ServiceTitan (TTAN) 10% Owner William Griffith Distributes 1.55M Shares

What Happened

• William J.G. Griffith (identified as a 10% owner) reported multiple "other disposition" (Code J) transactions on July 13, 2026 that together moved 1,551,099 Class A shares of ServiceTitan. These were not open-market sales — the shares were distributed pro rata from several ICONIQ funds to their partners for no consideration (no sale price or proceeds).
• Breakdown by source (all distributions on July 13, 2026): ICONIQ II 556,878; ICONIQ II‑B 435,948; ICONIQ II ST 229,384; ICONIQ II ST2 93,636; ICONIQ III 113,731; ICONIQ III‑B 121,522. The Form 4 lists no price (N/A) because the transfers were distributions, not cash sales.

Key Details

• Transaction date: July 13, 2026. Form filed: July 15, 2026 (timely).
• Transaction code: J (other acquisition/disposition — here, fund-to-partner distributions).
• Shares moved: 1,551,099 total; Sale price/proceeds: N/A (distributions for no consideration).
• Shares reported beneficially owned after the transactions: 510,022 (consists of 3,046 RSUs and 506,976 shares held in trusts, per the filing). The reporting person disclaims beneficial ownership except to the extent of any pecuniary interest.
• Footnotes: distributions were made under exemptions afforded by Rules 16a‑13 and 16a‑9 of the Exchange Act; the report disclaims that it should be viewed as admission of beneficial ownership.

Context

• These entries reflect fund/investor reallocation (ICONIQ funds distributing underlying shares to partners), not insider selling for cash. Such distributions are administrative and do not necessarily indicate the insider’s view of the stock.
• For retail investors, purchases are generally more informative than distributions; this filing documents a transfer of ownership within related investment entities rather than an open‑market transaction.