ANET Form 4: Jayshree Ullal discloses pre-arranged sales totaling 355,773 shares
Rhea-AI Filing Summary
Jayshree Ullal, identified as CEO and Chairperson of Arista Networks (ANET), reported multiple sales of company common stock with a transaction date of 08/07/2025. The Form 4 discloses sales executed under a Rule 10b5-1 trading plan adopted December 13, 2024. The filing shows at least 355,773 shares sold across several entries, with weighted-average prices reported at $139.7422 and $140.606 and stated price ranges of $139.50–$140.495 and $140.50–$141.00.
The sales relate largely to shares held in various trusts for relatives for which the reporting person serves as trustee or co-trustee; the filing states the reporting person disclaims beneficial ownership of those trust shares. Post-transaction beneficial-ownership figures are reported for trusts (for example, ~20.6 million and ~5.66 million shares in listed trusts) and a small direct holding is shown. All transactions are disclosed as pursuant to the pre-existing 10b5-1 plan.
Positive
- Sales were executed under a Rule 10b5-1 trading plan adopted on December 13, 2024, indicating pre-arranged transactions.
- The filing discloses trustee relationships and explicitly states the reporting person disclaims beneficial ownership of trust-held shares.
Negative
- The reporting person, identified as CEO and Chairperson, sold at least 355,773 shares, a sizeable absolute volume of stock.
- Multiple large trust-level sales were reported with weighted-average prices near $140, which market participants may note as meaningful insider liquidity.
Insights
TL;DR: CEO Ullal executed pre-arranged sales under a 10b5-1 plan totaling at least 355,773 ANET shares; weighted prices near $140.
The transaction size is material in absolute share count but was performed under a documented Rule 10b5-1 plan adopted December 13, 2024, which limits immediate interpretive weight about company prospects. Weighted-average prices of $139.7422 and $140.606 are reported, with stated sale ranges up to $141. The filing also clarifies that many shares are held in family trusts where the reporting person serves as trustee and disclaims beneficial ownership, and it reports sizable trust-level beneficial holdings remaining after these sales.
TL;DR: Insider sales were executed under a 10b5-1 plan and the filing documents trustee relationships and disclaimers of beneficial ownership.
The Form 4 shows compliance with procedural disclosure: sales are tied to a 10b5-1 plan and the explanatory footnotes describe trust arrangements and the reporting person's trustee role. From a governance perspective, the filing includes appropriate disclosures about voting/investment control and disclaimers of beneficial ownership for trust-held shares. The form does not allege any deviation from the stated plan or incomplete disclosure in the provided text.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock | 37,308 | $139.7422 | $5.21M |
| Sale | Common Stock | 10,420 | $140.606 | $1.47M |
| Sale | Common Stock | 37,308 | $139.7422 | $5.21M |
| Sale | Common Stock | 10,420 | $140.606 | $1.47M |
| Sale | Common Stock | 195,732 | $139.7422 | $27.35M |
| Sale | Common Stock | 54,668 | $140.606 | $7.69M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $139.50 to $140.495, 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. 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. 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 $141.00, 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 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. These shares are held by a family trust for which the reporting person is co-trustee. 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.
