Arista (ANET) President & COO Todd Nightingale Sells Shares for Taxes

What Happened
Todd Nightingale, President and COO of Arista Networks (ANET), reported the vesting/conversion of restricted stock units and performance shares and the withholding of shares to cover tax obligations. On 2026-08-20 he had conversion/vesting entries for 116,515 and 10,360 shares (reported as exercises/conversions at $0) and a grant/award of 10,360 shares. To satisfy tax withholding on the vesting, 63,540 shares were disposed/withheld at $186.45 per share, totaling $11,847,033. The withholding was recorded as a tax payment (transaction code F), not an open-market sale.

Key Details

• Transaction date: August 20, 2026; Form 4 filed August 24, 2026 (within the two-business-day reporting window).
• Tax-withholding disposition: 63,540 shares at $186.45 = $11,847,033. (Transaction code F)
• Vesting/conversion entries: 116,515 and 10,360 shares reported as exercises/conversions at $0 (transaction code M); 10,360 shares also reported as a grant/award (code A).
• Footnotes: F1 = each RSU converts to one share on vesting; F2 = shares were withheld to satisfy tax withholding; F3 = RSU vesting schedule (25% on Aug 20, 2026, then 6.25% quarterly); F4 = certain performance award granted in Q2 2025 and vested Feb 20, 2026.
• Shares owned after the transactions: not specified in the Form 4 filing.

Context
This was a routine vesting event with company shares withheld to satisfy tax liabilities rather than an open-market sale; such withholding is common and generally part of standard compensation administration. The multiple $0 exercise/conversion entries reflect RSU/performance-share vesting/conversion into common shares. These transactions are informational about compensation realization and do not by themselves indicate insider buying or a change in investment stance.