Form 4: Arista Networks SVP and General Counsel Marc Taxay Executes Stock Options and Sells Shares Under 10b5-1 Plan
SEC Form 4
Arista Networks' SVP and General Counsel, Marc Taxay, executed stock options and sold shares of common stock under a pre-arranged Rule 10b5-1 trading plan.
Summary
- Marc Taxay, SVP and General Counsel of Arista Networks, executed stock options and sold shares of common stock on May 1, 2024.
- These transactions were conducted under a pre-arranged Rule 10b5-1 trading plan established on September 14, 2023.
- Taxay exercised options to acquire 416 shares at $56.585, 416 shares at $61.05, and 212 shares at $61.1075.
- He then sold 1,044 shares at $254.54.
- Following these transactions, Taxay directly owns 0 shares of common stock.
- He continues to hold derivative securities, including 2,500 non-qualified stock options with an exercise price of $56.585, 0 non-qualified stock options with an exercise price of $61.05 and 1,248 non-qualified stock options with an exercise price of $61.1075.
Sentiment
Score: 5
Explanation: The document is a standard SEC Form 4 filing, indicating routine transactions under a pre-arranged trading plan. It doesn't convey any particularly positive or negative sentiment.
Industry Context
This filing is a routine disclosure of insider transactions. It is common for executives to utilize 10b5-1 plans to manage their stock holdings and avoid accusations of insider trading.
Key Dates
| Date | Description |
|---|---|
| 2020-06-01 | 1/48th of the shares subject to the option shall vest and become exercisable on June 1, 2020 and 1/48th of the shares subject to the option shall continue to vest each month thereafter. |
| 2020-12-01 | 1/48th of the shares subject to the option shall vest and become exercisable on December 1, 2020 and 1/48th of the shares subject to the option shall continue to vest each month thereafter. |
| 2023-09-14 | Date the reporting person entered into a Rule 10b5-1 trading plan. |
| 2024-05-01 | Date of the transactions: exercise of stock options and sale of shares. |
| 2024-05-03 | Date of the Form 4 filing. |
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