Form 4: ServiceTitan Director's Affiliated Funds Divest Over 225,000 Class A Common Shares

Funds affiliated with ServiceTitan, Inc. Director and 10% Owner Byron B. Deeter sold a total of 225,277 shares of Class A Common Stock across two transactions in late June 2025.

Summary

• Bessemer Venture Partners VIII L.P. (BVP VIII), Bessemer Venture Partners VIII Institutional L.P. (BVP VIII Inst), and 15 Angels II LLC (collectively, the "Bessemer Funds") sold 118,125 shares of ServiceTitan Class A Common Stock on June 27, 2025.
• The Bessemer Funds sold an additional 107,152 shares of ServiceTitan Class A Common Stock on June 30, 2025.
• 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.
• Mr. Deeter disclaims beneficial ownership of the securities held by the Bessemer Funds, except to the extent of his pecuniary interest.
• The reported price for these sales was $0 per share, which is typical for indirect sales by funds where the reporting person disclaims direct beneficial ownership and the actual sale price would be reported by the funds themselves or in other filings.
• Following these transactions, the Bessemer Funds' reported beneficial ownership through the reporting person's indirect interest is 0 shares.
• Mr. Deeter directly holds 1,891 shares of Class A Common Stock received from equity grants issued by ServiceTitan, though he has agreed to assign the rights to these shares or their proceeds to Deer Management Co, LLC.

Sentiment

Score: 4

Explanation: The sentiment is slightly negative due to the significant sale of shares by funds affiliated with a director and 10% owner. While the sales are indirect and the reporting person disclaims full beneficial ownership, large insider-affiliated sales can be perceived as a lack of confidence or a strategic reduction in exposure, outweighing the minor positive of the equity grant.

Positives

• Byron B. Deeter received 1,891 shares of Class A Common Stock from equity grants issued by ServiceTitan, indicating continued compensation from the Issuer.

Negatives

• Funds affiliated with Director and 10% Owner Byron B. Deeter sold a significant aggregate of 225,277 shares of Class A Common Stock, which could be perceived as a negative signal regarding institutional confidence or a strategic reduction in exposure.

Future Outlook

The document does not provide any forward-looking statements or guidance regarding ServiceTitan's future performance.

Industry Context

This Form 4 filing details an insider transaction, specifically the sale of shares by funds affiliated with a director and significant shareholder. Such filings are routine disclosures and do not inherently provide broader industry context or trends, but they can reflect the sentiment of key stakeholders within the industry.

Related Party Transactions

• The sales of 225,277 shares of Class A Common Stock were conducted by Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (the "Bessemer Funds"). The reporting person, Byron B. Deeter, is a partner at Bessemer Venture Partners and holds an indirect economic interest in these funds, making these transactions related party dealings.

Stakeholder Impact

• Shareholders may view the significant sales by funds affiliated with a director and 10% owner as a potential signal of reduced confidence or a strategic portfolio adjustment, which could influence market perception and share price.

Key Dates

Recommendation

Keywords

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