Were Kenneth Duda’s Arista Networks share sales under a Rule 10b5-1 plan?

Yes. The filing states that both his personal sales and sales by his 501(c) foundation and children’s trust were effected under Rule 10b5-1 trading plans entered into on March 13, 2025. These plans pre-schedule trades to help separate them from day-to-day market decisions.

Arista Networks (ANET) CTO sells 58K shares under Rule 10b5-1 plans

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Arista Networks President and CTO Kenneth Duda reported multiple equity transactions in Arista Networks common stock. He exercised a non-qualified stock option for 32,000 shares at an exercise price of $15.2625 per share, increasing his direct common stock holdings before subsequent sales.

On the same date, pre-arranged Rule 10b5-1 trading plans led to open-market sales totaling 58,000 shares of common stock at weighted average prices generally between about $140.52 and $144.13 per share. After these direct sales, he held 12,976 Arista shares directly.

Additional sales were made by entities associated with him, including a 501(c) foundation where he and his spouse serve as co-trustees and a children’s trust, under Rule 10b5-1 plans entered into on March 13, 2025. He also reports indirect holdings through family and annuity trusts.

Insights

Planned option exercise plus programmed insider and family-entity sales.

Kenneth Duda, President and CTO of Arista Networks, exercised 32,000 stock options at an exercise price of $15.2625, converting derivative awards into common shares. The filing then shows open-market sales totaling 58,000 shares across his direct holdings and related entities.

Many sales were executed under Rule 10b5-1 trading plans dated March 13, 2025, which allow pre-scheduled trades. Portions of the activity are attributed to a 501(c) foundation and a children’s trust, where he or his spouse act as trustee or co-trustee, with one trust noting a disclaimer of beneficial ownership.

After the transactions, Duda retains 12,976 shares directly, plus sizable indirect positions through trusts and annuity vehicles. The weighted-average sale prices, ranging from about $140.52 to $144.13, highlight monetization of equity at substantially above the option exercise price. The overall impact depends on how investors interpret these planned sales relative to his remaining ownership.

Insider Trade Summary

Net Seller: 58,000 shares ($8,259,002)

Net Sell 20 txns

Insider Duda Kenneth

Role President and CTO

Sold 58,000 shs ($8.26M)

Type	Security	Shares	Price	Value
Exercise	Non-Qualified Stock Option (right to buy)	32,000	$0.00	--
Exercise	Common Stock	32,000	$15.2625	$488K
Sale	Common Stock	6,069	$141.1477	$857K
Sale	Common Stock	10,363	$142.1004	$1.47M
Sale	Common Stock	10,989	$142.9243	$1.57M
Sale	Common Stock	4,524	$143.7159	$650K
Sale	Common Stock	55	$144.74	$8K
Sale	Common Stock	1,897	$141.1477	$268K
Sale	Common Stock	3,238	$142.1004	$460K
Sale	Common Stock	3,434	$142.9243	$491K
Sale	Common Stock	1,414	$143.7159	$203K
Sale	Common Stock	17	$144.74	$2K
Sale	Common Stock	3,034	$141.1477	$428K
Sale	Common Stock	5,182	$142.1004	$736K
Sale	Common Stock	5,494	$142.9243	$785K
Sale	Common Stock	2,262	$142.7159	$323K
Sale	Common Stock	28	$144.74	$4K
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 96,000 shares (Direct); Common Stock — 44,976 shares (Direct); Common Stock — 520,503 shares (Indirect, By Foundation)

Footnotes (1)

The exercise and/or sale eof shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on March 13, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $140.52 to $141.50, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $141.52 to $142.51, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $142.52 to $143.51, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $143.52 to $144.13, 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. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into on March 13, 2025 by the reporting person's 501(c) Foundation, for which the reporting person and his spouse serve as co-trustee. These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee. 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 March 13, 2025. 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. These shares are held by a family trust for which the reporting person is co-trustee. Reporting person is the trustee of the Kenneth Duda Annuity Trusts. Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts. 1/48th of the shares subject to the option vested and became exercisable on June 1, 2020 and 1/48th of the shares subject to the option continued to vest each month thereafter.

Form 4 Insider Transactions: What Each Field Means →

02/19/2026 - 08:43 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a 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). See Instruction 10.

1. Name and Address of Reporting Person^*

Duda Kenneth

(Last)

(First)

(Middle)

5453 GREAT AMERICA PARKWAY

(Street)

SANTA CLARA

95054

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
Arista Networks, Inc. [ ANET ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	President and CTO

3. Date of Earliest Transaction (Month/Day/Year)
02/17/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/17/2026		M⁽¹⁾		32,000	A	$15.2625	44,976	D
Common Stock	02/17/2026		S⁽¹⁾		6,069	D	$141.1477⁽²⁾	38,907	D
Common Stock	02/17/2026		S⁽¹⁾		10,363	D	$142.1004⁽³⁾	28,544	D
Common Stock	02/17/2026		S⁽¹⁾		10,989	D	$142.9243⁽⁴⁾	17,555	D
Common Stock	02/17/2026		S⁽¹⁾		4,524	D	$143.7159⁽⁵⁾	13,031	D
Common Stock	02/17/2026		S⁽¹⁾		55	D	$144.74	12,976	D
Common Stock	02/17/2026		S⁽⁶⁾		1,897	D	$141.1477⁽²⁾	520,503	I	By Foundation⁽⁷⁾
Common Stock	02/17/2026		S⁽⁶⁾		3,238	D	$142.1004⁽³⁾	517,265	I	By Foundation⁽⁷⁾
Common Stock	02/17/2026		S⁽⁶⁾		3,434	D	$142.9243⁽⁴⁾	513,831	I	By Foundation⁽⁷⁾
Common Stock	02/17/2026		S⁽⁶⁾		1,414	D	$143.7159⁽⁵⁾	512,417	I	By Foundation⁽⁷⁾
Common Stock	02/17/2026		S⁽⁶⁾		17	D	$144.74	512,400	I	By Foundation⁽⁷⁾
Common Stock	02/17/2026		S⁽⁸⁾		3,034	D	$141.1477⁽²⁾	1,124,134	I	By Childrens' Trust⁽⁹⁾
Common Stock	02/17/2026		S⁽⁸⁾		5,182	D	$142.1004⁽³⁾	1,118,952	I	By Childrens' Trust⁽⁹⁾
Common Stock	02/17/2026		S⁽⁸⁾		5,494	D	$142.9243⁽⁴⁾	1,113,458	I	By Childrens' Trust⁽⁹⁾
Common Stock	02/17/2026		S⁽⁸⁾		2,262	D	$142.7159⁽⁵⁾	1,111,196	I	By Childrens' Trust⁽⁹⁾
Common Stock	02/17/2026		S⁽⁸⁾		28	D	$144.74	1,111,168	I	By Childrens' Trust⁽⁹⁾
Common Stock								35,083	I	By Trust⁽¹⁰⁾
Common Stock								757,961	I	By GRAT KD⁽¹¹⁾
Common Stock								757,961	I	By GRAT JD⁽¹²⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Non-Qualified Stock Option (right to buy)	$15.2625	02/17/2026		M⁽¹⁾			32,000	⁽¹³⁾	04/12/2028	Common Stock	32,000	$0	96,000	D

Explanation of Responses:

1. The exercise and/or sale eof shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on March 13, 2025.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $140.52 to $141.50, 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.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $141.52 to $142.51, 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $142.52 to $143.51, 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.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $143.52 to $144.13, 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.

6. The sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into on March 13, 2025 by the reporting person's 501(c) Foundation, for which the reporting person and his spouse serve as co-trustee.

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

8. 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 March 13, 2025.

9. 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.

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

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

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

13. 1/48th of the shares subject to the option vested and became exercisable on June 1, 2020 and 1/48th of the shares subject to the option continued to vest each month thereafter.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda	02/19/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What did Arista Networks (ANET) CTO Kenneth Duda report in this Form 4?

Kenneth Duda reported exercising a non-qualified stock option for 32,000 Arista Networks shares at $15.2625 and related open-market sales totaling 58,000 shares. The transactions involve his direct holdings and several trusts and a 501(c) foundation associated with him and his family.

How many Arista Networks shares did Kenneth Duda sell in this filing?

The Form 4 shows open-market sales totaling 58,000 Arista Networks common shares. These sales were split across his direct holdings, a 501(c) foundation, and a children’s trust, with weighted-average prices generally between about $140.52 and $144.13 per share on the transaction date.

What stock options did Kenneth Duda exercise at Arista Networks (ANET)?

Duda exercised a non-qualified stock option covering 32,000 Arista Networks shares at an exercise price of $15.2625 per share. The option had a vesting schedule where one forty-eighth of the shares vested monthly starting June 1, 2020, leading to full exercisability over time.

How many Arista Networks shares does Kenneth Duda own after these transactions?

After the reported direct sales, Duda holds 12,976 Arista Networks shares directly. He also reports substantial indirect holdings, including 512,400 shares in a 501(c) foundation, 1,111,168 shares in a children’s trust, 35,083 shares in a family trust, and annuity trusts each holding 757,961 shares.

What indirect ownership structures are involved in Kenneth Duda’s Arista Networks holdings?

His indirect holdings include a 501(c) foundation where he and his spouse are co-trustees, a children’s trust where he shares voting and investment control but disclaims beneficial ownership, a family trust, and annuity trusts (Kenneth Duda Annuity Trusts and Jennifer Duda Annuity Trusts), all reporting large Arista share positions.