Form 4: ServiceTitan Director and 10% Owner Reports Future Sale of Over 93,000 Shares Under 10b5-1 Plan

A director and 10% owner of ServiceTitan, Byron B. Deeter, has reported the future sale of 93,828 shares of Class A Common Stock by affiliated Bessemer Venture Partners funds, executed under a Rule 10b5-1 plan.

Summary

• Byron B. Deeter, a Director and 10% Owner of ServiceTitan, Inc. (TTAN), reported future sales of Class A Common Stock by affiliated entities.
• On July 10, 2025, Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (collectively, the "Bessemer Funds") are scheduled to sell a total of 85,122 shares of Class A Common Stock.
• On July 11, 2025, the Bessemer Funds are scheduled to sell an additional 8,706 shares of Class A Common Stock.
• These transactions are being conducted pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged sale.
• Following these reported transactions, the Bessemer Funds will beneficially own 0 shares directly from these specific reported sales.
• The Reporting Person disclaims beneficial ownership of the securities held by the Bessemer Funds, except to the extent of his pecuniary interest.
• The Reporting Person also holds 1,891 shares of Class A Common Stock from equity grants, which have been assigned to Deer Management Co, LLC.

Sentiment

Score: 4

Explanation: While the sales are pre-planned under a 10b5-1 plan, which mitigates immediate negative sentiment, the sheer volume of shares being sold by a director and 10% owner still represents a reduction in insider ownership, which can be viewed with slight caution by the market.

Positives

• The sales are conducted under a Rule 10b5-1 plan, indicating they are pre-scheduled and not necessarily a reaction to new negative information or an immediate loss of confidence in the company.

Negatives

• A significant sale of 93,828 shares by a director and 10% owner, even if pre-planned, can be perceived negatively by the market as it reduces insider ownership and could be interpreted as a lack of conviction in future stock price appreciation.

Risks

• Potential negative market perception due to insider selling, despite the Rule 10b5-1 plan, which could lead to short-term downward pressure on the stock price.

Future Outlook

NA

Industry Context

This Form 4 filing reports an insider transaction for ServiceTitan, Inc., a company operating in the software and technology sector, specifically for home services businesses. Insider sales, even pre-planned, are routinely monitored by investors for insights into management's perspective on future company performance, though this filing does not provide broader industry context.

Related Party Transactions

• The sales involve Bessemer Venture Partners funds, which are affiliated with the reporting person, Byron B. Deeter, who is a partner at Bessemer Venture Partners. The reporting person disclaims beneficial ownership except for his pecuniary interest.

Stakeholder Impact

• Shareholders may interpret the insider sale as a signal, potentially leading to short-term price volatility, although the 10b5-1 plan mitigates the negative implications.

Key Dates

Recommendation

Keywords

ServiceTitan, TTAN, SEC Form 4, Insider Sale, Byron B. Deeter, Bessemer Venture Partners, Rule 10b5-1, Stock Transaction, Director, 10% Owner