NTRA insider ownership: who sold, why, and what they still hold

What stands out

Four directors sold $49.4M with no disclosed plan: Roelof Botha ($34.9M), Herm Rosenman ($11.0M) and Gail Marcus ($2.4M), plus 1 more. The filings don't state a reason.Roelof Botha: largest such sale, Jun 1, 2026 · Herm Rosenman: largest such sale, Dec 12, 2025 · Gail Marcus: largest such sale, Jun 5, 2026

A share of stake is shown for 0 of the 12 officers and directors who sold. 17 are left out

Left out: Matthew Rabinowitz, Roelof Botha, Steven Chapman, Jonathan Sheena, Daniel Rabinowitz, John Fesko, Solomon Moshkevich, Michael Brophy, Herm Rosenman, James Healy, Roy Baynes, Rowan Chapman, Gail Marcus, Brinkley Williams, Monica Bertagnolli, Eric Rubin and Thomas Lynch Jr. (share of stake is being verified).

Disclosed company stock is not an insider's whole wealth.

Who sold, and how much of their stake

Officers and directors, past 12 months. Their share of stake is being verified and is not shown yet; amounts and trading plans are below.

Matthew Rabinowitz

Executive Chairman, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$124MDisclosed plan

Steven Chapman

CEO and President, Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$90.7MDisclosed plan

Roelof Botha

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$34.9MNo plan disclosed

Jonathan Sheena

Director

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$29.8MDisclosed plan

Solomon Moshkevich

President, Clinicaldiagnostics

Not confirmed

Share of stake not shown: share of stake is being verified. Why

$23.6M95% planned, 5% to cover taxes

All 12 sellers

Selling by month

Officers and directors, Oct 2025 to Oct 2026. Each sale is counted once: under a disclosed plan, else to cover taxes, else no plan disclosed.

Disclosed planTo cover taxesNo plan disclosedOne dollar scale for every month; the tallest bar is labeled

Recent activity

Past 30 days, Sep 14, 2026 to Oct 13, 2026

Oct 7, 2026Matthew Rabinowitz gave away 6K shares as a gift.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Matthew Rabinowitz Executive Chairman, Director	6,000	n/a	n/a	n/a	Oct 7, 2026	Oct 9, 2026

Oct 1, 20262 executives sold 4.3K shares ($1.8M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Solomon Moshkevich President, Clinicaldiagnostics	3,000	$414.22	n/a	n/a	Oct 1, 2026	Oct 2, 2026
Steven Chapman CEO and President, Director	1,273	$413.31	n/a	n/a	Oct 1, 2026	Oct 2, 2026

Sep 23, 2026Jonathan Sheena sold 18K shares ($7.0M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jonathan Sheena Director	18,064	$388.01	n/a	n/a	Sep 23, 2026	Sep 25, 2026

Sep 16, 2026Jonathan Sheena sold 3.1K shares ($1.1M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Jonathan Sheena Director	3,150	$354.19	n/a	n/a	Sep 16, 2026	Sep 17, 2026

Sep 16, 2026Solomon Moshkevich gave away 945 shares as a gift.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Solomon Moshkevich President, Clinicaldiagnostics	945	n/a	n/a	n/a	Sep 16, 2026	Sep 18, 2026

Show all 7 events

Sep 15, 20262 insiders sold 58K shares ($20.2M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Matthew Rabinowitz Executive Chairman, Director	52,000	$347.29	n/a	n/a	Sep 15, 2026	Sep 16, 2026
Jonathan Sheena Director	6,000	$350.07	n/a	n/a	Sep 15, 2026	Sep 17, 2026

Sep 14, 2026Matthew Rabinowitz sold 50K shares ($16.7M) under a disclosed trading plan.

Who	Shares	Price	% of total stake	Total stake after	Trade date	Filed
Matthew Rabinowitz Executive Chairman, Director	50,000	$334.76	n/a	n/a	Sep 14, 2026	Sep 16, 2026

"% of total stake" is the shares in an event against all the vested shares the person held that day, across every share class and holding entity, after that day's vesting. "n/a" means the person's holdings are not confirmed, or the row is a purchase. "Holdings record incomplete" means more shares were sold than the filings show the person held that day, so a percentage would be wrong.

Outside holders, reported separately

James Healy and Roelof Botha reported no open-market sales in the past 12 months. Large shareholders and the funds or companies that board members represent are not part of management, so they are left out of the figures above.

Details

Common questions

Is the Natera, Inc. CEO selling stock?

Yes. Steven Chapman sold 415K shares ($90.7M) in the past 12 months, all of it under a trading plan disclosed in the filings.

Why are Natera, Inc. insiders selling?

Filings rarely give a reason, and we don't guess at one. What they show is how the sales were made: 87% of sales by value ran under 10b5-1 trading plans disclosed in the filings, 0.3% were to cover taxes and 13% had no disclosed plan. A trading plan schedules sales in advance.

Are any Natera, Inc. insiders buying?

No. Officers and directors reported no purchases in the past 12 months.

The evidence

Who sold12 officers and directors: amount, % of holdings, trading plan

Who sold	Amount	% of holdings	Trading plan
Matthew Rabinowitz Executive Chairman, Director	$124M 515K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Steven Chapman CEO and President, Director	$90.7M 415K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Roelof Botha Director	$34.9M 153K shares	Not confirmed share of stake is being verified. Why	No plan disclosed
Jonathan Sheena Director	$29.8M 111K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Solomon Moshkevich President, Clinicaldiagnostics	$23.6M 93K shares	Not confirmed share of stake is being verified. Why	95% under a disclosed plan, 5% to cover taxes
Daniel Rabinowitz Sec. and Chief Legal Officer	$23.6M 99K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Michael Brophy Chief Financial Officer	$21.7M 93K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Herm Rosenman Director	$15.1M 65K shares	Not confirmed share of stake is being verified. Why	27% under a disclosed plan 73% no plan disclosed
John Fesko President, Chief Bus. Officer	$9.3M 38K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Roy Baynes Director	$2.8M 13K shares	Not confirmed share of stake is being verified. Why	Disclosed plan
Gail Marcus Director	$2.4M 11K shares	Not confirmed share of stake is being verified. Why	1% under a disclosed plan 99% no plan disclosed
Rowan Chapman Director	$1.8M 7.6K shares	Not confirmed share of stake is being verified. Why	40% under a disclosed plan 60% no plan disclosed

Board members representing outside shareholders, reported separately: James Healy, Roelof Botha. Details

The full ownership picture0 of 17 officers and directors confirmed

Vested shares across all share classes, held directly and through trusts, LLCs and family members, as reported on SEC Forms 3, 4 and 5. Unvested awards and options are never counted as owned shares.

Insider

Held Oct 13, 2025

Sold

Held Oct 13, 2026

Still held

Matthew Rabinowitz

Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Matthew Rabinowitz are complete.

Executive Chairman, Director

n/a

−515K

n/a

Vesting, gifts, unvested awards and holding lines for Matthew Rabinowitz

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Matthew Rabinowitz are complete; balances and unit counts will be added when the check is finished.

−6Kgifted (net of own trusts)

−28Kwithheld by the company for taxes

Roelof Botha

Director

n/a

−153K

n/a

Vesting, gifts, unvested awards and holding lines for Roelof Botha

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Roelof Botha are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Steven Chapman

CEO and President, Director

n/a

−415K

n/a

Vesting, gifts, unvested awards and holding lines for Steven Chapman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Steven Chapman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Jonathan Sheena

Director

n/a

−111K

n/a

Vesting, gifts, unvested awards and holding lines for Jonathan Sheena

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Jonathan Sheena are complete; balances and unit counts will be added when the check is finished.

−1.1Kgifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
5,544	$9.29	Mar 8, 2028	$2.2M

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Daniel Rabinowitz

Sec. and Chief Legal Officer

n/a

−99K

n/a

Vesting, gifts, unvested awards and holding lines for Daniel Rabinowitz

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Daniel Rabinowitz are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

John Fesko

President, Chief Bus. Officer

n/a

−38K

n/a

Vesting, gifts, unvested awards and holding lines for John Fesko

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for John Fesko are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Some sales match sales reported by Michael Brophy exactly (date, shares and price). Possibly the same shares reported by both; the filings don't confirm it.

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
1,804	$9.29	Mar 8, 2028	$729K
1,725	$15.57	Mar 7, 2029	$686K
12,283	$19.68	Mar 21, 2029	$4.8M

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Solomon Moshkevich

President, Clinicaldiagnostics

n/a

−93K

n/a

Vesting, gifts, unvested awards and holding lines for Solomon Moshkevich

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Solomon Moshkevich are complete; balances and unit counts will be added when the check is finished.

−1.2Kgifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
42,500	$10.41	Jun 8, 2027	$17.1M
20,000	$9.29	Mar 8, 2028	$8.1M
5,932	$15.57	Mar 7, 2029	$2.4M
34,000	$19.68	Mar 21, 2029	$13.4M

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Michael Brophy

Chief Financial Officer

n/a

−93K

n/a

Vesting, gifts, unvested awards and holding lines for Michael Brophy

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Michael Brophy are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Some sales match sales reported by John Fesko exactly (date, shares and price). Possibly the same shares reported by both; the filings don't confirm it.

Herm Rosenman

Director

n/a

−65K

n/a

Vesting, gifts, unvested awards and holding lines for Herm Rosenman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Herm Rosenman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

James Healy

Director

n/a

Vesting, gifts, unvested awards and holding lines for James Healy

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Healy are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Roy Baynes

Director

n/a

−13K

n/a

Vesting, gifts, unvested awards and holding lines for Roy Baynes

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Roy Baynes are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Rowan Chapman

Director

n/a

−7.6K

n/a

Vesting, gifts, unvested awards and holding lines for Rowan Chapman

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Rowan Chapman are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
7,000	$32.15	Sep 26, 2029	$2.7M

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Gail Marcus

Director

n/a

−11K

n/a

Vesting, gifts, unvested awards and holding lines for Gail Marcus

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Gail Marcus are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
11,000	$22.83	May 23, 2029	$4.3M

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Brinkley Williams

Director

n/a

Vesting, gifts, unvested awards and holding lines for Brinkley Williams

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Brinkley Williams are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Stock options (not counted as shares):

Options held	Strike price	Expires	Intrinsic value (estimate)
515	$38.26	Oct 26, 2033	$193K

Estimate: options held × ($413.31 − strike price), using the most recent insider trade price on Form 4 (Oct 1, 2026), not a market close.

Monica Bertagnolli

Director

n/a

Vesting, gifts, unvested awards and holding lines for Monica Bertagnolli

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Monica Bertagnolli are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Eric Rubin

Director

n/a

Vesting, gifts, unvested awards and holding lines for Eric Rubin

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Eric Rubin are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Thomas Lynch Jr.

Director

n/a

Vesting, gifts, unvested awards and holding lines for Thomas Lynch Jr.

Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Thomas Lynch Jr. are complete; balances and unit counts will be added when the check is finished.

0gifted (net of own trusts)

Holdings and share of stake for Natera, Inc. are being verified, so no balances, unit counts or percentages are shown. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings.

What explains the selling$380M of sales by plan status, purpose, seller and month

Officer and director open-market sales: $380M across 1,614,341 shares. Plan status and stated purpose are separate questions, and a sale can have both.

By plan status

Disclosed plan · $330M · 87%

13%

The lighter segment is sales with no plan disclosed in the filing ($50.4M), including tax-related sales outside a plan.

No plan disclosed · $49.4M

Sales with no 10b5-1 plan and no tax reference in the filing. $34.9M of it is Roelof Botha. No plan disclosed is a statement about the filing, not about why the sale happened. Largest such sale: Roelof Botha, Jun 1, 2026

Taxes

$68.8M of sales (18.1%) cite tax obligations in their footnotes, $67.7M of them also under a plan. Separately, 27,610 shares ($5.7M) were withheld by the company for taxes, which isn't a market sale. Example: Solomon Moshkevich, Sep 2, 2026

Charitable gifts · 8.3K shares

Gifts the filings describe as charitable. Gifts are not sales and are not included in the sale totals.

Seller	Shares sold	Proceeds	Under a disclosed plan	Share of total	Sales dates
Matthew Rabinowitz Executive Chairman, Director	515K	$124M	100%	33%	Oct 20, 2025 to Sep 15, 2026
Steven Chapman CEO and President, Director	415K	$90.7M	100%	24%	Oct 21, 2025 to Oct 1, 2026
Roelof Botha Director	153K	$34.9M	0%	9%	Nov 24, 2025 to Jun 1, 2026
Jonathan Sheena Director	111K	$29.8M	100%	8%	Oct 15, 2025 to Sep 23, 2026
Solomon Moshkevich President, Clinicaldiagnostics	93K	$23.6M	95%	6%	Oct 21, 2025 to Oct 1, 2026
Daniel Rabinowitz Sec. and Chief Legal Officer	99K	$23.6M	100%	6%	Oct 21, 2025 to Aug 3, 2026
Michael Brophy Chief Financial Officer	93K	$21.7M	100%	6%	Oct 21, 2025 to Aug 4, 2026
Herm Rosenman Director	65K	$15.1M	27%	4%	Dec 12, 2025 to Jun 24, 2026
John Fesko President, Chief Bus. Officer	38K	$9.3M	100%	2%	Oct 21, 2025 to Aug 10, 2026
Roy Baynes Director	13K	$2.8M	100%	0.7%	Nov 19, 2025 to Nov 20, 2025
Gail Marcus Director	11K	$2.4M	1%	0.6%	Nov 3, 2025 to Jun 5, 2026
Rowan Chapman Director	7.6K	$1.8M	40%	0.5%	Dec 5, 2025 to Jul 15, 2026

Sales by month

Month	Sale proceeds	Disclosed plan	To cover taxes	No plan disclosed
Oct 2025	$7.1M	$7.1M	$0	$0
Nov 2025	$66.2M	$48.4M	$0	$17.7M
Dec 2025	$16.0M	$2.8M	$1.1M	$12.1M
Jan 2026	$53.8M	$53.8M	$0	$0
Feb 2026	$24.7M	$24.7M	$0	$0
Mar 2026	$44.9M	$44.9M	$0	$0
Apr 2026	$6.7M	$6.7M	$0	$0
May 2026	$4.4M	$4.4M	$0	$0
Jun 2026	$65.0M	$45.4M	$0	$19.6M
Jul 2026	$11.8M	$11.8M	$0	$0
Aug 2026	$9.9M	$9.9M	$0	$0
Sep 2026	$67.9M	$67.9M	$0	$0
Oct 2026	$1.8M	$1.8M	$0	$0

Board members representing outside shareholders (2)Listed and sourced; not part of the management totals or the answer line

Directors whose reported holdings sit mostly in an investment fund or a corporate shareholder they represent, not in their own name, with beneficial ownership disclaimed except for their own financial interest. Listed and sourced here; not part of the management totals or the answer line. Shares a fund hands to its own investors are distributions, not sales.

Board member	Held Oct 13, 2025	Sold	Held Oct 13, 2026	Still held
James Healy ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for James Healy are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for James Healy Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for James Healy are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)
Roelof Botha ! Holdings and share of stake are being verified. Share-of-stake figures and holdings for this company are held back while they are verified. Sales and other transactions for Roelof Botha are complete. Director	n/a	0	n/a	n/a
Vesting, gifts, unvested awards and holding lines for Roelof Botha Holdings and share of stake are being verified. Sales, proceeds, plan and tax status and dates for Roelof Botha are complete; balances and unit counts will be added when the check is finished. 0gifted (net of own trusts)

Is this normal? Selling year by year5 earlier years to compare with

More than usual: about 1.9x the 5-year average. 12 insiders sold; the average is 9 a year.

12 months ending	Shares sold	Insiders who sold	Proceeds
Oct 13, 2026 Latest 12 months	1.61M	12	$380M
Oct 13, 2025 1 year earlier	1.19M	11	$189M
Oct 13, 2024 2 years earlier	991K	10	$86.7M
Oct 14, 2023 3 years earlier	348K	8	$16.5M
Oct 14, 2022 4 years earlier	227K	6	$20.2M
Oct 14, 2021 5 years earlier	1.41M	10	$137M

Open-market sales (Form 4 code S) by people who were officers or directors, in split-adjusted shares. Earlier years include people who have since left. A sale that an outside holder also reports (a family trust, a fund) is counted with outside holders in every year. Shares, not dollars, are compared, so a change in the stock price doesn't look like a change in selling. Years the filings don't fully cover are shown but left out of the average.

Known gaps and uncertainty17 officers and directors not confirmed

Holdings and share of stake are being verified. Balances, unit counts and every share-of-stake figure for Natera, Inc. are held back until that check is finished. Sales, proceeds, plan and tax status, titles and dates come straight from individual filings and are complete.

External context: we only cite outside events when a documented connection exists. None is shown for this period.

Sources and methodology1,254 filings on record, 176 filed in the 12-month period, and how we read them

All 1,254 Forms 3, 4 and 5 on record for Natera, Inc. (SEC CIK 1604821), filed from Jul 1, 2015 to Oct 9, 2026; 176 of them were filed in the 12 months this page covers, retrieved from SEC EDGAR on Oct 13, 2026. Prices are the ones reported in each filing, often weighted averages.

Holdings. Each holding line (a share class plus an owner, such as a trust or LLC) carries its last reported balance forward. Entities first reported during the period start at zero, so transfers between an insider's own trusts don't count as selling. Lines not reported for three years or more are listed separately and left out of totals.

Sales. A sale counts as under a 10b5-1 plan if its footnote cites one or the filing's Rule 10b5-1 box is checked, and as tax-related if its footnote cites tax obligations or sell-to-cover. Shares withheld by the company for taxes are listed separately. Sales with neither attribute are labeled "no plan disclosed".

Full methodology

Former or inactive filers (7)No filing in 18 months; last reported balances, not in any total

Name	Last filed	Last reported balance
Robert Schueren	Jan 31, 2023	138,232 shares, last reported balance as of Jan 27, 2023
Todd Cozzens	May 27, 2022	15,813 shares, last reported balance as of May 25, 2022
Edward Driscoll Jr.	Nov 27, 2019	52,009 shares, last reported balance as of May 16, 2019
John Steuart	Nov 27, 2019	64,689 shares, last reported balance as of May 16, 2019
SC XII MANAGEMENT LLC	Aug 13, 2019	5,421,122 shares, last reported balance as of Aug 13, 2019
CLAREMONT CREEK VENTURES L P	Aug 17, 2018	5,864,630 shares, last reported balance as of Aug 15, 2018
LIGHTSPEED VENTURE PARTNERS VIII LP	Jul 9, 2015	3,973,594 shares, last reported balance as of Jul 8, 2015

Spotted something wrong on this page? Report an error. We check every report against the SEC filing and list what we fix in the corrections log.

Natera, Inc. insiders sold $380M in the past 12 months. How much of their stake is that?

What stands out

Who sold, and how much of their stake

Selling by month

Recent activity

Outside holders, reported separately

Common questions

Is the Natera, Inc. CEO selling stock?

Why are Natera, Inc. insiders selling?

Are any Natera, Inc. insiders buying?

The evidence

No plan disclosed · $49.4M

Taxes

Charitable gifts · 8.3K shares

Sales by month