Form 4: ServiceTitan Director's Affiliated Funds Sell Shares

ServiceTitan Director's affiliated funds sold 41,255 Class A shares.

Summary

• Byron B. Deeter, a Director and 10% Owner of ServiceTitan, Inc. (TTAN), filed a Form 4 reporting transactions by affiliated entities.
• Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (collectively, 'Bessemer Funds') sold shares of ServiceTitan Class A Common Stock.
• On October 9, 2025, the Bessemer Funds sold a total of 40,763 shares of Class A Common Stock.
• On October 10, 2025, the Bessemer Funds sold an additional 492 shares of Class A Common Stock.
• The total number of shares sold by the Bessemer Funds across both dates is 41,255.
• Mr. 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.
• Mr. Deeter also holds 1,891 shares of Class A Common Stock from equity grants, which he has agreed to assign to Deer Management Co, LLC.

Sentiment

Score: 4

Explanation: Sales by funds associated with a director and 10% owner, even with a disclaimer of beneficial ownership, can be perceived as a negative signal regarding future prospects or valuation.

Negatives

• Sales of a significant number of shares (41,255) by funds associated with a Director and 10% owner could be perceived negatively by the market.
• The reporting person's direct equity grants (1,891 shares) are being assigned to another entity, indicating they are not being retained by the individual.

Future Outlook

NA

Industry Context

Insider transaction reports (Form 4) are routine disclosures required by the SEC for directors, officers, and significant shareholders. While sales by insiders can sometimes signal a lack of confidence, they can also be for personal liquidity, diversification, or portfolio rebalancing, especially when made by investment funds.

Related Party Transactions

• Sales of Class A Common Stock by Bessemer Funds, in which Reporting Person Byron B. Deeter has an indirect, passive economic interest.

Stakeholder Impact

• Shareholders may interpret the sales as a signal of reduced confidence from a significant investor, potentially leading to negative sentiment or downward pressure on the stock price.

Key Dates

Recommendation

The filing reports sales of ServiceTitan Class A Common Stock by funds associated with a Director and 10% owner. While insider-affiliated sales can be a negative signal, the reporting person disclaims direct beneficial ownership of the sold shares beyond a pecuniary interest. The absence of specific sale prices in the filing also limits a full assessment of the transaction's implications. Investors should monitor future insider activity and company performance rather than making immediate drastic decisions based solely on this Form 4.

Keywords

ServiceTitan, TTAN, Form 4, Insider Transaction, Stock Sale, Bessemer Venture Partners, Byron Deeter