9.59 (3/16). Option shares are fully exercisable (F24).
- Sales: 200,000 shares sold in multiple lots at weighted‑average prices across the listed ranges; gross proceeds ≈ $38.28M. Reported per‑lot/weighted prices and value ranges are footnoted in the filing (F2–F23).
- Net change from these transactions: zero shares (200,000 acquired by exercise and 200,000 sold). The filing excerpt does not state total shares owned after these transactions.
- Plan/notes: Sales were effected pursuant to a Rule 10b5‑1 trading plan adopted Dec 11, 2025 (F1). Several sale line items report weighted‑average prices with price ranges—details available on request per the footnotes.
- Filing timeliness: Form 4 filed 2026‑03‑16 for transactions on March 12–16; no late filing flag indicated in the excerpt.
Context
- This was essentially an exercise-and-sell pattern (exercise of options followed by immediate sales), a common way for insiders to monetize vested option grants; the derivative entries showing $0.00 reflect conversion/settlement of the option instruments.
- The presence of a 10b5‑1 plan indicates the sales were pre‑arranged, which generally reduces the implication that trades were timed on nonpublic information.
- These transactions are factual disclosures of insider activity and do not themselves indicate company performance or management sentiment.
Insider Transaction Report
Form 4
Natera, Inc.NTRA
Rabinowitz Matthew
DirectorEXECUTIVE CHAIRMAN
Transactions
- Exercise/Conversion
Common Stock
2026-03-12$9.59/sh+75,000$719,250→ 2,385,772 total - Sale
Common Stock
[F1][F2]2026-03-12$186.75/sh−8,091$1,510,989→ 2,377,681 total - Sale
Common Stock
[F1][F3]2026-03-12$187.52/sh−5,809$1,089,300→ 2,371,872 total - Sale
Common Stock
[F1][F4]2026-03-12$188.52/sh−6,451$1,216,112→ 2,365,421 total - Sale
Common Stock
[F1][F5]2026-03-12$189.64/sh−2,886$547,307→ 2,362,535 total - Sale
Common Stock
[F1][F6]2026-03-12$190.53/sh−22,063$4,203,721→ 2,340,472 total - Sale
Common Stock
[F1][F7]2026-03-12$191.55/sh−9,896$1,895,595→ 2,330,576 total - Sale
Common Stock
[F1][F8]2026-03-12$192.79/sh−8,579$1,653,957→ 2,321,997 total - Sale
Common Stock
[F1][F9]2026-03-12$193.58/sh−7,043$1,363,389→ 2,314,954 total - Sale
Common Stock
[F1][F10]2026-03-12$194.57/sh−4,082$794,218→ 2,310,872 total - Sale
Common Stock
[F1]2026-03-12$195.32/sh−100$19,532→ 2,310,772 total - Exercise/Conversion
Common Stock
2026-03-13$9.59/sh+75,000$719,250→ 2,385,772 total - Sale
Common Stock
[F1][F11]2026-03-13$187.63/sh−17,037$3,196,632→ 2,368,735 total - Sale
Common Stock
[F1][F12]2026-03-13$188.54/sh−21,476$4,049,190→ 2,347,259 total - Sale
Common Stock
[F1][F13]2026-03-13$189.50/sh−21,504$4,075,006→ 2,325,755 total - Sale
Common Stock
[F1][F14]2026-03-13$190.46/sh−13,883$2,644,206→ 2,311,872 total - Sale
Common Stock
[F1][F15]2026-03-13$191.22/sh−1,100$210,345→ 2,310,772 total - Exercise/Conversion
Common Stock
2026-03-16$9.59/sh+50,000$479,500→ 2,360,772 total - Sale
Common Stock
[F1][F16]2026-03-16$190.07/sh−100$19,007→ 2,360,672 total - Sale
Common Stock
[F1][F17]2026-03-16$190.68/sh−300$57,203→ 2,360,372 total - Sale
Common Stock
[F1][F18]2026-03-16$192.43/sh−900$173,185→ 2,359,472 total - Sale
Common Stock
[F1][F19]2026-03-16$194.17/sh−2,300$446,593→ 2,357,172 total - Sale
Common Stock
[F1][F20]2026-03-16$195.42/sh−4,875$952,696→ 2,352,297 total - Sale
Common Stock
[F1][F21]2026-03-16$196.23/sh−24,814$4,869,291→ 2,327,483 total - Sale
Common Stock
[F1][F22]2026-03-16$197.22/sh−16,457$3,245,612→ 2,311,026 total - Sale
Common Stock
[F1][F23]2026-03-16$198.02/sh−254$50,297→ 2,310,772 total - Exercise/Conversion
Stock Option (right to buy)
[F24]2026-03-12−75,000→ 225,000 totalExercise: $9.59Exp: 2026-04-07→ Common Stock (75,000 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F24]2026-03-13−75,000→ 150,000 totalExercise: $9.59Exp: 2026-04-07→ Common Stock (75,000 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F24]2026-03-16−50,000→ 100,000 totalExercise: $9.59Exp: 2026-04-07→ Common Stock (50,000 underlying)
Holdings
- 5,000(indirect: By Spouse)
Common Stock
Footnotes (24)
- [F1]The sale of shares was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 11, 2025.
- [F10]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.10 to $195.03 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.
- [F11]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.07 to $188.06 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.
- [F12]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $188.07 to $189.06 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.
- [F13]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.07 to $190.06 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.
- [F14]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.07 to $190.94 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.
- [F15]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.08 to $191.37 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.
- [F16]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $189.61 to $190.12 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.
- [F17]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $190.6650 to $190.7800 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.
- [F18]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.40 to $192.45 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.
- [F19]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.63 to $194.47 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.
- [F2]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $186.09 to $187.08 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.
- [F20]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $194.76 to $195.75 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.
- [F21]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $195.7600 to $196.7550 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.
- [F22]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $196.76 to $197.68 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.
- [F23]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $197.98 to $198.17 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.
- [F24]The option shares are fully exercisable.
- [F3]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $187.09 to $188.08 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 $188.10 to $189.09 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 $189.10 to $190.09 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 $190.10 to $191.04 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 reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $191.10 to $192.05 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.
- [F8]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $192.10 to $193.09 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.
- [F9]The reported price in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $193.10 to $194.09 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.
Signature
/s/ Tami Chen, Attorney-in-Fact|2026-03-16