Ita M. Brennan - 31 Oct 2023 Form 4 Insider Report for Arista Networks, Inc. (ANET)

Role
Senior Vice President, CFO
Signature
By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Ita Brennan
Issuer symbol
ANET
Transactions as of
31 Oct 2023
Net transactions value
-$1,389,446
Form type
4
Filing time
02 Nov 2023, 19:01:45 UTC
Previous filing
11 Sep 2023
Next filing
22 Nov 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 $305,250 +5,000 +20% $61.05 30,053 31 Oct 2023 Direct F1
transaction ANET Common Stock Options Exercise $305,538 +5,000 +17% $61.11 35,053 31 Oct 2023 Direct F1
transaction ANET Common Stock Sale $2,000,233 -10,000 -29% $200.02 25,053 31 Oct 2023 Direct F1, F2

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 -5,000 -35% $0.000000 9,367 31 Oct 2023 Common Stock 5,000 $61.05 Direct F1, F3
transaction ANET Non-Qualified Stock Option (right to buy) Options Exercise $0 -5,000 -50% $0.000000 5,000 31 Oct 2023 Common Stock 5,000 $61.11 Direct F1, F4
* 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 June 8, 2023.
F2 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $200.00 to $200.20, 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.
F3 1/48th of the shares subject to the option shall vest and become exercisable on June 1, 2020 and 1/48th of the shares subject to the option shall continue to vest each month thereafter.
F4 1/48th of the shares subject to the option shall vest and become exercisable on December 1, 2020 and 1/48th of the shares subject to the option shall continue to vest each month thereafter.