[Form 4] Arista Networks Insider Trading Activity

Rhea-AI Filing Summary

Medicus Pharma Ltd. (Nasdaq: MDCX, MDCXW) has filed Offering Circular Supplement No. 9 under Rule 253(g)(2) to update its April 10, 2025 qualified Regulation A Offering Circular. The supplement registers 1,490,000 common shares that may be issued upon exercise of the company’s publicly-traded warrants, which carry a $4.64 exercise price and expire on 15 November 2029. For reference, the common shares and warrants last traded on 2 July 2025 at $3.22 and $1.00, respectively.

The document primarily incorporates by reference Amendment No. 1 to the company’s 8-K-styled Current Report filed 3 July 2025. The amendment furnishes the complete Share Exchange Agreement dated 29 June 2025 among Medicus, Antev Limited and Antev security-holders. The proposed transaction, if consummated, would add Teverelix—a late-stage prostate-cancer therapeutic candidate—to Medicus’s pipeline. No financial terms or closing conditions beyond those in the agreement are disclosed here.

The company retains “emerging growth company” status and reminds investors of the high-risk nature of the investment and potential dilution from warrant exercises. Other than providing the redacted agreement (Exhibit 2.1) and related XBRL cover page (Exhibit 104), the filing introduces no new financial statements, earnings metrics or guidance.

Investors should review the complete Offering Circular and Exhibit 2.1 for detailed terms, as the supplement is intended to be read together with earlier disclosures.

Insights

Biotech Equity Analyst

TL;DR – Adds Antev deal details; strategic upside, but no immediate financial impact.

The key value in this supplement is transparency. By filing the full Share Exchange Agreement, Medicus clarifies the structure of the proposed Antev acquisition that would deliver rights to Teverelix, a differentiated GnRH antagonist for prostate cancer. While the therapeutic asset could materially expand Medicus’s pipeline, today’s filing neither confirms deal closing nor lays out cash, stock or milestone considerations, so valuation impact cannot yet be modeled. The registration of 1.49 million shares underlying public warrants is routine and already embedded in fully-diluted counts; nonetheless, exercise below intrinsic value would be dilutive. Overall, the disclosure is helpful but neutral to near-term fundamentals.

M&A Specialist

TL;DR – Filing formalizes agreement, modestly positive for deal certainty.

Providing the executed Share Exchange Agreement reduces execution risk from an M&A perspective: counterparties, closing conditions and representations are now public, which usually accelerates regulatory and shareholder review. Absent adverse terms, codifying the document signals continued momentum toward completion. Investors should note that the exhibit is partially redacted, and schedules are omitted, which limits diligence on contingent liabilities or earn-outs. The supplement does not alter capital structure beyond pre-existing warrants; therefore, dilution shock is limited. On balance, greater visibility into a potentially accretive asset makes the update slightly positive.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Giancarlo Charles H

(Last) (First) (Middle)

5453 GREAT AMERICA PARKWAY

(Street)

SANTA CLARA CA 95054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Arista Networks, Inc. [ ANET ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/01/2025		S(1)		2,253	D	$98.1965(2)	71,531	I	by Trust(3)
Common Stock	07/01/2025		S(1)		3,548	D	$98.947(4)	67,983	I	by Trust(3)
Common Stock	07/01/2025		S(1)		296	D	$100.0343(5)	67,687	I	by Trust(3)
Common Stock	07/01/2025		S(1)		1,660	D	$101.296(6)	66,027	I	by Trust(3)
Common Stock	07/01/2025		S(1)		243	D	$102.2363(7)	65,784	I	by Trust(3)
Common Stock								219,636	D
Common Stock								50,000	I	Charitable Trust(8)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. This sale was effected pursuant to a Rule 10b5-1 trading plan entered into by the reporting person on June 14, 2024.

2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $97.65 to $98.62, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. These shares are held by a family trust for which the reporting person is co-trustee.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.66 to $99.59, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.74 to $100.40, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.92 to $101.90, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $102.20 to $102.26, inclusive. The reporting person undertakes to provide Arista Networks, Inc., any security holder of Arista Networks, Inc. or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

8. These shares are held by a Charitable Remainder Trust for which the reporting person is co-trustee.

	By: Isabelle Bertin-Bailly, Attorney-in-Fact For: Charles Giancarlo	07/03/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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