ServiceTitan (TTAN) CEO Ara Mahdessian Sells Shares

What Happened

• Ara Mahdessian, CEO of ServiceTitan, converted 3,147.75 shares of Class B common stock into Class A common stock (conversion reported at $0) and the same 3,147.75 shares were sold in an open-market transaction on Sept 17, 2026 at $57.07 per share, generating proceeds of approximately $179,642. The filing shows the sale was used to satisfy tax withholding obligations (a "sell-to-cover"), not an independent discretionary sale.

Key Details

• Transaction date: 2026-09-17; Form 4 filed: 2026-09-21 (timely filed).
• Conversion: 3,147.75 shares converted from Class B to Class A (reported cost $0) — see footnotes F1 and F4 regarding convertibility.
• Sale: 3,147.75 shares sold at $57.07 per share; proceeds ≈ $179,642.
• Reason for sale: Sell-to-cover to satisfy tax withholding on vesting equity (footnote F2) — mandated under the issuer’s equity plan, not a discretionary trade.
• Other notes: Filing includes rounding of fractional shares (F3). Prior transfers to trusts and GRAT-related transfers are noted in footnotes F5–F7. Shares owned after the transactions are not specified in the excerpt provided; see the full Form 4 for post-transaction holdings.

Context

• This was a conversion of derivative holdings (Class B → Class A) followed immediately by a sell-to-cover; conversions at $0 reflect exchange of share classes rather than a cash purchase. Sell-to-cover transactions are routine tax-withholding transactions and do not necessarily indicate the insider’s view of the company’s prospects.