Arista Networks Inc

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

(c) Issuer Purchase of Equity Securities

From time to time, we repurchase shares of our common stock pursuant to repurchase programs that are funded from working capital. Our current repurchase program (the "Existing Repurchase Program") allows for stock repurchases of up to $1.2 billion through May 2027. In May 2025, our board of directors authorized and announced a new $1.5 billion stock repurchase program (the “New Repurchase Program” and together with the Existing Repurchase Program, the "Repurchase Programs"). The Repurchase Programs do not obligate us to acquire any of our common stock and may be suspended or discontinued by the Company at any time without prior notice. During the three months ended March 31, 2025, we repurchased a total of $787.1 million of our common stock under our Existing Repurchase Program. As of March 31, 2025, the remaining authorized amount for repurchases under the Existing Repurchase Program was $133.9 million. In April 2025, we repurchased an additional $100.0 million of our common stock authorized under the Existing Repurchase Program. The Repurchase Programs do not obligate us to acquire any of our common stock, and may be suspended or discontinued by the company at any time without prior notice.

Our repurchases for the three months ended March 31, 2025 are disclosed as below (in millions, except per share amounts). For further information on our repurchase activities during the quarter ended March 31, 2025, please refer to Note 6. Stockholders' Equity and Stock-Based Compensation of the Notes to Consolidated Financial Statements included in Part I, Item 1, of this Quarterly Report on Form 10-Q.

(1) On May 7, 2024, we announced that on May 3, 2024, our board of directors authorized as $1.2 billion stock repurchase, which will expire in May, 2027.