Form 4: ServiceTitan Director Sells Over 31,000 Shares Following Bessemer Fund Distribution

ServiceTitan Director and 10% owner Byron B. Deeter sold 31,187 shares of Class A Common Stock for a weighted average price of $112.60 per share, following a pro rata distribution from Bessemer Venture Partners funds.

Summary

• Byron B. Deeter, a Director and 10% owner of ServiceTitan, Inc. (TTAN), sold 31,187 shares of Class A Common Stock.
• The sale occurred on July 17, 2025, at a weighted average price of $112.60 per share, with prices ranging from $112.23 to $112.81.
• These shares were acquired by Mr. Deeter on July 15, 2025, through pro rata distributions-in-kind from Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC (collectively, the "Bessemer Funds").
• The distributions were made in accordance with exemptions afforded by Rules 16a-13 and 16a-9 of the Securities Exchange Act of 1934.
• Following this transaction, Mr. Deeter directly owns 0 shares of Class A Common Stock and indirectly owns 1,891 shares related to equity grants, the rights to which have been assigned to Deer Management Co, LLC.

Sentiment

Score: 4

Explanation: The sale by a director and 10% owner, while potentially a pre-planned liquidity event from a fund distribution, generally carries a negative sentiment due to reduced insider ownership. However, the context of it being a distribution-in-kind mitigates some of the negative implications compared to an open market sale based on new information.

Positives

• The shares were sold at a relatively high price of $112.60, indicating a strong valuation for ServiceTitan's Class A Common Stock at the time of the transaction.
• The transaction was a sale of shares received via a distribution-in-kind from venture funds, which is often a pre-planned liquidity event for fund partners rather than a direct negative signal about the company's future prospects.

Negatives

• A significant sale of 31,187 shares by a Director and 10% owner could be perceived negatively by the market, as it reduces insider ownership.
• The direct beneficial ownership of the reporting person in Class A Common Stock is now 0 shares, indicating a complete divestment of directly held shares.

Risks

• The sale by a director and 10% owner could lead to negative market sentiment regarding the company's stock, potentially impacting its share price.
• The reduction in direct insider ownership might be interpreted by some investors as a lack of confidence, even if the sale was part of a pre-planned fund distribution.

Future Outlook

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

Industry Context

This insider transaction is a routine disclosure for publicly traded companies. While a sale by a director and 10% owner can sometimes signal concerns, in this case, the shares were acquired just two days prior via a distribution-in-kind from venture funds, suggesting a pre-planned liquidity event for the fund's partners rather than a specific negative outlook on ServiceTitan's industry position or competitive landscape.

Comparison to Industry Standards

• The document does not provide sufficient information to compare ServiceTitan's results or the transaction details to global benchmarks or specific comparable companies/projects. The sale price of $112.60 per share reflects the market valuation at the time of the transaction, but without broader financial context, a detailed comparison is not possible.

Related Party Transactions

• The Reporting Person received shares from Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC, which are likely related entities given the Reporting Person's association with Bessemer Venture Partners.
• The Reporting Person has agreed to assign the right to any shares issuable from equity grants or proceeds from their sale to Deer Management Co, LLC.

Stakeholder Impact

• Shareholders: The sale by a significant insider could lead to concerns about future stock performance and potentially impact investor confidence.

Next Steps

• The document does not mention any specific future actions, events, or milestones for ServiceTitan or the reporting person beyond the reported transaction.

Key Dates

Recommendation

Keywords

ServiceTitan, TTAN, SEC Form 4, Insider Trading, Share Sale, Director Transaction, Bessemer Venture Partners, Equity Distribution, Stock Sale, Byron B. Deeter