Form 4: ServiceTitan Director's Affiliated Funds Divest Over 68,000 Shares of Class A Common Stock

Funds associated with ServiceTitan, Inc. Director and 10% Owner Byron B. Deeter sold a total of 68,544 shares of Class A Common Stock in early July 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 (15 Angels), collectively referred to as the Bessemer Funds, sold shares of ServiceTitan, Inc. Class A Common Stock.
• On July 2, 2025, the Bessemer Funds sold a combined total of 10,411 shares, consisting of 4,614 shares from BVP VIII, 5,549 shares from BVP VIII Inst, and 248 shares from 15 Angels.
• On July 3, 2025, an additional 58,133 shares were sold by the Bessemer Funds, comprising 25,765 shares from BVP VIII, 30,985 shares from BVP VIII Inst, and 1,383 shares from 15 Angels.
• 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.
• Deeter disclaims beneficial ownership of the securities held by the Bessemer Funds, except to the extent of his pecuniary interest.
• Following these reported transactions, the Bessemer Funds' direct beneficial ownership of the reported shares is 0.
• Byron B. Deeter also holds 1,891 shares of Class A Common Stock received from equity grants, though the right to these shares or proceeds has been assigned to Deer Management Co, LLC.

Sentiment

Score: 3

Explanation: The sale of a significant number of shares by funds associated with a director and 10% owner is generally viewed as a negative indicator, suggesting a potential lack of confidence or a strategic portfolio adjustment by a key insider.

Positives

• None identified.

Negatives

• Significant sale of Class A Common Stock by funds associated with a director and 10% owner, which can be perceived as a negative signal by the market.
• The total of 68,544 shares sold by the Bessemer Funds represents a notable divestment.

Risks

• The market may interpret the sale of shares by funds associated with a director and 10% owner as a lack of confidence in the company's future prospects, potentially leading to negative investor sentiment and downward pressure on the stock price.

Future Outlook

The document, a Form 4, does not provide any forward-looking statements or guidance regarding the company's future performance or strategic direction.

Industry Context

This Form 4 filing reports an insider transaction and does not provide broader industry context or trends.

Related Party Transactions

• The sales were conducted by Bessemer Venture Partners funds, in which the reporting person, Byron B. Deeter, has an indirect, passive economic interest as a partner. This constitutes a transaction involving entities related to a key insider.

Stakeholder Impact

• Shareholders may view the insider selling as a bearish signal, potentially leading to decreased investor confidence and a negative impact on the stock price.

Key Dates

Recommendation

Keywords

ServiceTitan, TTAN, Form 4, insider trading, beneficial ownership, stock sale, director, 10% owner, Bessemer Venture Partners, equity grants