Arista (ANET) 10% Owner Andreas Bechtolsheim Sells 300K Shares

What Happened

• Andreas Bechtolsheim, a >10% owner of Arista Networks (ANET), sold a total of 300,000 shares in multiple open-market transactions on September 17, 2026. The sales produced aggregate gross proceeds of approximately $59,686,333. Individual reported lots included (shares @ weighted‑avg price = proceeds): 7,168 @ $193.61 = $1,387,819; 29,271 @ $194.52 = $5,693,889; 32,836 @ $195.47 = $6,418,528; 20,418 @ $196.29 = $4,007,853; 17,947 @ $197.51 = $3,544,637; 26,435 @ $198.33 = $5,242,880; 38,920 @ $199.58 = $7,767,696; 58,043 @ $200.38 = $11,630,639; 16,239 @ $201.34 = $3,269,482; 15,701 @ $202.40 = $3,177,807; 25,096 @ $203.56 = $5,108,547; and 11,926 @ $204.31 = $2,436,556. This was a sale (not a purchase).

Key Details

• Transaction date: 2026-09-17 (reported on Form 4 filed 2026-09-21).
• Price ranges: the lots report weighted-average prices with underlying trade ranges roughly from $192.98 up to $204.84 (see filing footnotes for per-lot ranges).
• Shares sold: 300,000; Total proceeds: ~$59.69 million.
• Shares owned after transaction: Not specified in the summary data here — see the full Form 4 for post-transaction beneficial ownership.
• Notable footnotes: F1 indicates these sales were effected pursuant to a Rule 10b5-1 trading plan adopted Feb 20, 2026. Other footnotes (F2–F14) note that reported prices are weighted averages of multiple trades within stated price ranges and that F3 indicates some shares are held in a family trust for which the reporting person is trustee.
• Filing timeliness: Filed on 2026-09-21 for trades on 2026-09-17 — the filing date is consistent with the standard two-business-day Form 4 deadline and is not flagged as late.

Context

• As a >10% owner, Bechtolsheim is a significant shareholder; sales by 10% owners are often portfolio-management or preplanned transactions. These sales were executed under a prearranged 10b5-1 plan, which typically means trades were scheduled in advance rather than being discretionary reactions to recent company developments.
• This is a sale (often routine) rather than a purchase, so it is less commonly interpreted as a positive signal about future company performance. For full details (post-transaction holdings, exact per-trade prices/times), review the SEC Form 4 filing (accession 0001596532-26-000230).