[Form 4] Arista Networks Insider Trading Activity

Rhea-AI Filing Summary

Arista Networks director and CEO Jayshree Ullal reported multiple equity transactions tied to vested performance-based restricted stock units and trusts. On 08/20/2025 she acquired 20,592 and 27,664 shares through vesting of restricted stock units, and an additional vesting-related disposition of 24,216 shares was reported at an effective price of $132.78 related to tax withholding. After these transactions her direct beneficially owned common shares total 33,957 and 165,980 in separate line items; she also holds substantial indirect holdings through family trusts.

The filing clarifies that certain shares are held in trusts for children, relatives, and a family trust for which she is co-trustee, and that some restricted awards vest on scheduled quarterly dates tied to prior performance awards.

Positive

• Vesting of performance-based restricted stock units indicates achievement of prior performance conditions and alignment with shareholder interests
• Significant indirect holdings held in family trusts demonstrate continued long-term exposure to company equity

Negative

• 24,216 shares disposed at $132.78 to satisfy tax withholding reduced direct share count
• Some shares are disclaimed beneficially for trusts despite reporting voting and investment control, which may limit direct economic stake disclosure

Insights

Financial Analyst

TL;DR Insider recorded scheduled vesting of performance RSUs with partial withholding for taxes and material indirect family-trust holdings.

The filing documents routine equity compensation activity: two performance-based restricted stock unit grants vested on 08/20/2025 producing 20,592 and 27,664 shares, and 24,216 shares were recorded as disposed at $132.78 to satisfy tax withholding. These are standard compensation mechanics rather than open-market purchases or opportunistic sales. The reporting person retains meaningful indirect exposure through multiple trusts totaling multi-million-share positions, indicating continued alignment with shareholder outcomes.

Corporate Governance Expert

TL;DR Transactions reflect compensation vesting and trustee roles; disclosures show voting/investment control but disclaimed beneficial ownership for some trust assets.

The Form 4 clearly discloses the reporting persons roles as trustee/co-trustee for family trusts and the nature of indirect ownership. The statement that voting and investment control is shared while beneficial ownership is disclaimed for specific trusts is consistent with governance disclosure norms. The document notes scheduled vesting cadence for performance awards and tax-withholding disposals, which are routine and properly reported under Section 16.

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

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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).

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^*

Ullal Jayshree

(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)
	CEO and Chairperson

3. Date of Earliest Transaction (Month/Day/Year)
08/20/2025

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	08/20/2025		M		20,592	A	$0.0(1)	30,509	D
Common Stock	08/20/2025		M		27,664	A	$0.0(1)	58,173	D
Common Stock	08/20/2025		F(2)		24,216	D	$132.78	33,957	D
Common Stock								5,623,721	I	By Trust for Child 1(3)
Common Stock								5,623,721	I	By Trust for Child 2(3)
Common Stock								30,000	I	By Trust for Nephew(4)
Common Stock								30,000	I	By Trust for Niece(4)
Common Stock								20,508,982	I	by Trust(5)

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
Restricted Stock Unit-7	$0.0(1)	08/20/2025		M			20,592	(6)	(6)	Common Stock	20,592	$0.0	41,192	D
Restricted Stock Unit-8	$0.0(1)	08/20/2025		M			27,664	(7)	(7)	Common Stock	27,664	$0.0	165,980	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of Arista Networks, Inc. Common Stock upon vesting.

2. Represents shares withheld to satisfy tax withholding obligations on the vesting of restricted stock units.

3. These shares are held in trust for the benefit of the children of the reporting person for which the reporting person serves as trustee. The reporting person shares voting and investment control over the shares but disclaims beneficial ownership of the shares.

4. These shares are held in trust for the benefit of relatives 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.

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

6. This performance stock award was granted in the first quarter of 2022 and was earned based on attainment of certain performance conditions. The award vested 25% on February 21, 2023 and will continue to vest quarterly over 3 years. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20, and November 20 of each year.

7. This performance stock award was granted in the first quarter of 2023 and was earned based on attainment of certain performance conditions. The award vested (25%) on February 20, 2024, and will continue to vest quarterly over 3 years. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20, and November 20 of each year.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Jayshree Ullal	08/22/2025
	** 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.

FAQ

What insider transactions were reported for Arista Networks (ANET)?

Jayshree Ullal reported vesting of 20,592 and 27,664 restricted stock units on 08/20/2025 and a disposition of 24,216 shares at $132.78 related to tax withholding.

Did the Form 4 indicate any open-market purchases or sales by the insider?

No open-market purchases or voluntary sales were reported; the reported acquisitions were vesting of RSUs and the disposition was for tax withholding.

How much indirect ownership does the reporting person have in ANET?

Significant indirect holdings are reported: 5,623,721 shares by trusts for two children, 30,000 for a nephew, 30,000 for a niece, and 20,508,982 by a family trust (as reported).

What triggered the 24,216-share disposition at $132.78?

The filing states these shares were withheld to satisfy tax withholding obligations on the vesting of restricted stock units.

Are the vested awards performance-based or time-based?

The awards described are performance stock awards granted in early 2022 and 2023 that were earned based on attainment of performance conditions and vest quarterly over three years.