Form 4: ServiceTitan Director Reports ICONIQ Fund Share Distributions

William J.G. Griffith, a Director and 10% owner of ServiceTitan, reported the distribution of Class A Common Stock from various ICONIQ Strategic Partners funds.

Summary

• William J.G. Griffith, a Director and 10% owner of ServiceTitan, Inc. (TTAN), reported changes in his beneficial ownership of Class A Common Stock.
• On September 9, 2025, several ICONIQ Strategic Partners funds, where Griffith holds equity interests in their general partners, distributed a total of 1,000,000 shares of ServiceTitan Class A Common Stock to their limited partners and general partners.
• These distributions were made for no consideration and are exempt under Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.
• Specifically, ICONIQ Strategic Partners II, L.P. distributed 359,020 shares, ICONIQ Strategic Partners II-B, L.P. distributed 281,058 shares, ICONIQ Strategic Partners II Co-Invest, L.P. (ST Series) distributed 147,885 shares, ICONIQ Strategic Partners II Co-Invest, L.P. (ST-2 Series) distributed 60,368 shares, ICONIQ Strategic Partners III, L.P. distributed 73,323 shares, and ICONIQ Strategic Partners III-B, L.P. distributed 78,346 shares.
• Following these distributions, the indirect beneficial ownership by the ICONIQ funds decreased, while Griffith's direct beneficial ownership increased by 95,970 shares, bringing his total direct ownership to 357,924 shares held through family and estate planning trusts.
• Griffith disclaims beneficial ownership of the reported securities for Section 16 purposes, except to the extent of his pecuniary interest therein.

Sentiment

Score: 5

Explanation: The filing reports a structural change in beneficial ownership through distributions from investment funds, not a direct sale or purchase indicating market sentiment or company performance.

Positives

• The distributions were made for no consideration, indicating a restructuring of ownership rather than a sale for profit by the funds.
• William J.G. Griffith's direct beneficial ownership of ServiceTitan Class A Common Stock increased by 95,970 shares as a result of these distributions.

Negatives

• The indirect beneficial ownership of ServiceTitan Class A Common Stock by the various ICONIQ Strategic Partners funds decreased due to the distributions.

Risks

• No specific operational or financial risks for ServiceTitan were mentioned in this Form 4 filing.

Future Outlook

N/A

Management Comments

• William J.G. Griffith disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any.
• This report shall not be deemed an admission that the Reporting Person is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

Industry Context

N/A

Related Party Transactions

• Distributions of Class A Common Stock were made from various ICONIQ Strategic Partners funds to their limited partners and general partners, including entities where William J.G. Griffith holds equity interests.

Stakeholder Impact

• Shareholders: The filing details a change in the beneficial ownership structure for a significant insider and associated investment funds, which could be of interest to other shareholders regarding long-term holdings.
• Investment Funds (ICONIQ Strategic Partners): The distributions represent a reduction in their direct holdings of ServiceTitan stock, reallocating shares to their underlying partners.

Key Dates

Keywords

ServiceTitan, TTAN, Form 4, Insider Transaction, Beneficial Ownership, Stock Distribution, ICONIQ Capital, William J.G. Griffith, Class A Common Stock