[Form 4] Arista Networks Insider Trading Activity

Rhea-AI Filing Summary

Jayshree Ullal, CEO, Chairperson and director of Arista Networks (ANET), reported multiple sales of Arista common stock on 09/05/2025 pursuant to a Rule 10b5-1 trading plan adopted December 13, 2024. The Form 4 lists several block sales executed at weighted-average prices in three ranges: $143.00–$143.9966, $144.00–$144.9998 and $145.00–$145.3851. Specific reported dispositions include lots of 33,010; 24,122; 3,413; 173,204; 126,563; and 17,907 shares, among others, with post-transaction beneficial ownership figures shown for related trusts (examples: 5,590,711; 5,566,589; 20,335,778; 20,209,215). Many shares are held in trusts for the reporting person’s children, relatives or family trusts where Ullal serves as trustee or co-trustee and disclaims beneficial ownership. The filing was signed by an attorney-in-fact on behalf of Ullal on 09/09/2025.

Positive

• Sales executed under a documented Rule 10b5-1 trading plan, indicating prearranged and orderly dispositions
• Filing discloses weighted-average price ranges and offers to provide per-price sale breakdowns upon request
• Post-transaction beneficial ownership reported for trusts, supporting transparency

Negative

• Significant insider share dispositions by the CEO on 09/05/2025 (multiple large tranches reported)
• Concentrated holdings remain in family and related trusts, which can maintain insider influence despite sales

Insights

Financial Analyst

TL;DR: CEO sold multiple share blocks under a prearranged 10b5-1 plan; holdings remain substantial post-sales.

The Form 4 documents systematic dispositions by Jayshree Ullal on 09/05/2025 executed under a 10b5-1 plan adopted December 13, 2024. Sales occurred in multiple tranches at weighted-average prices in three defined ranges near $143–$145. Despite the dispositions, the filing shows large residual holdings held in various family and trust structures with post-transaction balances in the millions of shares. For investors, this is a routine, preplanned liquidity event rather than an ad-hoc insider sale; materiality depends on total insider ownership relative to market float, which is not shown in this filing.

Corporate Governance Expert

TL;DR: Transactions follow a documented 10b5-1 plan and trusts; disclosure meets Form 4 requirements but highlights concentrated insider holdings.

The filing discloses that sales were executed pursuant to a Rule 10b5-1 trading plan and provides weighted-average price ranges and share counts. The disclosure that the reporting person serves as trustee or co-trustee and disclaims beneficial ownership for certain trust-held shares is appropriate and customary. The document is transparent about the plan date and provides the undertaking to supply per-price sale breakdowns on request, which strengthens compliance and disclosure quality.

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^*

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)
09/05/2025

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	09/05/2025		S(1)		33,010	D	$143.2081(2)	5,590,711	I	By Trust for Child 1(3)
Common Stock	09/05/2025		S(1)		24,122	D	$144.5372(4)	5,566,589	I	By Trust for Child 1(3)
Common Stock	09/05/2025		S(1)		3,413	D	$145.0951(5)	5,563,176	I	By Trust for Child 1(3)
Common Stock	09/05/2025		S(1)		33,010	D	$143.2081(2)	5,590,711	I	By Trust for Child 2(3)
Common Stock	09/05/2025		S(1)		24,122	D	$144.5372(4)	5,566,589	I	By Trust for Child 2(3)
Common Stock	09/05/2025		S(1)		3,413	D	$145.0951(5)	5,563,176	I	By Trust for Child 2(3)
Common Stock	09/05/2025		S(6)		173,204	D	$143.2081(2)	20,335,778	I	by Trust(7)
Common Stock	09/05/2025		S(6)		126,563	D	$144.5372(4)	20,209,215	I	by Trust(7)
Common Stock	09/05/2025		S(6)		17,907	D	$145.0951(5)	20,191,308	I	by Trust(7)
Common Stock								9,917	D
Common Stock								30,000	I	By Trust for Nephew(8)
Common Stock								30,000	I	By Trust for Niece(8)

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

Explanation of Responses:

1. 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 relatives on December 13, 2024.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $143.00 to $143.9966, 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. 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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $144.00 to $144.9998, 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 $145.00 to $145.3851, 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 exercises and/or sales reported on this Form 4 were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 13, 2024.

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

8. 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.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Jayshree Ullal	09/09/2025
	** 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).
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FAQ

What did Jayshree Ullal (ANET) report on Form 4 dated 09/05/2025?

The Form 4 reports multiple sales of Arista Networks common stock by Jayshree Ullal executed on 09/05/2025 under a Rule 10b5-1 trading plan adopted December 13, 2024.

How many shares and at what prices were sold by the ANET reporting person?

The filing lists several dispositions including blocks of 33,010; 24,122; 3,413; 173,204; 126,563; and 17,907 shares, with weighted-average price ranges of $143.00–$143.9966, $144.00–$144.9998 and $145.00–$145.3851.

Were the sales part of a 10b5-1 plan for ANET insider transactions?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on December 13, 2024.

Does Jayshree Ullal retain ownership after these transactions?

Yes. The Form 4 shows substantial post-transaction beneficial ownership for various trusts (examples include balances of 5,590,711; 5,566,589; 20,335,778; 20,209,215 shares).

Who signed the Form 4 for Jayshree Ullal and when was it filed?

The Form 4 was signed by Isabelle Bertin-Bailly as attorney-in-fact for Jayshree Ullal and dated 09/09/2025.