[Form 4] Arista Networks Insider Trading Activity

Rhea-AI Filing Summary

Jayshree Ullal, CEO and Chairperson of Arista Networks (ANET), reported multiple open-market sales of her company stock on 08/25/2025 executed under a Rule 10b5-1 trading plan adopted December 13, 2024. The Form 4 lists four aggregated sale blocks totaling 24,040 shares sold at weighted-average prices ranging approximately from $130.49 to $133.72, with the reported direct beneficial ownership following those transactions shown as 9,917 shares. The filing also discloses substantial indirect holdings held in trusts: 5,623,721 shares for two child trusts, 30,000 each for a nephew and niece trust, and 20,508,982 shares held by a family trust for which she is co-trustee.

Positive

• Sales executed under a Rule 10b5-1 plan, indicating pre-established trading instructions and compliance with insider-trading procedures
• Detailed trust disclosures clarify large indirect holdings, improving transparency about economic interest and voting/investment control

Negative

• Insider sold 24,040 shares on 08/25/2025, reducing direct beneficial ownership to 9,917 shares
• Multiple open-market sales across price ranges may prompt investor questions about insider sentiment despite being under a 10b5-1 plan

Insights

Financial Analyst

TL;DR: CEO sold 24,040 shares via a 10b5-1 plan; direct holdings are now 9,917 while large family trusts hold material positions.

The sales on 08/25/2025 were executed under a pre-established Rule 10b5-1 plan, indicating they were planned rather than opportunistic trades. The aggregate reported sale quantity is 24,040 shares at weighted-average prices in the ~$130–$134 range. Direct ownership reported after the transactions is 9,917 shares, but the filing shows substantial indirect ownership via multiple trusts totaling over 26 million shares combined, which likely represents the meaningful economic interest of the reporting person despite the reduction in direct holdings. From a market-impact perspective, the sales are small relative to the disclosed indirect positions.

Corporate Governance Expert

TL;DR: Insider selling was disclosed under a documented 10b5-1 plan and accompanied by clear trust disclosures, supporting regulatory compliance.

The filing includes explicit 10b5-1 plan disclosure (adopted 12/13/2024) and detailed footnotes describing trust holdings and the reporting persons limited beneficial ownership claims over those trusts. The presence of attorney-in-fact signature and the explanatory footnotes provides strong compliance documentation. For governance review, the material point is transparency: the report identifies both individual sales and large indirect trust positions, allowing stakeholders to assess alignment and potential conflicts without ambiguity.

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)
08/25/2025

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	08/25/2025		S(1)		2,568	D	$131.0369(2)	31,389	D
Common Stock	08/25/2025		S(1)		3,432	D	$132.0938(3)	27,957	D
Common Stock	08/25/2025		S(1)		16,440	D	$133.0977(4)	11,517	D
Common Stock	08/25/2025		S(1)		1,600	D	$133.6029(5)	9,917	D
Common Stock								5,623,721	I	By Trust for Child 1(6)
Common Stock								5,623,721	I	By Trust for Child 2(6)
Common Stock								30,000	I	By Trust for Nephew(7)
Common Stock								30,000	I	By Trust for Niece(7)
Common Stock								20,508,982	I	by Trust(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 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.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $130.49 to $131.41, 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 $131.49 to $132.48, 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 $132.51 to $133.49, 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 $133.52 to $133.72, 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. 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.

7. 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.

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

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Jayshree Ullal	08/27/2025
	** 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 did Jayshree Ullal (ANET) report on the Form 4 filed in August 2025?

The Form 4 reports multiple sales of company common stock on 08/25/2025 executed under a Rule 10b5-1 plan, totaling 24,040 shares sold at weighted-average prices roughly between $130.49 and $133.72.

How many shares does Jayshree Ullal directly and indirectly own after the reported transactions?

The filing shows 9,917 shares held directly after the reported sales and substantial indirect holdings in trusts: 5,623,721 (two child trusts), 30,000 (nephew), 30,000 (niece), and 20,508,982 (family trust).

Were the trades part of a trading plan for ANET insider activity?

Yes. The exercises and/or sales were made pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on December 13, 2024, as stated in the Form 4 footnotes.

Who signed the Form 4 filing for Jayshree Ullal?

The Form 4 was executed by Isabelle Bertin-Bailly, Attorney-in-Fact for Jayshree Ullal and dated 08/27/2025 on the filing.

Do the footnotes explain the pricing reported for the sales?

Yes. Each sale line reports a weighted-average price and footnotes disclose that the shares were sold in multiple transactions within specified price ranges, and the reporting person offers to provide detailed per-transaction counts on request.