diff --git a/com.unity.netcode.gameobjects/CHANGELOG.md b/com.unity.netcode.gameobjects/CHANGELOG.md
index 190981fad4..19c0add8e9 100644
--- a/com.unity.netcode.gameobjects/CHANGELOG.md
+++ b/com.unity.netcode.gameobjects/CHANGELOG.md
@@ -14,7 +14,7 @@ Additional documentation and release notes are available at [Multiplayer Documen
 - `NetworkTransport.EarlyUpdate` and `NetworkTransport.PostLateUpdate` are now public. For the vast majority of users, there's really no point in ever calling those methods directly (the `NetworkManager` handles it). It's only useful if wrapping transports outside of NGO. (#3890)
 
 ### Changed
-
+- Improve performance of `NetworkTransform`. (#3907)
 
 ### Deprecated
 
diff --git a/com.unity.netcode.gameobjects/Runtime/Components/NetworkTransform.cs b/com.unity.netcode.gameobjects/Runtime/Components/NetworkTransform.cs
index 64e9bc0b95..c2c2c6f8a3 100644
--- a/com.unity.netcode.gameobjects/Runtime/Components/NetworkTransform.cs
+++ b/com.unity.netcode.gameobjects/Runtime/Components/NetworkTransform.cs
@@ -1621,7 +1621,7 @@ internal bool SynchronizeScale
         public bool CanCommitToTransform { get; protected set; }
 
         /// <summary>
-        /// Internally used by <see cref="NetworkTransform"/> to keep track of the <see cref="NetworkManager"/> instance assigned to this
+        /// Internally used by <see cref="NetworkTransform"/> to keep track of the <see cref="NetworkManager"/> instance assigned to
         /// this <see cref="NetworkBehaviour"/> derived class instance.
         /// </summary>
         protected NetworkManager m_CachedNetworkManager;
@@ -1852,6 +1852,7 @@ private bool ShouldSynchronizeHalfFloat(ulong targetClientId)
             if (!IsServerAuthoritative() && NetworkObject.OwnerClientId == targetClientId)
             {
                 // In distributed authority mode we want to synchronize the half float if we are the owner.
+                // TODO do we have a cached NetworkManager here? Should we create one?
                 return (!NetworkManager.DistributedAuthorityMode && NetworkObject.IsOwnedByServer) || (NetworkManager.DistributedAuthorityMode);
             }
             return true;
@@ -3537,7 +3538,7 @@ private void ApplyPlayerTransformState()
 
         /// <summary>
         /// For dynamically spawned NetworkObjects, when the non-authority instance's client is already connected and
-        /// the SynchronizeState is still pending synchronization then we want to finalize the synchornization at this time.
+        /// the SynchronizeState is still pending synchronization then we want to finalize the synchronization at this time.
         /// </summary>
         protected internal override void InternalOnNetworkPostSpawn()
         {
@@ -3550,7 +3551,7 @@ protected internal override void InternalOnNetworkPostSpawn()
             // Then we want to:
             // - Force the "IsSynchronizing" flag so the NetworkTransform has its state updated properly and runs through the initialization again.
             // - Make sure the SynchronizingState is updated to the instantiated prefab's default flags/settings.
-            if (NetworkManager.IsServer && !NetworkManager.DistributedAuthorityMode && !IsOwner && !OnIsServerAuthoritative() && !SynchronizeState.IsSynchronizing)
+            if (m_CachedNetworkManager.IsServer && !m_CachedNetworkManager.DistributedAuthorityMode && !IsOwner && !OnIsServerAuthoritative() && !SynchronizeState.IsSynchronizing)
             {
                 // Handle the first/root NetworkTransform slightly differently to have a sequenced synchronization of like authority nested NetworkTransform components
                 if (m_IsFirstNetworkTransform)
@@ -3578,7 +3579,7 @@ protected internal override void InternalOnNetworkPostSpawn()
             }
 
             // Standard non-authority synchronization is handled here
-            if (!CanCommitToTransform && NetworkManager.IsConnectedClient && SynchronizeState.IsSynchronizing)
+            if (!CanCommitToTransform && m_CachedNetworkManager.IsConnectedClient && SynchronizeState.IsSynchronizing)
             {
                 NonAuthorityFinalizeSynchronization();
             }
@@ -3631,7 +3632,6 @@ internal override void InternalOnNetworkPreSpawn(ref NetworkManager networkManag
         public override void OnNetworkSpawn()
         {
             m_ParentedChildren.Clear();
-            m_CachedNetworkManager = NetworkManager;
 
             Initialize();
 
@@ -3639,6 +3639,7 @@ public override void OnNetworkSpawn()
             {
                 SetState(GetSpaceRelativePosition(), GetSpaceRelativeRotation(), GetScale(), false);
             }
+            base.OnNetworkSpawn();
         }
 
         private void CleanUpOnDestroyOrDespawn()
@@ -3651,7 +3652,7 @@ private void CleanUpOnDestroyOrDespawn()
 #endif
             if (m_CachedNetworkObject != null)
             {
-                NetworkManager?.NetworkTransformRegistration(m_CachedNetworkObject, forUpdate, false);
+                m_CachedNetworkManager.NetworkTransformRegistration(m_CachedNetworkObject, forUpdate, false);
             }
 
             DeregisterForTickUpdate(this);
@@ -3697,7 +3698,7 @@ protected virtual void OnInitialize(ref NetworkVariable<NetworkTransformState> r
         /// </summary>
         private void ResetInterpolatedStateToCurrentAuthoritativeState()
         {
-            var serverTime = NetworkManager.ServerTime.Time;
+            var serverTime = m_CachedNetworkManager.ServerTime.Time;
 #if COM_UNITY_MODULES_PHYSICS || COM_UNITY_MODULES_PHYSICS2D
             var position = m_UseRigidbodyForMotion ? m_NetworkRigidbodyInternal.GetPosition() : GetSpaceRelativePosition();
             var rotation = m_UseRigidbodyForMotion ? m_NetworkRigidbodyInternal.GetRotation() : GetSpaceRelativeRotation();
@@ -3719,7 +3720,7 @@ private void ResetInterpolatedStateToCurrentAuthoritativeState()
         }
         private NetworkObject m_CachedNetworkObject;
         /// <summary>
-        /// The internal initialzation method to allow for internal API adjustments
+        /// The internal initialization method to allow for internal API adjustments
         /// </summary>
         /// <param name="isOwnershipChange"></param>
         private void InternalInitialization(bool isOwnershipChange = false)
@@ -3731,7 +3732,7 @@ private void InternalInitialization(bool isOwnershipChange = false)
             m_CachedNetworkObject = NetworkObject;
 
             // Determine if this is the first NetworkTransform in the associated NetworkObject's list
-            m_IsFirstNetworkTransform = NetworkObject.NetworkTransforms[0] == this;
+            m_IsFirstNetworkTransform = m_CachedNetworkObject.NetworkTransforms[0] == this;
 
             if (m_CachedNetworkManager && m_CachedNetworkManager.DistributedAuthorityMode)
             {
@@ -3755,9 +3756,9 @@ private void InternalInitialization(bool isOwnershipChange = false)
             var currentPosition = GetSpaceRelativePosition();
             var currentRotation = GetSpaceRelativeRotation();
 
-            if (NetworkManager.DistributedAuthorityMode)
+            if (m_CachedNetworkManager.DistributedAuthorityMode)
             {
-                RegisterNetworkManagerForTickUpdate(NetworkManager);
+                RegisterNetworkManagerForTickUpdate(m_CachedNetworkManager);
             }
 
 #if COM_UNITY_MODULES_PHYSICS || COM_UNITY_MODULES_PHYSICS2D
@@ -3941,7 +3942,7 @@ internal override void InternalOnNetworkObjectParentChanged(NetworkObject parent
                 if (LastTickSync == m_LocalAuthoritativeNetworkState.GetNetworkTick())
                 {
                     m_InternalCurrentPosition = m_LastStateTargetPosition = GetSpaceRelativePosition();
-                    m_PositionInterpolator.ResetTo(m_PositionInterpolator.Parent, m_InternalCurrentPosition, NetworkManager.ServerTime.Time);
+                    m_PositionInterpolator.ResetTo(m_PositionInterpolator.Parent, m_InternalCurrentPosition, m_CachedNetworkManager.ServerTime.Time);
                     if (InLocalSpace)
                     {
                         transform.localPosition = m_InternalCurrentPosition;
@@ -3973,7 +3974,7 @@ internal override void InternalOnNetworkObjectParentChanged(NetworkObject parent
                 {
                     m_InternalCurrentRotation = GetSpaceRelativeRotation();
                     m_TargetRotation = m_InternalCurrentRotation.eulerAngles;
-                    m_RotationInterpolator.ResetTo(m_RotationInterpolator.Parent, m_InternalCurrentRotation, NetworkManager.ServerTime.Time);
+                    m_RotationInterpolator.ResetTo(m_RotationInterpolator.Parent, m_InternalCurrentRotation, m_CachedNetworkManager.ServerTime.Time);
                     if (InLocalSpace)
                     {
                         transform.localRotation = m_InternalCurrentRotation;
@@ -4596,7 +4597,7 @@ internal void TransformStateUpdate()
             {
                 // TODO: Investigate where this state should be applied or just discarded.
                 // For now, discard the state if we assumed ownership.
-                // Debug.Log($"[Client-{NetworkManager.LocalClientId}] Ignoring inbound update from Client-{0} and parentUpdated:{isParentingDirective}!");
+                // Debug.Log($"[Client-{m_CachedNetworkManager.LocalClientId}] Ignoring inbound update from Client-{0} and parentUpdated:{isParentingDirective}!");
                 return;
             }
             // Store the previous/old state
@@ -4653,17 +4654,17 @@ private void UpdateTransformState()
                     {
                         continue;
                     }
-                    if (!NetworkObject.Observers.Contains(clientId))
+                    if (!m_CachedNetworkObject.Observers.Contains(clientId))
                     {
                         continue;
                     }
-                    NetworkManager.MessageManager.SendMessage(ref m_OutboundMessage, networkDelivery, clientId);
+                    m_CachedNetworkManager.MessageManager.SendMessage(ref m_OutboundMessage, networkDelivery, clientId);
                 }
             }
             else
             {
                 // Clients (owner authoritative) send messages to the server-host
-                NetworkManager.MessageManager.SendMessage(ref m_OutboundMessage, networkDelivery, NetworkManager.ServerClientId);
+                m_CachedNetworkManager.MessageManager.SendMessage(ref m_OutboundMessage, networkDelivery, NetworkManager.ServerClientId);
             }
             m_LocalAuthoritativeNetworkState.LastSerializedSize = m_OutboundMessage.BytesWritten;
         }
@@ -4802,7 +4803,7 @@ public NetworkTransformTickRegistration(NetworkManager networkManager)
         internal void RegisterForTickSynchronization()
         {
             s_TickSynchPosition++;
-            m_NextTickSync = NetworkManager.ServerTime.Tick + (s_TickSynchPosition % (int)NetworkManager.NetworkConfig.TickRate);
+            m_NextTickSync = m_CachedNetworkManager.ServerTime.Tick + (s_TickSynchPosition % (int)NetworkManager.NetworkConfig.TickRate);
         }
 
         private static void RegisterNetworkManagerForTickUpdate(NetworkManager networkManager)
@@ -4821,14 +4822,14 @@ private static void RegisterNetworkManagerForTickUpdate(NetworkManager networkMa
         /// <param name="networkTransform"></param>
         private static void RegisterForTickUpdate(NetworkTransform networkTransform)
         {
-
-            if (!networkTransform.NetworkManager.DistributedAuthorityMode && !s_NetworkTickRegistration.ContainsKey(networkTransform.NetworkManager))
+            var networkManager = networkTransform.NetworkManager;
+            if (!networkManager.DistributedAuthorityMode && !s_NetworkTickRegistration.ContainsKey(networkManager))
             {
-                s_NetworkTickRegistration.Add(networkTransform.NetworkManager, new NetworkTransformTickRegistration(networkTransform.NetworkManager));
+                s_NetworkTickRegistration.Add(networkManager, new NetworkTransformTickRegistration(networkManager));
             }
 
             networkTransform.RegisterForTickSynchronization();
-            s_NetworkTickRegistration[networkTransform.NetworkManager].NetworkTransforms.Add(networkTransform);
+            s_NetworkTickRegistration[networkManager].NetworkTransforms.Add(networkTransform);
         }
 
         /// <summary>
@@ -4838,16 +4839,17 @@ private static void RegisterForTickUpdate(NetworkTransform networkTransform)
         /// <param name="networkTransform"></param>
         private static void DeregisterForTickUpdate(NetworkTransform networkTransform)
         {
-            if (networkTransform.NetworkManager == null)
+            var networkManager = networkTransform.NetworkManager;
+            if (!networkManager)
             {
                 return;
             }
-            if (s_NetworkTickRegistration.ContainsKey(networkTransform.NetworkManager))
+            if (s_NetworkTickRegistration.ContainsKey(networkManager))
             {
-                s_NetworkTickRegistration[networkTransform.NetworkManager].NetworkTransforms.Remove(networkTransform);
-                if (!networkTransform.NetworkManager.DistributedAuthorityMode && s_NetworkTickRegistration[networkTransform.NetworkManager].NetworkTransforms.Count == 0)
+                s_NetworkTickRegistration[networkManager].NetworkTransforms.Remove(networkTransform);
+                if (!networkManager.DistributedAuthorityMode && s_NetworkTickRegistration[networkManager].NetworkTransforms.Count == 0)
                 {
-                    var registrationEntry = s_NetworkTickRegistration[networkTransform.NetworkManager];
+                    var registrationEntry = s_NetworkTickRegistration[networkManager];
                     registrationEntry.Remove();
                 }
             }