Subsequent Events

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Subsequent Events

Subsequent event

Common Stock Split

    On November 1, 2021, the Company announced a four-for-one split of its common stock effected in the form of a stock dividend to shareholders of record as of the close of business on November 11, 2021. The stock dividend payment date is expected to be on or about November 17, 2021, and trading of the Company’s common stock will begin on a split-adjusted basis on or about November 18, 2021.

Stock Repurchases

    Subsequent to September 30, 2021, our board of directors authorized a new $1.0 billion stock repurchase program (the “New Repurchase Program”, together with the “Existing Repurchase Program,” the “Repurchase Programs”). This authorization allows the Company to repurchase shares of its common stock and will be funded from working capital. Repurchases may be made at management's discretion from time to time on the open market, through privately negotiated transactions, transactions structured through investment banking institutions, block purchase techniques, 10b5-1 trading plans, or a combination of the foregoing. The New Repurchase Program commences upon the earlier of the use of all dollar amounts authorized under the Existing Repurchase Program and April 2022, and it expires on the three year anniversary thereof. The Repurchase Programs do not obligate Arista to acquire any of its common stock, and may be suspended or discontinued by the company at any time without prior notice.