ServiceTitan (TTAN) 10% Owner Byron Deeter Sells Shares

What Happened

• Byron Deeter, listed as a 10% owner (partner at Bessemer Venture Partners), reported sales of ServiceTitan (TTAN) Class A shares executed by Bessemer-affiliated funds on July 14 and July 15, 2026. The Form 4 itself shows 0 shares sold directly by Deeter because he disclaims beneficial ownership of the fund holdings; his report reflects an indirect, passive economic interest in those fund holdings.
• On July 14 the Bessemer funds sold a combined 100,000 shares (44,319 by BVP VIII; 53,300 by BVP VIII Inst; 2,381 by 15 Angels) at a weighted average price of $80.50 (prices ranged $80.16–$80.72) — roughly $8.05 million. On July 15 the same share breakdown was sold at a weighted average price of $79.49 (range $79.29–$79.63) — roughly $7.95 million. Total across both days ≈200,000 shares (~$16.0M).

Key Details

• Transaction type: S = Sale (open market sales by Bessemer funds; not direct sales by Deeter).
• Dates & prices:
  • 2026-07-14: 100,000 total shares sold; weighted avg $80.50; price range $80.16–$80.72.
  • 2026-07-15: 100,000 total shares sold; weighted avg $79.49; price range $79.29–$79.63.
• Shares held after trades (per filing): BVP VIII — 1,748,859; BVP VIII Inst — 2,103,245; 15 Angels — 93,853.
• RSU awards noted: 3,046 RSUs vesting 9/15/2027 and 1,891 RSUs vesting 9/15/2026; Deeter has agreed to assign rights to Deer Management Co. LLC.
• Beneficial ownership: Deeter is a partner at Bessemer and disclaims direct beneficial ownership of the funds’ securities except to the extent of any pecuniary interest (see footnote). The reported disposals were by the Bessemer Funds.
• Filing timeliness: Report filed 2026-07-16 for transactions dated 7/14–7/15 — not indicated as late in the filing.

Context

• This filing documents institutional fund sales by Bessemer-affiliated entities, not a personal open-market sale by Deeter. For retail investors, purchases by insiders can be more informative about sentiment; routine fund rebalancing or liquidity events by venture funds are common and do not necessarily reflect the individual partner’s trading intent.