Kenneth Duda - 12 Jun 2023 Form 4 Insider Report for Arista Networks, Inc. (ANET)

Reporting relationship: CTO and SVP Software Eng.
Issuer ticker: ANET
Reported as of: 12 Jun 2023
Net transaction value: -$6,425,862
SEC form: 4
Accepted by SEC: 14 Jun 2023, 19:03:41 UTC
Prior SEC filing: 12 Jun 2023
Next SEC filing: 15 Jun 2023
Source filing: View source filing
Reporting owner signature: By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda

Filing notes and source

Key filing fact

Kenneth Duda filed Form 4 for Arista Networks, Inc. (ANET) on 14 Jun 2023.

Key facts

This page summarizes Kenneth Duda's Form 4 filing for Arista Networks, Inc. (ANET).
25 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 14 Jun 2023, 19:03.

Change

Previous filing in this sequence was filed on 12 Jun 2023.
Current net transaction value: -$6,425,862.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

ANET transaction

Common Stock

Options Exercise

Transaction value: $153,350
Shares: +20,000
Change %: +617%
Price: $7.67^*
Shares after: 23,244
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1

ANET transaction

Common Stock

Sale

Transaction value: $522,434
Shares: -3,193
Change %: -14%
Price: $163.62
Shares after: 20,051
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F2

ANET transaction

Common Stock

Sale

Transaction value: $724,423
Shares: -4,397
Change %: -22%
Price: $164.75
Shares after: 15,654
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F3

ANET transaction

Common Stock

Sale

Transaction value: $229,292
Shares: -1,384
Change %: -8.8%
Price: $165.67
Shares after: 14,270
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F4

ANET transaction

Common Stock

Sale

Transaction value: $283,805
Shares: -1,703
Change %: -12%
Price: $166.65
Shares after: 12,567
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F5

ANET transaction

Common Stock

Sale

Transaction value: $667,707
Shares: -3,977
Change %: -32%
Price: $167.89
Shares after: 8,590
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F6

ANET transaction

Common Stock

Sale

Transaction value: $588,663
Shares: -3,487
Change %: -41%
Price: $168.82
Shares after: 5,103
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F7

ANET transaction

Common Stock

Sale

Transaction value: $314,921
Shares: -1,859
Change %: -36%
Price: $169.40
Shares after: 3,244
Date: 12 Jun 2023
Ownership: Direct
Footnotes: F1, F8

ANET transaction

Common Stock

Sale

Transaction value: $417,882
Shares: -2,554
Change %: -0.93%
Price: $163.62
Shares after: 270,754
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F2, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $579,440
Shares: -3,517
Change %: -1.3%
Price: $164.75
Shares after: 267,237
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F3, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $183,566
Shares: -1,108
Change %: -0.41%
Price: $165.67
Shares after: 266,129
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F4, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $226,977
Shares: -1,362
Change %: -0.51%
Price: $166.65
Shares after: 264,767
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F5, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $534,233
Shares: -3,182
Change %: -1.2%
Price: $167.89
Shares after: 261,585
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F6, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $470,998
Shares: -2,790
Change %: -1.1%
Price: $168.82
Shares after: 258,795
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F7, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $251,903
Shares: -1,487
Change %: -0.57%
Price: $169.40
Shares after: 257,308
Date: 12 Jun 2023
Ownership: By Childrens' Trust
Footnotes: F8, F9, F10

ANET transaction

Common Stock

Sale

Transaction value: $81,950
Shares: -501
Change %: -0.22%
Price: $163.57
Shares after: 229,599
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F12, F13

ANET transaction

Common Stock

Sale

Transaction value: $148,270
Shares: -900
Change %: -0.39%
Price: $164.74
Shares after: 228,699
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F13, F14

ANET transaction

Common Stock

Sale

Transaction value: $66,543
Shares: -400
Change %: -0.17%
Price: $166.36
Shares after: 228,299
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F13, F15

ANET transaction

Common Stock

Sale

Transaction value: $134,224
Shares: -800
Change %: -0.35%
Price: $167.78
Shares after: 227,499
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F13, F16

ANET transaction

Common Stock

Sale

Transaction value: $134,864
Shares: -798
Change %: -0.35%
Price: $169.00
Shares after: 226,701
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F13, F17

ANET transaction

Common Stock

Sale

Transaction value: $17,118
Shares: -101
Change %: -0.04%
Price: $169.48
Shares after: 226,600
Date: 12 Jun 2023
Ownership: By Foundation
Footnotes: F11, F13, F18

ANET transaction

Common Stock

Gift

Transaction value: $0
Shares: -23,392
Change %: -6.8%
Price: $0.000000
Shares after: 318,446
Date: 12 Jun 2023
Ownership: By GRAT JD
Footnotes: F19, F20

ANET transaction

Common Stock

Gift

Transaction value: $0
Shares: -23,392
Change %: -6.8%
Price: $0.000000
Shares after: 318,446
Date: 12 Jun 2023
Ownership: By GRAT KD
Footnotes: F21, F22

ANET transaction

Common Stock

Gift

Transaction value: $0
Shares: +46,784
Change %: +60%
Price: $0.000000
Shares after: 124,357
Date: 12 Jun 2023
Ownership: by Trust
Footnotes: F23, F24

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

ANET transaction Derivative

Non-Qualified Stock Option (right to buy)

Options Exercise

Transaction value: $0
Shares: -20,000
Change %: -14%
Price: $0.000000
Shares after: 120,000
Date: 12 Jun 2023
Ownership: Direct
Underlying class: Common Stock
Underlying amount: 20,000
Exercise price: $7.67
Footnotes: F1, F25

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Rule 10b5-1 trading plan

These transactions were reported as open-market trades under a Rule 10b5-1 plan. The plan lets an insider set trading instructions in advance, which can reduce the risk of trading while in possession of material nonpublic information.

Original filing language: transaction made pursuant to a contract, instruction, or written plan intended to satisfy Rule 10b5-1(c).

Explanation of responses 25 footnotes

Footnote F1

The exercise and/or sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on February 24, 2023.

Footnote F2

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.15 to $164.12, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F3

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.16 to $165.15, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F4

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $165.16 to $166.14, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F5

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $166.24 to $167.20, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F6

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $167.27 to $168.25, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F7

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $168.27 to $169.25, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F8

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.27 to $169.59, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F9

The sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person for the benefit of the reporting person's children on February 24, 2023.

Footnote F10

These shares are held in multiple trusts for the benefit of the children of the reporting person for which the reporting person serves as trustee. The reporting person shares voting and investment control over the shares but disclaims beneficial ownership of the shares.

Footnote F11

The sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into on December 12, 2022 by the reporting person's 501(c) Foundation, for which the reporting person and his spouse serve as co-trustee.

Footnote F12

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $163.20 to $163.95, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F13

These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.

Footnote F14

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $164.36 to $165.18, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F15

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $165.81 to $166.61, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F16

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $167.29 to $168.16, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F17

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $168.47 to $169.30, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F18

The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $169.48 to $169.50, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Footnote F19

Represents 23,392 shares contributed from the GRAT of the Reporting Persons spouse to the family Trust.

Footnote F20

Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.

Footnote F21

Represents 23,392 shares contributed from the GRAT of the Reporting Person to the family Trust.

Footnote F22

Reporting person is the trustee of the Kenneth Duda Annuity Trusts.

Footnote F23

Represents an aggregate of 46,784 shares transferred by GRAT of the Reporting Person (23,392 shares), and GRAT of the Reporting Person's spouse (23,392 shares) to the family Trust.

Footnote F24

These shares are held by a family trust for which the reporting person is co-trustee.

Footnote F25

1/5th of the shares subject to the option vested and become exercisable on December 1, 2018 and 1/60th of the shares subject to the option shall vest monthly thereafter.