Arista Networks, Inc. — Director's Dealing 2021

Apr 14, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Arista Networks, Inc. (ANET)
CIK: 0001596532
Period of Report: 2021-04-12

Reporting Person: Duda Kenneth (CTO and SVP Software Eng.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-04-12	Common Stock	M	10000	$4.18	Acquired	10811	Direct
2021-04-12	Common Stock	S	1000	$312.046	Disposed	9811	Direct
2021-04-12	Common Stock	S	3013	$313.3556	Disposed	6798	Direct
2021-04-12	Common Stock	S	4487	$314.3607	Disposed	2311	Direct
2021-04-12	Common Stock	S	1400	$315.5143	Disposed	911	Direct
2021-04-12	Common Stock	S	100	$316.31	Disposed	811	Direct
2021-04-12	Common Stock	S	400	$312.0725	Disposed	45406	Indirect
2021-04-12	Common Stock	S	2084	$313.3792	Disposed	43322	Indirect
2021-04-12	Common Stock	S	1200	$314.5342	Disposed	42122	Indirect
2021-04-12	Common Stock	S	400	$316.1125	Disposed	41722	Indirect
2021-04-12	Common Stock	S	43	$312.0465	Disposed	30757	Indirect
2021-04-12	Common Stock	S	187	$313.1051	Disposed	30570	Indirect
2021-04-12	Common Stock	S	81	$313.9309	Disposed	30489	Indirect
2021-04-12	Common Stock	S	98	$314.8391	Disposed	30391	Indirect
2021-04-12	Common Stock	S	40	$315.8305	Disposed	30351	Indirect
2021-04-12	Common Stock	S	1	$316.49	Disposed	30350	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-04-12	Non-Qualified Stock Option (right to buy)	$4.18	M	10000	Disposed	2022-12-26	Common Stock (10000)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	127525	Indirect
Common Stock	125630	Indirect
Common Stock	126265	Indirect

Footnotes

F1: 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 4, 2020.

F2: The balance shown reflects the correct balance of shares held following transfer from direct ownership to Trust.

F3: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $311.53 to $312.45, 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.

F4: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $312.95 to $313.88, 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.

F5: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $313.97 to $314.96, 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 $314.99 to $315.95, 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 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 December 14, 2020.

F8: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $311.71 to $312.44, 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 in a 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.

F10: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $313.05 to $313.95, 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.

F11: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $314.10 to $315.00, 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.

F12: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $315.94 to $316.29, 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.

F13: The sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into on December 14, 2020 by the reporting person's 501(c) Foundation, for which the reporting person and his spouse serve as co-trustee.

F14: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $311.39 to $312.32, 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.

F15: These shares are held by a 501(c) Foundation for which the reporting person and his spouse serve as co-trustee.

F16: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $312.39 to $313.38, 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.

F17: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $313.39 to $314.38, 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.

F18: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $314.39 to $315.37, 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.

F19: The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $315.40 to $316.35, 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.

F20: Reporting person's spouse is the trustee of the Jennifer Duda Annuity Trusts.

F21: Reporting person is the trustee of the Kenneth Duda Annuity Trusts.

F22: These shares are held by a family trust for which the reporting person is co-trustee. The balance shown reflects the correct balance of shares held following transfer from direct ownership to Trust.

F23: 1/4th of the 20,000 shares subject to the option vested and became exercisable on December 1, 2014 and 1/48th of the shares subject to the option vested each month thereafter.