Arista Networks, Inc. — Director's Dealing 2021

Nov 25, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arista Networks, Inc. (ANET)
CIK: 0001596532
Period of Report: 2021-11-22

Reporting Person: BECHTOLSHEIM ANDREAS (Director, Chief Development Officer, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-11-22	Common Stock	M	8252	$0.0	Acquired	89720	Direct
2021-11-22	Common Stock	M	5000	$0.0	Acquired	94720	Direct
2021-11-22	Common Stock	F	6291	$128.16	Disposed	88429	Direct
2021-11-22	Common Stock	M	4000	$5.6225	Acquired	92429	Direct
2021-11-22	Common Stock	M	66668	$9.5	Acquired	159097	Direct
2021-11-22	Common Stock	M	20000	$14.06	Acquired	179097	Direct
2021-11-22	Common Stock	M	9332	$23.8775	Acquired	188429	Direct
2021-11-22	Common Stock	S	36106	$128.6043	Disposed	152323	Direct
2021-11-22	Common Stock	S	37081	$129.339	Disposed	115242	Direct
2021-11-22	Common Stock	S	9444	$130.5108	Disposed	105798	Direct
2021-11-22	Common Stock	S	17369	$131.4438	Disposed	88429	Direct
2021-11-22	Common Stock	S	36241	$128.6018	Disposed	48683759	Indirect
2021-11-22	Common Stock	S	36625	$129.3317	Disposed	48647134	Indirect
2021-11-22	Common Stock	S	9529	$130.4642	Disposed	48637605	Indirect
2021-11-22	Common Stock	S	17605	$131.4368	Disposed	48620000	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-11-22	Non-Qualified Stock Option (right to buy)	$5.6225	M	4000	Disposed	2024-01-12	Common Stock (4000)	Direct
2021-11-22	Non-Qualified Stock Option (right to buy)	$9.5	M	66668	Disposed	2024-05-19	Common Stock (66668)	Direct
2021-11-22	Non-Qualified Stock Option (right to buy)	$14.06	M	20000	Disposed	2026-02-11	Common Stock (20000)	Direct
2021-11-22	Non-Qualified Stock Option (right to buy)	$23.8775	M	9332	Disposed	2027-02-05	Common Stock (9332)	Direct
2021-11-22	Restricted Stock Unit-1	$0.0	M	8252	Disposed		Common Stock (8252)	Direct
2021-11-22	Restricted Stock Unit-2	$0.0	M	5000	Disposed		Common Stock (5000)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of Arista Networks, Inc. Common Stock upon vesting.

F2: On November 18, 2021, the issuer completed a four-for-one stock split of the issuer's common stock. All amounts have been adjusted to give effect to this stock split.

F3: Represents shares withheld to satisfy tax withholding obligations on the vesting of restricted stock units.

F4: The exercise and/or sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on June 14, 2021.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $128.02 to $129.01, 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.

F6: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $129.02 to $130.01, 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.

F7: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $130.02 to $131.01, 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.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $131.02 to $131.88, 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.

F9: These shares are held by a family trust for which the reporting person is a trustee.

F10: 1/5th of the shares subject to the option vested and became exercisable on December 1, 2017 and 1/60th of the shares subject to the option shall vest monthly thereafter.

F11: 1/5th of the shares subject to the option vested on September 30, 2017 and 1/60th of the shares subject to the option shall vest monthly thereafter.

F12: 1/60th of the shares subject to the option vested on January 1, 2017 and 1/60th of the shares subject to the option shall continue to vest each month thereafter.

F13: 1/5th of the shares subject to the option vested and became exercisable on February 6, 2018 and 1/60th of the shares subject to the option shall vest each month thereafter.

F14: Five percent (5%) of the restricted stock units awarded vested on February 20, 2017 and will continue to vest at the same rate on each quarterly vest date thereafter. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20, or November 20 of each year.

F15: Six and one-quarter percent (6.25%) of the restricted stock units awarded vested on May 20, 2019 and will continue to vest at the same rate on each quarterly vest date thereafter. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20, November 20 of each year.