Mahdessian Ara 4

What Happened

• Ara Mahdessian, CEO of ServiceTitan (TTAN), converted 2,289 shares of Class B common stock into Class A common stock and sold an equivalent 2,289 shares on March 18, 2026. The sales were reported as sell-to-cover transactions to satisfy tax withholding on vested restricted stock units, not discretionary trades.
• The reported weighted-average sale price was $69.86 per share, with individual trades executed across a range of $68.33 to $74.16. Total reported proceeds from the sales were about $159,875.

Key Details

• Transaction date: 2026-03-18 (Form 4 filed 2026-03-19 — appears timely).
• Actions reported: conversion of Class B to Class A (code C) and multiple open-market sales (code S) as sell-to-cover (tax withholding — F2).
• Prices: weighted average $69.86; reported individual trade price ranges $68.33–$74.16 (see footnotes F3–F8 for per-block ranges).
• Shares converted: 2,289 Class B → 2,289 Class A (F1, F9). Shares sold: ~2,289 (sum of listed sales).
• Shares owned after transaction: Form 4 does not state total post-transaction holdings; the conversion changed share class but not the reported number of shares beneficially owned.
• Footnotes of note: F2 indicates sales were mandated sell-to-cover for tax withholding (non-discretionary). F1/F9 explain Class B → Class A conversion rights. F3–F8 detail price ranges for the multiple sale blocks.

Context

• These were tax-withholding “sell-to-cover” sales tied to RSU vesting rather than open-market, discretionary sell-offs; such transactions generally do not signal insider sentiment. The derivative entry reflects conversion of share class rather than an option exercise or new acquisition.