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ServiceTitan, Inc.·4

Jul 10, 4:05 PM ET

Deeter Byron B 4

Research Summary

AI-generated summary

Updated

ServiceTitan (TTAN) 10% Owner Byron Deeter Sells Shares

What Happened

  • Deeter Byron B (reported as a 10% owner; a partner at Bessemer Venture Partners) reported sales of ServiceTitan (TTAN) Class A common stock executed by affiliated Bessemer funds. The Form 4 shows the reporting person with 0 direct disposals because the trades were made by the funds in which he has an indirect, passive economic interest.
  • On July 8, 2026 the Bessemer funds sold a combined 45,809 shares at a weighted average price of $78.24 (price range $78.00–$79.00), generating roughly $3.58M. On July 9, 2026 they sold a combined 94,180 shares at a weighted average price of $79.17 (price range $78.72–$79.58), generating roughly $7.46M. Total across both days: ~139,989 shares for ≈ $11.04M.

Key Details

  • Transaction types: Open-market sales (Code S) on July 8 and July 9, 2026.
  • Prices and ranges: July 8 weighted avg $78.24 (range $78.00–$79.00); July 9 weighted avg $79.17 (range $78.72–$79.58).
  • Shares sold (by fund): July 8 — BVP VIII 20,302; BVP VIII Inst 24,416; 15 Angels II 1,091. July 9 — BVP VIII 41,739; BVP VIII Inst 50,198; 15 Angels II 2,243.
  • Shares owned after trades (per filing): BVP VIII — 1,891,979; BVP VIII Inst — 2,275,368; 15 Angels II — 101,542.
  • Reporting person’s interest: Deeter is a partner at Bessemer and disclaims direct beneficial ownership of the fund securities except for any pecuniary interest (Footnote F2).
  • Related awards noted: the filing also lists RSU awards (3,046 RSUs vesting 9/15/2027 and 1,891 RSUs vesting 9/15/2026) and an assignment of rights to Deer Management Co. LLC (F4–F6).
  • Filing timeliness: Form filed 7/10/2026 for transactions on 7/8 and 7/9 — appears timely (filed within the standard Form 4 reporting window).

Context

  • These were institutional open-market sales by venture funds affiliated with the reporting person, not direct sales by an executive. Such secondary sales often represent fund liquidity or portfolio management rather than a personal view of the company’s outlook. The Bessemer funds still hold significant stakes in ServiceTitan after these trades.