Arista Networks Insider Filing: Minor CEO Share Sale via 10b5-1 Plan

Rhea-AI Filing Summary

Form 144 filing for Arista Networks, Inc. (ANET) discloses that President & Director Jayshree Ullal intends to sell 8,724 common shares through J.P. Morgan Securities LLC on or about 26-27 June 2025. The estimated aggregate market value of the planned sale is $886,295. The company lists 1,255,921,431 shares outstanding, so the proposed sale represents a de-minimis fraction of total shares.

The shares stem from stock-option exercises that occurred on 01 January 2013 and were subsequently transferred to various family trusts. Ullal certified that she is unaware of any undisclosed material adverse information and noted reliance on a Rule 10b5-1 trading plan adopted 13 December 2024.

Recent insider activity (past three months) shows multiple trust-related sales associated with the Ullal family totaling tens of thousands of shares:

• The Ishan Nagpal Trust – 1,224 shares on 26 June 2025
• The Shriya Nagpal Trust – 1,224 shares on 26 June 2025
• The Tarini Ullal Trust – 14,110 shares on 26 June 2025
• The Adeeti Ullal Trust – 14,110 shares on 26 June 2025
• 2000 Ullal Family Trust – 74,039 shares on 26 June 2025
• Jayshree Ullal – 13,075 shares on 26 June 2025

Key takeaways for investors: the Form 144 notice signals incremental insider selling but, given the small size relative to reported shares outstanding, the direct market impact should be limited. Nonetheless, the pattern of continuing sales by the CEO and related trusts may influence sentiment regarding management’s outlook or personal diversification strategy.

Positive

• None.

Negative

• Continued insider selling by the CEO and related trusts (over 117,000 shares in two days) could create negative sentiment regarding management’s outlook.

Insights

Securities Analyst

TL;DR: Minor Form 144 sale (8,724 shares) by CEO; unlikely to move stock, but ongoing insider selling trend bears monitoring.

The filing is routine in nature: 8,724 shares equate to less than 0.01% of reported shares outstanding. Market value (~$0.9 million) is immaterial to ANET’s daily trading volume. The sale falls under a pre-arranged 10b5-1 plan, which mitigates concerns about informational timing. However, cumulative family-related dispositions exceed 117,000 shares over two days, indicating a consistent liquidity program. While not alarming on a percentage basis, persistent insider sales can weigh on sentiment, especially if unaccompanied by offsetting purchases. Investors should juxtapose these sales with upcoming earnings catalysts and monitor any acceleration in disposal pace.

Corporate Governance Expert

TL;DR: Governance-neutral filing; disclosure aligns with Rule 144 and 10b5-1 best practices.

From a governance standpoint, the CEO’s adherence to Rule 144 notice requirements and reliance on a documented 10b5-1 plan demonstrate procedural compliance. The transparent disclosure of prior trust sales, acquisition dates, and option-exercise origins supports regulatory rigor. No red flags emerge regarding concentration risk or undisclosed pledging. The modest sale size suggests standard diversification rather than signal of deteriorating confidence. Impact to shareholders is therefore neutral, though boards often monitor aggregate insider dispositions to ensure alignment with long-term performance incentives.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK	0001605809
Filer CCC	XXXXXXXX
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer	Arista Networks, Inc.
SEC File Number	001-36468
Address of Issuer	5453 Great America Parkway Santa Clara CALIFORNIA 95054
Phone	4085475000
Name of Person for Whose Account the Securities are To Be Sold	Jayshree Ullal
See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.
Relationship to Issuer	Officer and Director

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	J.P. Morgan Securities LLC 360 Madison Avenue - 6th Floor New York NY 10017	8724	886295	1255921431	06/27/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	01/01/2013	Stock Option Exercise	Issuer			8724	01/01/2013	NA

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
The Ishan Nagpal Trust 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	1224	124888
The Shriya Nagpal Trust 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	1224	124888
The Tarini Ullal Trust 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	14110	1439677
The Adeeti Ullal Trust 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	14110	1439677
2000 Ullal Family Trust 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	74039	7554376
Jayshree Ullal 5453 Great America Parkway Santa Clara CA 95054	Common	06/26/2025	13075	1334073

144: Remarks and Signature

Remarks	The shares filed today will be sold by The Shriya Nagpal Trust - Jayshree Ullal as Trustee The securities to be sold were acquired from stock option exercises by Jayshree Ullal and transferred to the Trust on various dates between 1/1/2013 and 12/31/2013.
Date of Notice	06/27/2025
Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1	12/13/2024
ATTENTION:
The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.
Signature	/s/ J.P. Morgan Securities LLC as agent and attorney-in-fact forJayshree Ullal
ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

How many Arista Networks (ANET) shares does CEO Jayshree Ullal plan to sell?

The Form 144 indicates a planned sale of 8,724 common shares.

What is the estimated value of the proposed insider sale?

The filing lists an aggregate market value of $886,295 for the 8,724 shares.

When is the approximate sale date for the Form 144 shares?

The shares are expected to be sold on or about 26–27 June 2025.

Is the sale part of a Rule 10b5-1 trading plan?

Yes. The CEO adopted a 10b5-1 plan on 13 December 2024, under which the sale will occur.

How many shares have related Ullal family trusts sold recently?

Trusts linked to the Ullal family sold multiple blocks totaling tens of thousands of shares on 26 June 2025, according to the filing.

What percentage of Arista Networks' outstanding shares does this 8,724-share sale represent?

Based on the filing’s 1,255,921,431 shares outstanding figure, the sale represents well under 0.01% of shares outstanding.