Kenneth Duda of Arista (NYSE: ANET) exercises options and sells 58K shares

Rhea-AI Filing Summary

Arista Networks President and CTO Kenneth Duda reported an exercise-and-sell transaction in company stock. He exercised a non-qualified stock option for 32,000 shares of common stock at an exercise price of $15.2625 per share, then reported open-market sales totaling 58,000 shares.

The sales occurred on March 17, 2026 at weighted average prices in ranges described between roughly the low $130s and mid $130s per share, pursuant to Rule 10b5-1 trading plans entered on March 13, 2025. After these transactions, Duda holds 12,976 shares directly.

He also reports substantial indirect holdings, including 1,095,168 shares in a childrens’ trust where he is co-trustee, 502,400 shares held by a 501(c) foundation, and 702,147 shares in each of two annuity trusts, plus 201,134 shares in a family trust, as of the reported date.

Insights

Equity compensation and insider-trading analyst

Routine pre-planned option exercise and net sale with large remaining holdings.

Kenneth Duda exercised 32,000 stock options at an exercise price of $15.2625 per share and reported net open-market sales of 58,000 shares on March 17, 2026. The filing describes these as executed under Rule 10b5-1 trading plans, indicating they were pre-scheduled rather than opportunistic.

Following the transactions, he retains 12,976 shares directly and large indirect positions: over 1.0M shares in a childrens’ trust, about 502,400 in a 501(c) foundation, and significant amounts in annuity and family trusts. The net-sell of 58,000 shares appears modest relative to these reported indirect holdings.

The pattern fits a typical compensation-driven exercise-and-sell, with liquidity generated while maintaining substantial economic exposure through trusts and a foundation. Because trades were made under Rule 10b5-1 plans dated March 13, 2025, the timing signal for investors is limited, and overall impact on the broader investment thesis is neutral.

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
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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 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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/17/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/17/2026		M(1)		32,000	A	$15.2625	44,976	D
Common Stock	03/17/2026		S(1)		7,401	D	$133.0345(2)	37,575	D
Common Stock	03/17/2026		S(1)		14,005	D	$134.016(3)	23,570	D
Common Stock	03/17/2026		S(1)		8,581	D	$134.879(4)	14,989	D
Common Stock	03/17/2026		S(1)		2,013	D	$135.9723(5)	12,976	D
Common Stock	03/17/2026		S(6)		3,701	D	$133.0345(2)	1,107,467	I	By Childrens' Trust(7)
Common Stock	03/17/2026		S(6)		7,003	D	$134.016(3)	1,100,464	I	By Childrens' Trust(7)
Common Stock	03/17/2026		S(6)		4,290	D	$134.879(4)	1,096,174	I	By Childrens' Trust(7)
Common Stock	03/17/2026		S(6)		1,006	D	$135.9723(5)	1,095,168	I	By Childrens' Trust(7)
Common Stock	03/17/2026		S(8)		2,313	D	$133.0345(2)	510,087	I	By Foundation(9)
Common Stock	03/17/2026		S(8)		4,377	D	$134.016(3)	505,710	I	By Foundation(9)
Common Stock	03/17/2026		S(8)		2,681	D	$134.879(4)	503,029	I	By Foundation(9)
Common Stock	03/17/2026		S(8)		629	D	$135.9723(5)	502,400	I	By Foundation(9)
Common Stock								702,147	I	By GRAT JD(10)
Common Stock								702,147	I	By GRAT KD(11)
Common Stock								201,134	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)	$15.2625	03/17/2026		M(1)			32,000	(13)	04/12/2028	Common Stock	32,000	$0.0	64,000	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 $132.47 to $133.4683, 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 $133.47 to $134.4696, 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 $134.475 to $135.4697, 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 $135.4874 to $136.41, 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.

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. 1/48th of the shares subject to the option shall vest and become exercisable on June 1, 2020 and 1/48th of the shares subject to the option shall continue to vest each month thereafter.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Kenneth Duda	03/19/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

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

Kenneth Duda reported exercising 32,000 stock options at $15.2625 per share and open-market sales totaling 58,000 common shares on March 17, 2026, under pre-arranged Rule 10b5-1 trading plans, while retaining both direct and substantial indirect share holdings.

How many Arista Networks shares did Kenneth Duda sell and at what prices?

Duda reported selling 58,000 Arista Networks common shares in multiple open-market transactions. Weighted average sale prices fell within ranges described between the low and mid $130s per share, with precise weighted averages disclosed for each sale group in the Form 4 footnotes.

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

After the reported transactions, Duda holds 12,976 Arista Networks shares directly. He also reports large indirect positions, including 1,095,168 shares in a childrens’ trust, 502,400 shares in a 501(c) foundation, two annuity trusts with 702,147 shares each, and 201,134 shares in a family trust.

Were Kenneth Duda’s Arista Networks stock sales part of a Rule 10b5-1 plan?

Yes. The filing states that both the option exercise and sales, including those for the benefit of his children and a 501(c) foundation, were effected under Rule 10b5-1 trading plans entered on March 13, 2025, indicating pre-planned, automated trading instructions.

What type of derivative security did Kenneth Duda exercise in the Arista Networks Form 4?

Duda exercised a non-qualified stock option covering 32,000 shares of Arista Networks common stock, with an exercise price of $15.2625 per share and an option expiration date in April 2028, converting the derivative position into directly held common shares before subsequent sales.

How does this Form 4 affect Kenneth Duda’s economic exposure to Arista Networks stock?

Despite selling 58,000 shares, Duda retains substantial exposure through direct and indirect holdings. He directly owns 12,976 shares and indirectly holds over 1.5 million shares across childrens’ trusts, a 501(c) foundation, annuity trusts, and a family trust, according to the reported balances.