Arista (ANET) Director Kelly Battles Bodnar Converts 538 RSUs

What Happened

• Kelly Battles Bodnar, a director of Arista Networks (ANET), had 538 restricted stock units (RSUs) convert to common shares on 2026-08-20 (reported on a Form 4 filed 2026-08-24). The filing shows 538 shares acquired via exercise/conversion (transaction code M) and 538 shares disposed (also reported with $0 price), resulting in no cash value recorded on the Form 4.
• Per the filing footnotes, each RSU represents a contingent right to one share and the RSUs were granted May 29, 2026; one-quarter of the grant vested on August 20, 2026 with the same quarterly vesting schedule thereafter. The simultaneous acquire-and-dispose pattern with $0 reported is consistent with RSUs vesting and an equal number of shares being withheld/surrendered (commonly for tax-withholding), though the filing itself lists $0 for the transactions.

Key Details

• Transaction date: 2026-08-20; Form 4 filed: 2026-08-24 (timely — within SEC’s 2 business-day requirement).
• Transaction type: M = exercise/conversion of a derivative security (RSU conversion to shares).
• Shares acquired: 538 at $0.00; shares disposed: 538 at $0.00; total cash value reported on Form 4: $0.
• Footnotes: F1 — each RSU converts to one share on vesting; F2 — RSUs granted 5/29/2026, 1/4 vested 8/20/2026 and subsequent quarterly vesting.
• Shares owned after transaction: not specified in the provided filing summary.

Context

• This filing documents RSU vesting/conversion rather than an open-market purchase or sale. Such conversions are routine compensation events for insiders; the equal acquire/dispose entries and $0 prices typically reflect net settlement or share withholding for taxes rather than a market sale. No indication of a 10b5-1 plan or late filing is present.