Deeter Byron B 4

What Happened

• Byron B. Deeter, a partner at Bessemer Venture Partners and reported 10% owner related to ServiceTitan (TTAN), is linked to sales of Class A common stock by Bessemer-affiliated funds. Footnotes to his Form 4 show Bessemer Venture Partners VIII L.P., Bessemer Venture Partners VIII Institutional L.P., and 15 Angels II LLC sold 5,490; 6,613; and 374 shares, respectively — 12,477 shares total — at a weighted average price of $70.54 (prices ranged $70.50–$71.03), for roughly $880k in proceeds. The transaction line in the filing lists 0 shares @ $0 because Deeter reports only an indirect, passive pecuniary interest in the funds’ holdings and disclaims beneficial ownership except to the extent of any pecuniary interest.

Key Details

• Transaction code: S (Sale). Sales occurred in multiple transactions on June 15, 2026 (period of report dated 2026-06-11; Form filed 2026-06-15).
• Price range and average: $70.50–$71.03; weighted average $70.54.
• Shares sold by fund: BVP VIII — 5,490; BVP VIII Inst — 6,613; 15 Angels — 374 (total 12,477).
• Shares owned after sales (per filing): BVP VIII — 2,369,286; BVP VIII Inst — 2,849,411; 15 Angels — 127,260.
• Other items disclosed: Deeter received 1,891 RSUs as a non‑employee director award (vests 9/15/2026) and agreed to assign rights to Deer Management Co. LLC; he also received 17,690 Class A shares in pro rata distributions from Bessemer funds on 3/26/2026.
• Beneficial ownership: Deeter states an indirect, passive economic interest via his partnership interests and disclaims beneficial ownership of the funds’ securities (see footnote F2).
• Timeliness: Form filed after the reported transaction date (filed 6/15 for a 6/11/2026 period), which is noted as late filing — reduces near‑term transparency.

Context

• This is a sale by investment funds affiliated with Deeter, not an explicit personal open‑market sale by him. For 10% owners or partners at venture firms, reported sales often reflect institutional liquidity decisions rather than direct insider sentiment. The filing’s footnotes provide the detailed breakdown and Deeter’s limited/pas sive economic interest; request the filer or SEC staff for per‑price breakdown if needed.