Form 4: ServiceTitan Director and 10% Owner Reports Significant Indirect Stock Sales

Byron B. Deeter, a Director and 10% Owner of ServiceTitan, Inc., reported indirect sales of Class A Common Stock by Bessemer Venture Partners funds totaling 12,225 shares on July 8 and July 9, 2025, while also disclosing direct ownership of 1,891 shares from equity grants.

Summary

• Byron B. Deeter, a Director and 10% Owner of ServiceTitan, Inc. (TTAN), reported changes in beneficial ownership of Class A Common Stock.
• On July 8, 2025, Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (collectively, the "Bessemer Funds") sold a total of 879 shares of Class A Common Stock.
• On July 9, 2025, the Bessemer Funds sold an additional 11,346 shares of Class A Common Stock.
• The Reporting Person, Byron B. Deeter, is a partner at Bessemer Venture Partners and holds an indirect, passive economic interest in the shares held by the Bessemer Funds.
• The Reporting Person disclaims beneficial ownership of the securities held by the Bessemer Funds, except to the extent of his pecuniary interest.
• Following these transactions, the Reporting Person's indirect beneficial ownership through the Bessemer Funds is reported as 0 shares.
• The Reporting Person directly holds 1,891 shares of Class A Common Stock, which were received from equity grants issued by ServiceTitan, Inc.
• The Reporting Person has agreed to assign to Deer Management Co, LLC the right to any shares issuable pursuant to this grant or any proceeds from the sale thereof.

Sentiment

Score: 5

Explanation: The sentiment is neutral. While insider sales can be perceived negatively, the explicit mention of a 10b5-1 plan indicates these were pre-scheduled transactions, mitigating concerns about a sudden loss of confidence. The document is purely transactional reporting.

Negatives

• A Director and 10% Owner, Byron B. Deeter, reported indirect sales of a significant number of Class A Common Stock shares (12,225 shares in total) by entities with which he is affiliated, which could be perceived negatively by investors.

Risks

• Insider sales, even if pre-planned, can sometimes be interpreted by the market as a lack of confidence in the company's future prospects, potentially leading to negative sentiment or downward pressure on the stock price.
• The disclaimer of beneficial ownership by the reporting person for the shares held by Bessemer Funds, except for pecuniary interest, highlights the complex ownership structures common in venture capital, which can sometimes obscure the full extent of insider holdings or influence.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction. It solely reports past insider transactions.

Industry Context

This Form 4 filing details specific insider trading activity for ServiceTitan, Inc. and does not provide broader industry context or trends. Insider transactions are a common occurrence across all industries, often driven by personal financial planning or portfolio rebalancing.

Related Party Transactions

• Sales of Class A Common Stock by Bessemer Venture Partners funds, where the Reporting Person has an indirect economic interest as a partner.
• Assignment of the right to shares or proceeds from equity grants to Deer Management Co, LLC by the Reporting Person.

Stakeholder Impact

• Shareholders: May view the insider sales with scrutiny, though the 10b5-1 plan mitigates concerns about immediate negative sentiment. The direct ownership of 1,891 shares from equity grants, even if assigned, indicates continued alignment with company performance.
• Employees: No direct impact mentioned.

Key Dates

Keywords

ServiceTitan, TTAN, SEC Form 4, Insider Trading, Stock Sale, Director, 10% Owner, Bessemer Venture Partners, Equity Grant, Beneficial Ownership