Arista Networks (NYSE: ANET) CTO sells shares after option exercise

Rhea-AI Filing Summary

Arista Networks, Inc. executive Kenneth Duda, its President and CTO, reported option exercises and share sales dated January 20, 2026. He exercised a non-qualified stock option for 30,000 shares of common stock at an exercise price of $3.515 per share, increasing his directly held stock before subsequent sales. On the same day he sold several blocks of directly held common stock in open-market transactions at weighted average prices that include $127.2796, $128.0123, $129.2549 and $129.8985 per share under a Rule 10b5‑1 trading plan entered on March 13, 2025.

Additional sales were made indirectly by a children’s trust for which Duda is co‑trustee, and by a 501(c) foundation for which he and his spouse serve as co‑trustees, each under separate Rule 10b5‑1 trading plans dated March 13, 2025. The filing also lists substantial indirect holdings in annuity and family trusts, which reflect ongoing indirect ownership relationships rather than new transactions.

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

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

X

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 CA 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)
01/20/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	01/20/2026		M(1)		30,000	A	$3.515	42,976	D
Common Stock	01/20/2026		S(1)		7,237	D	$127.2796(2)	35,739	D
Common Stock	01/20/2026		S(1)		9,600	D	$128.0123(3)	26,139	D
Common Stock	01/20/2026		S(1)		10,756	D	$129.2549(4)	15,383	D
Common Stock	01/20/2026		S(1)		2,407	D	$129.8985(5)	12,976	D
Common Stock	01/20/2026		S(6)		3,860	D	$127.2796(2)	1,139,308	I	By Childrens' Trust(7)
Common Stock	01/20/2026		S(6)		5,120	D	$128.0123(3)	1,134,188	I	By Childrens' Trust(7)
Common Stock	01/20/2026		S(6)		5,736	D	$129.2549(4)	1,128,452	I	By Childrens' Trust(7)
Common Stock	01/20/2026		S(6)		1,284	D	$129.8985(5)	1,127,168	I	By Childrens' Trust(7)
Common Stock	01/20/2026		S(8)		2,413	D	$127.2796(2)	529,987	I	By Foundation(9)
Common Stock	01/20/2026		S(8)		3,200	D	$128.0123(3)	526,787	I	By Foundation(9)
Common Stock	01/20/2026		S(8)		3,585	D	$129.2549(4)	523,202	I	By Foundation(9)
Common Stock	01/20/2026		S(8)		802	D	$129.8985(5)	522,400	I	By Foundation(9)
Common Stock								757,961	I	By GRAT JD(10)
Common Stock								757,961	I	By GRAT KD(11)
Common Stock								35,083	I	by Trust(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Non-Qualified Stock Option (right to buy)	$3.515	01/20/2026		M(1)			30,000	(13)	02/11/2026	Common Stock	30,000	$0.0	0	D

Explanation of Responses:

1. The exercise and/or sale of 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 $126.66 to $127.6528, 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 $127.66 to $128.60, 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 $128.66 to $129.6491, 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 $129.66 to $130.29, 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 by the reporting person for the benefit of the reporting person's children on March 13, 2025.

7. 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.

8. 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.

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

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

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

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

13. 1/60th of the shares subject to the option vested and became exercisable on April 1, 2017 and 1/60th of the shares subject to the option shall vested monthly thereafter.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda	01/22/2026
	** 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.
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FAQ

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

The filing shows that Kenneth Duda, Arista Networks’ President and CTO, exercised 30,000 non-qualified stock options and reported multiple sales of common stock, both from his direct holdings and from related trusts and a foundation, all dated January 20, 2026.

How many Arista Networks (ANET) options did Kenneth Duda exercise and at what price?

Duda exercised a non-qualified stock option for 30,000 shares of Arista Networks common stock at an exercise price of $3.515 per share, after which the option position reported in Table II shows 0 derivative securities remaining.

At what prices were Kenneth Duda’s Arista Networks (ANET) shares sold?

The reported common stock sales on January 20, 2026 were executed in multiple transactions at weighted average prices, including $127.2796, $128.0123, $129.2549 and $129.8985 per share, with detailed price ranges described in the footnotes.

Were Kenneth Duda’s Arista Networks (ANET) trades made under a Rule 10b5-1 trading plan?

Yes. The filing states that the exercise and/or sale of directly held shares and the sales through the children’s trust and the 501(c) foundation were each effected under separate Rule 10b5‑1 trading plans entered on March 13, 2025.

Which entities associated with Kenneth Duda sold Arista Networks (ANET) shares in this Form 4?

Indirect sales were reported by a children’s trust for which Duda is co‑trustee and by a 501(c) foundation for which Duda and his spouse serve as co‑trustees. The children’s trust sales are accompanied by a footnote stating that Duda disclaims beneficial ownership of those shares.

What indirect Arista Networks (ANET) holdings does Kenneth Duda report after these transactions?

After the reported transactions, the filing lists indirect ownership of 1,127,168 common shares by the children’s trust, 522,400 shares by the foundation, and separate indirect holdings of 757,961 shares each by the GRAT JD and GRAT KD trusts, plus 35,083 shares held by a family trust.