Arista Networks Insider: 30,000 Options Exercised and Multiple Share Sales Reported
Rhea-AI Filing Summary
Kenneth Duda, CTO and SVP Software Engineering of Arista Networks (ANET), reported multiple transactions on 08/18/2025 under a Rule 10b5-1 plan. He exercised a non-qualified stock option to acquire 30,000 shares at an exercise price of $3.515. He sold multiple lots of common stock in several transactions at weighted-average prices of $135.5703, $136.4658 and $137.3889. The filing lists both direct and indirect holdings after the transactions, including indirect holdings in children’s trusts and a 501(c) foundation totaling over 1.2 million shares in some accounts, and indirect holdings of 750,000 shares each held by two grantor-retained annuity trusts (GRATs). The sales and option exercise were effected pursuant to previously adopted Rule 10b5-1 trading plans.
Positive
- Option exercise executed: 30,000 non-qualified stock option shares were exercised at $3.515.
- Trades executed under Rule 10b5-1 plans, indicating prearranged sale programs for the reporting person, children’s trusts, and foundation.
- Significant indirect holdings disclosed: certain trusts and foundation accounts report holdings in excess of 1.2 million shares and two GRATs hold 750,000 shares each.
Negative
- Multiple share disposals by the reporting person and related trusts on 08/18/2025, including sale lots reported across several weighted-average prices.
- Reduction in direct beneficial ownership reflected in the non-derivative table where direct holdings following transactions are lower than some prior positions (e.g., direct listed amounts such as 42,976, 35,884, 21,180, 12,976 in various lines).
Insights
TL;DR: Insider exercised options and sold stock under preplanned 10b5-1 programs; substantial indirect holdings remain.
The transactions show an exercise of 30,000 option shares at $3.515 and multiple sales executed at weighted-average prices between $135.57 and $137.39. Sales were implemented under 10b5-1 plans, indicating pre-scheduled dispositions rather than opportunistic trading. Post-transaction tables report significant indirect ownership through family trusts and a foundation, with certain accounts holding over 1.2 million shares, and two GRATs each holding 750,000 shares. For investors, these are routine executive liquidity actions and do not, by themselves, change disclosed long-term indirect ownership positions.
TL;DR: Trades conform to Rule 10b5-1 plans and include detailed disclosure of indirect holdings and trustee relationships.
The filing explicitly notes that trades for the reporting person, his children’s trusts, and his foundation were executed pursuant to Rule 10b5-1 plans adopted March 13, 2025. The disclosure identifies co-trustee roles and trustee arrangements, clarifying voting and investment control while disclaiming beneficial ownership where applicable. The form provides the weighted-average price ranges for multiple sale lots and commits to provide granular price information on request, meeting transparency expectations for Section 16 filings.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Non-Qualified Stock Option (right to buy) | 30,000 | $0.00 | -- |
| Exercise | Common Stock | 30,000 | $3.515 | $105K |
| Sale | Common Stock | 7,092 | $135.5703 | $961K |
| Sale | Common Stock | 14,704 | $136.4658 | $2.01M |
| Sale | Common Stock | 8,204 | $137.3889 | $1.13M |
| Sale | Common Stock | 3,782 | $135.5703 | $513K |
| Sale | Common Stock | 7,843 | $136.4658 | $1.07M |
| Sale | Common Stock | 4,375 | $137.3889 | $601K |
| Sale | Common Stock | 2,364 | $135.5703 | $320K |
| Sale | Common Stock | 4,901 | $136.4658 | $669K |
| Sale | Common Stock | 2,735 | $137.3889 | $376K |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
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 March 13, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $134.99 to $135.98, 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 $135.9959 to $136.99, 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 $136.9979 to $137.90, 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. 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. 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. 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. These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee. Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts. Reporting person is the trustee of the Kenneth Duda Annuity Trusts. These shares are held by a family trust for which the reporting person is co-trustee. 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.
