Kenneth Duda - Jan 10, 2024 Form 4 Insider Report for Arista Networks, Inc. (ANET)

Signature
By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda
Stock symbol
ANET
Transactions as of
Jan 10, 2024
Transactions value $
-$9,493,573
Form type
4
Date filed
1/12/2024, 08:00 PM
Previous filing
Dec 14, 2023
Next filing
Feb 13, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction ANET Common Stock Options Exercise $342K +20K +616.52% $17.09* 23.2K Jan 10, 2024 Direct F1
transaction ANET Common Stock Sale -$453K -1.83K -7.89% $246.91 21.4K Jan 10, 2024 Direct F1, F2
transaction ANET Common Stock Sale -$1.31M -5.27K -24.62% $248.05 16.1K Jan 10, 2024 Direct F1, F3
transaction ANET Common Stock Sale -$1.44M -5.8K -35.94% $249.00 10.3K Jan 10, 2024 Direct F1, F4
transaction ANET Common Stock Sale -$1.22M -4.87K -47.12% $249.98 5.47K Jan 10, 2024 Direct F1, F5
transaction ANET Common Stock Sale -$558K -2.22K -40.67% $250.81 3.24K Jan 10, 2024 Direct F1, F6
transaction ANET Common Stock Sale -$362K -1.47K -0.48% $246.91 306K Jan 10, 2024 By Childrens' Trust F2, F7, F8
transaction ANET Common Stock Sale -$1.05M -4.22K -1.38% $248.05 302K Jan 10, 2024 By Childrens' Trust F3, F7, F8
transaction ANET Common Stock Sale -$1.16M -4.64K -1.54% $249.00 297K Jan 10, 2024 By Childrens' Trust F4, F7, F8
transaction ANET Common Stock Sale -$974K -3.9K -1.31% $249.98 293K Jan 10, 2024 By Childrens' Trust F5, F7, F8
transaction ANET Common Stock Sale -$446K -1.78K -0.61% $250.81 291K Jan 10, 2024 By Childrens' Trust F6, F7, F8
transaction ANET Common Stock Sale -$43.1K -175 -0.09% $246.17 205K Jan 10, 2024 By Foundation F9, F10, F11
transaction ANET Common Stock Sale -$196K -792 -0.39% $247.78 205K Jan 10, 2024 By Foundation F9, F11, F12
transaction ANET Common Stock Sale -$228K -919 -0.45% $248.59 204K Jan 10, 2024 By Foundation F9, F11, F13
transaction ANET Common Stock Sale -$194K -779 -0.38% $249.54 203K Jan 10, 2024 By Foundation F9, F11, F14
transaction ANET Common Stock Sale -$209K -835 -0.41% $250.55 202K Jan 10, 2024 By Foundation F9, F11, F15
holding ANET Common Stock 199K Jan 10, 2024 By GRAT JD F16
holding ANET Common Stock 199K Jan 10, 2024 By GRAT KD F17
holding ANET Common Stock 218K Jan 10, 2024 by Trust F18

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 -20K -10% $0.00 180K Jan 10, 2024 Common Stock 20K $17.09 Direct F1, F19
* 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 $246.45 to $247.41, 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.
F3 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $247.46 to $248.45, 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 $248.48 to $249.47, 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $249.48 to $250.47, 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.
F6 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $250.55 to $251.10, 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.
F7 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.
F8 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.
F9 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.
F10 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $246.07 to $246.65, 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.
F11 These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.
F12 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $247.16 to $248.15, 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.
F13 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $248.18 to $249.10, 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.
F14 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $249.205 to $249.905, 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.
F15 The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $250.25 to $250.915, 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.
F16 Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.
F17 Reporting person is the trustee of the Kenneth Duda Annuity Trusts.
F18 These shares are held by a family trust for which the reporting person is co-trustee.
F19 1/5th of the shares subject to the option shall vested one year after December 1, 2016 and 1/60th of the shares subject to the option vested each month thereafter provided that the reporting person continues to be a service provider to the Issuer as of each vest date.