Kenneth Duda - 11 Jul 2023 Form 4 Insider Report for Arista Networks, Inc. (ANET)

Role
CTO and SVP Software Eng.
Signature
By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda
Issuer symbol
ANET
Transactions as of
11 Jul 2023
Net transactions value
-$5,588,855
Form type
4
Filing time
13 Jul 2023, 19:06:37 UTC
Previous filing
12 Jul 2023
Next filing
14 Aug 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ANET Common Stock Options Exercise $153,350 +20,000 +617% $7.67* 23,244 11 Jul 2023 Direct F1
transaction ANET Common Stock Sale $1,899,000 -11,928 -51% $159.21 11,316 11 Jul 2023 Direct F1, F2
transaction ANET Common Stock Sale $1,165,901 -7,294 -64% $159.84 4,022 11 Jul 2023 Direct F1, F3
transaction ANET Common Stock Sale $125,213 -778 -19% $160.94 3,244 11 Jul 2023 Direct F1, F4
transaction ANET Common Stock Sale $1,519,136 -9,542 -3.7% $159.21 247,766 11 Jul 2023 By Childrens' Trust F2, F5, F6
transaction ANET Common Stock Sale $932,849 -5,836 -2.4% $159.84 241,930 11 Jul 2023 By Childrens' Trust F3, F5, F6
transaction ANET Common Stock Sale $100,106 -622 -0.26% $160.94 241,308 11 Jul 2023 By Childrens' Trust F4, F5, F6
holding ANET Common Stock 223,100 11 Jul 2023 By Foundation F7
holding ANET Common Stock 318,446 11 Jul 2023 By GRAT JD F8
holding ANET Common Stock 318,446 11 Jul 2023 By GRAT KD F9
holding ANET Common Stock 115,747 11 Jul 2023 by Trust F10

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction ANET Non-Qualified Stock Option (right to buy) Options Exercise $0 -20,000 -17% $0.000000 100,000 11 Jul 2023 Common Stock 20,000 $7.67 Direct F1, F11
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

Explanation of Responses:

Id Content
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.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $158.62 to $159.61, 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.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $159.62 to $160.46, 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.
F4 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $160.63 to $161.41, 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.
F5 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.
F6 These shares are held in a trust for the benefit of a Child of the reporting person for which the reporting person serves as co-trustee. The reporting person shares voting and investment control over the shares but disclaims beneficial ownership of the shares.
F7 These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.
F8 Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.
F9 Reporting person is the trustee of the Kenneth Duda Annuity Trusts.
F10 These shares are held by a family trust for which the reporting person is co-trustee.
F11 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.