BECHTOLSHEIM ANDREAS 4

What Happened Andreas Bechtolsheim, a reported 10% owner of Arista Networks (ANET), sold 240,000 shares in multiple open‑market transactions on July 2, 2026. The trades were executed in 11 reported blocks with weighted-average prices between $157.24 and $167.07, generating total proceeds of approximately $39,040,874. According to the filing, these sales were effected pursuant to a Rule 10b5‑1 trading plan entered on February 20, 2026 (Footnote F1).

Key Details

• Transaction date: July 2, 2026; Form 4 filed July 7, 2026 (filed late relative to the trade date).
• Reported tranches (shares @ weighted‑avg price = proceeds):
  • 4,113 @ $157.24 = $646,736
  • 8,302 @ $158.40 = $1,315,001
  • 25,845 @ $159.23 = $4,115,211
  • 19,442 @ $160.16 = $3,113,908
  • 7,385 @ $161.17 = $1,190,247
  • 18,098 @ $162.48 = $2,940,527
  • 77,753 @ $163.18 = $12,687,727
  • 47,004 @ $164.23 = $7,719,603
  • 20,218 @ $165.09 = $3,337,840
  • 5,477 @ $166.34 = $911,034
  • 6,363 @ $167.07 = $1,063,040
• Total shares sold: 240,000; total proceeds: ~$39.04M.
• Shares owned after transaction: not specified in the excerpt provided — see the full Form 4 for post‑sale holdings.
• Notable footnotes: F1 indicates a Rule 10b5‑1 plan (entered Feb 20, 2026). Several footnotes (F2–F13) note that reported prices are weighted averages covering multiple trade prices within small ranges. F3 notes some shares are held by a family trust for which the reporting person is trustee.
• Timeliness: Filed July 7 for July 2 trades — this filing appears late (transactionTimeliness = 'L'), which reduces near‑term transparency.

Context These transactions are sales by a 10% owner and were executed under a pre‑arranged 10b5‑1 plan, which typically indicates pre‑planned disposals rather than ad hoc insider timing. Sales by large shareholders can be for many reasons (liquidity, portfolio management, tax planning); they are not strong affirmative signals of company prospects on their own. The weighted‑average price footnotes show the blocks were executed across multiple prices from roughly $156.73 up to $167.58 across the entire set of trades.