Arista Networks (ANET) major holder sells 220K shares under 10b5-1 plan

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Arista Networks, Inc. ten percent owner Andreas Bechtolsheim reported open-market sales of 220,000 shares of common stock on June 5, 2026. The shares were sold in multiple transactions at weighted average prices generally ranging from about $152 to $161 per share, pursuant to a Rule 10b5-1 trading plan entered into on February 20, 2026.

Following these sales, Bechtolsheim holds 323,849 shares of Arista Networks common stock directly and an additional 182,803,048 shares indirectly through a family trust for which he is a trustee, indicating that the transactions represent a small portion of his overall ownership.

Insider Trade Summary 10b5-1

Net Seller: 220,000 shares ($34,743,812)

Net Sell 10 txns

Insider BECHTOLSHEIM ANDREAS

Role null

Sold 220,000 shs ($34.74M)

Type	Security	Shares	Price	Value
Sale	Common Stock	7,999	$152.9385	$1.22M
Sale	Common Stock	29,438	$153.7862	$4.53M
Sale	Common Stock	15,140	$154.5581	$2.34M
Sale	Common Stock	2,076	$155.7724	$323K
Sale	Common Stock	16,082	$156.9293	$2.52M
Sale	Common Stock	18,376	$157.7424	$2.90M
Sale	Common Stock	27,027	$158.8808	$4.29M
Sale	Common Stock	98,663	$159.9283	$15.78M
Sale	Common Stock	5,199	$160.4956	$834K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 323,849 shares (Direct, null); Common Stock — 182,803,048 shares (Indirect, by Trust)

Footnotes (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 February 20, 2026. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $152.29 to $153.285, 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 $153.29 to $154.285, 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 $154.295 to $155.29, 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $155.295 to $156.28, 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 $156.31 to $157.305, 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 $157.31 to $158.30, 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 $158.32 to $159.3159, 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 $159.3635 to $160.335, 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 $160.435 to $160.90, 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. These shares are held by a family trust for which the reporting person is a trustee.

Key Figures

Shares sold: 220,000 shares Highest reported sale price: $160.90/share Lowest reported sale price: $152.29/share +4 more

7 metrics

Shares sold 220,000 shares Total common shares sold on June 5, 2026

Highest reported sale price $160.90/share Upper end of one disclosed trading range

Lowest reported sale price $152.29/share Lower end of one disclosed trading range

Direct holdings after transactions 323,849 shares Common stock directly owned following sales

Indirect trust holdings 182,803,048 shares Common stock held indirectly by family trust

Number of sale transactions 9 transactions Open-market sales reported on June 5, 2026

Trading plan date February 20, 2026 Date Rule 10b5-1 trading plan was entered into

Key Terms

Rule 10b5-1 trading plan, weighted average price, family trust, open-market sale, +1 more

5 terms

Rule 10b5-1 trading plan regulatory

"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 20, 2026."

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

weighted average price financial

"The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $152.29 to $153.285, inclusive."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

family trust financial

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

open-market sale financial

"transaction_action: open-market sale; transaction_code_description: Sale in open market or private transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

ten percent owner regulatory

"is_ten_percent_owner: 1 for reporting person BECHTOLSHEIM ANDREAS"

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Form 4 Insider Transactions: What Each Field Means →

06/09/2026 - 07:04 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^*

BECHTOLSHEIM ANDREAS

(Last)

(First)

(Middle)

5453 GREAT AMERICA PARKWAY

(Street)

SANTA CLARA

CALIFORNIA

95054

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

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

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

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

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	06/05/2026		S⁽¹⁾		7,999	D	$152.9385⁽²⁾	323,849	D
Common Stock	06/05/2026		S⁽¹⁾		29,438	D	$153.7862⁽³⁾	294,411	D
Common Stock	06/05/2026		S⁽¹⁾		15,140	D	$154.5581⁽⁴⁾	279,271	D
Common Stock	06/05/2026		S⁽¹⁾		2,076	D	$155.7724⁽⁵⁾	277,195	D
Common Stock	06/05/2026		S⁽¹⁾		16,082	D	$156.9293⁽⁶⁾	261,113	D
Common Stock	06/05/2026		S⁽¹⁾		18,376	D	$157.7424⁽⁷⁾	242,737	D
Common Stock	06/05/2026		S⁽¹⁾		27,027	D	$158.8808⁽⁸⁾	215,710	D
Common Stock	06/05/2026		S⁽¹⁾		98,663	D	$159.9283⁽⁹⁾	117,047	D
Common Stock	06/05/2026		S⁽¹⁾		5,199	D	$160.4956⁽¹⁰⁾	111,848	D
Common Stock								182,803,048	I	by Trust⁽¹¹⁾

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)

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 February 20, 2026.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $152.29 to $153.285, 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 $153.29 to $154.285, 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 $154.295 to $155.29, 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.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $155.295 to $156.28, 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 price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $156.31 to $157.305, 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.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $157.31 to $158.30, 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.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $158.32 to $159.3159, 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.

9. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $159.3635 to $160.335, 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.

10. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $160.435 to $160.90, 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.

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

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Andreas Bechtolsheim	06/09/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did ANET’s Andreas Bechtolsheim report?

Andreas Bechtolsheim reported selling 220,000 shares of Arista Networks common stock. The sales occurred on June 5, 2026 in multiple open-market transactions at weighted average prices around the mid-$150s to low-$160s per share, as disclosed in his Form 4 filing.

At what prices did Andreas Bechtolsheim sell Arista Networks (ANET) shares?

The reported sale prices are weighted averages with trades ranging from $152.29 to $160.90 per share. Each Form 4 line reflects an average, and the filing notes shares were sold in numerous individual trades within these disclosed price ranges.

How many Arista Networks shares does Bechtolsheim still own after this Form 4?

After the reported sales, Bechtolsheim directly holds 323,849 Arista Networks common shares. He also indirectly holds 182,803,048 shares through a family trust for which he serves as trustee, maintaining a very large overall ownership position in the company.

Was the ANET insider sale made under a Rule 10b5-1 trading plan?

Yes. The filing states the exercise and/or sale of shares was effected pursuant to a Rule 10b5-1 trading plan. This trading plan was entered into by the reporting person on February 20, 2026 and governed the June 5, 2026 transactions.

How many Arista Networks shares did Bechtolsheim sell in total on June 5, 2026?

Across nine reported open-market sale transactions, Bechtolsheim sold a total of 220,000 Arista Networks common shares. Each transaction was recorded separately on the Form 4, with its own share count and weighted average sale price disclosure.

How are Bechtolsheim’s indirect ANET holdings structured according to the Form 4?

The Form 4 shows 182,803,048 Arista Networks shares held indirectly “by Trust.” A footnote explains these shares are held by a family trust for which Bechtolsheim is a trustee, indicating his indirect beneficial ownership through that trust structure.