SEC Form 4 · accession 0001596532-16-000356
Arista Networks, Inc. · ANET
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Marc Taxay
Officer — SVP and General Counsel
Period of report
Nov 21, 2016
Accepted (ET)
Nov 23, 2016 · 5:05 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001596532
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Nov 21, 2016 | M | 1,500 | $0.00 | A | 7,575 | D | |
| Common StockF1 | Nov 21, 2016 | M | 600 | $0.00 | A | 8,175 | D | |
| Common StockF2 | Nov 21, 2016 | F | 1,095 | $94.48 | D | 7,080 | D | |
| Common Stock | Nov 21, 2016 | M | 7,083 | $7.76 | A | 14,163 | D | |
| Common Stock | Nov 21, 2016 | M | 917 | $22.49 | A | 15,080 | D | |
| Common Stock | Nov 21, 2016 | S | 8,000 | $90.00 | D | 7,080 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Non-Qualified Stock Option (right to buy)F4 | $7.76 | Nov 21, 2016 | M | 7,083 | D | — | Apr 18, 2023 | Common Stock | 7,083 | 2,917 | D |
| Non-Qualified Stock Option (right to buy)F5 | $22.49 | Nov 21, 2016 | M | 917 | D | — | Jan 12, 2024 | Common Stock | 917 | 9,083 | D |
| Restricted Stock Unit-1F1,F6 | $0.00 | Nov 21, 2016 | M | 1,500 | D | — | — | Common Stock | 1,500 | 15,000 | D |
| Restricted Stock Unit-3F1,F7 | $0.00 | Nov 21, 2016 | M | 600 | D | — | — | Common Stock | 600 | 10,200 | D |
Explanation of responses
- F1Each restricted stock unit represents a contingent right to receive one share of Arista Networks, Inc. Common Stock upon vesting.
- F2Represents shares withheld to satisfy tax withholding obligations on the vesting of restricted stock units.
- F3The exercise and sale of shares was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on September 13, 2016.
- F41/4th of the 10,000 shares subject to the option shall vest and become exercisable on December 1, 2014 and 1/48th of the shares subject to the option shall vest each month thereafter.
- F51/5th of the 10,000 shares subject to the option shall vest and become exercisable on May 1, 2016 and 1/60th of the shares subject to the option shall vest each month thereafter.
- F6The reporting person was granted 24,000 restricted stock units on April 21, 2015. Twenty-five percent (25%) of the restricted stock units vested on May 20, 2016 and will continue to vest at a rate of six and one-quarter percent (6.25%) on each quarterly vest date thereafter. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20 or November 20 of each year.
- F7The reporting person was granted 12,000 restricted stock units on April 8, 2016. Five percent (5%) of the restricted stock units vested on May 20, 2016 and will continue to vest at the same rate on each quarterly vest date thereafter. A quarterly vest date is the first market trading day on or after February 20, May 20, August 20 or November 20 of each year.