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  4. [Form 4] Arista Networks, Inc. Insider Trading Activity

Arista insider sales at $139.47–$144.22; 12,976 shares left

Filing Impact
(Very High)
Filing Sentiment
(Very Negative)
Form Type
4

Rhea-AI Filing Summary

Arista Networks (ANET) insider activity: President and CTO Kenneth Duda exercised 30,000 stock options at $3.515 on 10/17/2025 and sold 30,000 common shares the same day under a Rule 10b5‑1 plan. Sales were executed in multiple tranches at weighted average prices within $139.47–$144.22.

Additional 10b5‑1 plan sales occurred in affiliated entities: a Children’s Trust (total 16,000 shares) and a 501(c) Foundation (total 10,000 shares). Following the transactions, Duda held 12,976 shares directly. Indirect holdings reported include 1,175,168 shares by a Children’s Trust, 552,400 by a Foundation, 762,035 by GRAT JD, 762,035 by GRAT KD, and 9,303 by a family trust. The exercised option relates to 30,000 underlying shares and expires on 02/11/2026.

Positive

  • None.

Negative

  • None.
Insider Duda Kenneth
Role President and CTO
Sold 56,000 shs ($7.99M)
Approx. gross sale proceeds $7.99M
Approx. exercise cost $105K
Type Security Shares Price Value
Exercise Non-Qualified Stock Option (right to buy) 30,000 $0.00 $0.00
Exercise Common Stock 30,000 $3.515 $105K
Sale Common Stock 1,307 $140.0367 $183K
Sale Common Stock 1,612 $140.9664 $227K
Sale Common Stock 5,662 $142.2039 $805K
Sale Common Stock 17,352 $143.0645 $2.48M
Sale Common Stock 4,067 $143.7229 $585K
Sale Common Stock 697 $140.0367 $98K
Sale Common Stock 860 $140.9664 $121K
Sale Common Stock 3,020 $142.2039 $429K
Sale Common Stock 9,255 $143.0645 $1.32M
Sale Common Stock 2,168 $143.7229 $312K
Sale Common Stock 436 $140.0367 $61K
Sale Common Stock 537 $140.9664 $76K
Sale Common Stock 1,887 $142.2039 $268K
Sale Common Stock 5,784 $143.0645 $827K
Sale Common Stock 1,356 $143.7229 $195K
holding Common Stock -- -- --
holding Common Stock -- -- --
holding Common Stock -- -- --
Holdings After Transaction: Non-Qualified Stock Option (right to buy) — 90,000 shares (Direct); Common Stock — 12,976 shares (Direct); Common Stock — 1,175,168 shares (Indirect, By Childrens' Trust); Common Stock — 552,400 shares (Indirect, By Foundation); Common Stock — 762,035 shares (Indirect, By GRAT JD); Common Stock — 762,035 shares (Indirect, By GRAT KD); Common Stock — 9,303 shares (Indirect, by Trust)
Footnotes (14)
  1. F1. 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. F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $139.47 to $140.44, 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. F3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $140.50 to $141.42, 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. F4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $141.5862 to $142.585, 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. F5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $142.60 to $143.59, 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. F6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $143.60 to $144.22, 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. F7. 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.
  8. F8. 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.
  9. F9. 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.
  10. F10. These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.
  11. F11. Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.
  12. F12. Reporting person is the trustee of the Kenneth Duda Annuity Trusts.
  13. F13. These shares are held by a family trust for which the reporting person is co-trustee.
  14. F14. 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.

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Form 4 Insider Transactions: What Each Field Means →

FAQ

What insider transactions did ANET’s Kenneth Duda report?
He exercised 30,000 options at $3.515 and sold 30,000 shares on 10/17/2025 under a Rule 10b5‑1 plan.

At what prices were ANET shares sold by the insider?
Weighted average sale prices were within $139.47–$144.22, across multiple transaction tranches.

How many ANET shares does Kenneth Duda hold directly after the transactions?
Direct beneficial ownership reported as 12,976 shares after the transactions.

Were there sales by affiliated trusts or foundations?
Yes. The Children’s Trust sold 16,000 shares and the Foundation sold 10,000 shares, both under Rule 10b5‑1 plans.

What indirect ANET holdings were reported after the transactions?
Reported indirect holdings include 1,175,168 (Children’s Trust), 552,400 (Foundation), 762,035 (GRAT JD), 762,035 (GRAT KD), and 9,303 (family trust).

What are the key details of the exercised ANET option?
A non‑qualified option for 30,000 shares at $3.515 per share; expiration 02/11/2026.

What trading framework applied to these sales?
The sales were pursuant to Rule 10b5‑1 trading plans entered on March 13, 2025.
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).
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)
10/17/2025
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 10/17/2025 M(1) 30,000 A $3.515 42,976 D
Common Stock 10/17/2025 S(1) 1,307 D $140.0367(2) 41,669 D
Common Stock 10/17/2025 S(1) 1,612 D $140.9664(3) 40,057 D
Common Stock 10/17/2025 S(1) 5,662 D $142.2039(4) 34,395 D
Common Stock 10/17/2025 S(1) 17,352 D $143.0645(5) 17,043 D
Common Stock 10/17/2025 S(1) 4,067 D $143.7229(6) 12,976 D
Common Stock 10/17/2025 S(7) 697 D $140.0367(2) 1,190,471 I By Childrens' Trust(8)
Common Stock 10/17/2025 S(7) 860 D $140.9664(3) 1,189,611 I By Childrens' Trust(8)
Common Stock 10/17/2025 S(7) 3,020 D $142.2039(4) 1,186,591 I By Childrens' Trust(8)
Common Stock 10/17/2025 S(7) 9,255 D $143.0645(5) 1,177,336 I By Childrens' Trust(8)
Common Stock 10/17/2025 S(7) 2,168 D $143.7229(6) 1,175,168 I By Childrens' Trust(8)
Common Stock 10/17/2025 S(9) 436 D $140.0367(2) 561,964 I By Foundation(10)
Common Stock 10/17/2025 S(9) 537 D $140.9664(3) 561,427 I By Foundation(10)
Common Stock 10/17/2025 S(9) 1,887 D $142.2039(4) 559,540 I By Foundation(10)
Common Stock 10/17/2025 S(9) 5,784 D $143.0645(5) 553,756 I By Foundation(10)
Common Stock 10/17/2025 S(9) 1,356 D $143.7229(6) 552,400 I By Foundation(10)
Common Stock 762,035 I By GRAT JD(11)
Common Stock 762,035 I By GRAT KD(12)
Common Stock 9,303 I by Trust(13)
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 10/17/2025 M(1) 30,000 (14) 02/11/2026 Common Stock 30,000 $0.0 90,000 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 $139.47 to $140.44, 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 $140.50 to $141.42, 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 $141.5862 to $142.585, 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 $142.60 to $143.59, 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 $143.60 to $144.22, 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 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.
8. 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.
9. 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.
10. These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.
11. Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.
12. Reporting person is the trustee of the Kenneth Duda Annuity Trusts.
13. These shares are held by a family trust for which the reporting person is co-trustee.
14. 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 10/21/2025
** 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