ServiceTitan (TTAN) director awarded 3,046 RSUs and reports 75,001 shares
Rhea-AI Filing Summary
BROWN MICHAEL MAURICE reported acquisition or exercise transactions in this Form 4 filing.
ServiceTitan, Inc. director Michael Maurice Brown reported an equity grant of 3,046 Class A Common Stock RSUs. The award was made under the company’s non-employee director compensation program at a stated price of $0.00 per share.
The RSUs vest in full on September 15, 2027, subject to his continued service on the board. Following this grant, Brown directly holds 75,001 shares of Class A Common Stock, with additional indirect holdings through various Battery Ventures funds and a trust where he may be deemed to share voting and dispositive power, subject to customary pecuniary-interest disclaimers.
Positive
- None.
Negative
- None.
Insider Trade Summary
Net Buyer: 3,046 shares
Net Buy
9 txns
Insider
BROWN MICHAEL MAURICE
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 3,046 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 75,001 shares (Direct);
Class A Common Stock — 20,472 shares (Indirect, By Trust);
Class A Common Stock — 20,371 shares (Indirect, By Battery Investment Partners Select Fund I, L.P.);
Class A Common Stock — 48,890 shares (Indirect, By Battery Investment Partners XI, LLC);
Class A Common Stock — 205,999 shares (Indirect, By Battery Ventures Select Fund I, L.P.);
Class A Common Stock — 1,096,393 shares (Indirect, By Battery Ventures XI-A Side Fund, L.P.);
Class A Common Stock — 1,055,305 shares (Indirect, By Battery Ventures XI-A, L.P.);
Class A Common Stock — 237,743 shares (Indirect, By Battery Ventures XI-B Side Fund, L.P.);
Class A Common Stock — 278,827 shares (Indirect, By Battery Ventures XI-B, L.P.)
Footnotes (12)
- F1. Represents an award of restricted stock units ("RSUs") granted pursuant to the Issuer's non-employee director compensation program. The RSUs will vest in full on September 15, 2027, subject to the Reporting Person's continued service on the Issuer's board of directors through such vesting date. Each RSU represents a contingent right to receive one share of the Issuer's Class A Common Stock.
- F2. The securities held by the Reporting Person prior to the transaction reported herein reflect the receipt of securities pursuant to pro rata distributions in kind, effected by each of Battery Partners XI, LLC ("BP XI") and Battery Partners XI Side Fund, LLC ("BP XI SF") to its members for no additional consideration, including the Reporting Person. The receipt of such securities by the Reporting Person constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.
- F3. The securities held by the Reporting Person prior to the transaction reported herein reflect the receipt of securities pursuant to a pro rata distribution in kind, effected by Battery Investment Partners XI, LLC ("BIP XI") to its members for no additional consideration, including the Reporting Person. The receipt of such securities by the Reporting Person constituted a change in form of ownership and, therefore, was not required to be reported pursuant to Section 16.
- F4. Securities are held by an irrevocable GST trust, of which the Reporting Person's spouse is a trustee. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his proportionate pecuniary interest therein.
- F5. The reported securities are held directly by Battery Investment Partners Select Fund I, L.P. ("BIP Select I"). The sole general partner of BIP Select I is Battery Partners Select Fund I GP, LLC ("BP Select I"). The Reporting Person is a managing member of BP Select I and may be deemed to share voting and dispositive power over the securities held by BP Select I. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F6. The securities reported give effect to a pro rata distribution in kind by the stockholder effected subsequent to the Reporting Person's most recent Section 16 filing, which constituted a change in form of the Reporting Person's ownership and, therefore, was not required to be reported pursuant to Section 16.
- F7. The reported securities are held directly by Battery Investment Partners XI, LLC ("BIP XI"). The sole managing member of BIP XI is Battery Partners XI, LLC ("BP XI"). The Reporting Person is a managing member of BP XI and may be deemed to share voting and dispositive power over the securities held by BP XI. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F8. The reported securities are held directly by Battery Ventures Select Fund I, L.P. ("BV Select I"). The sole general partner of BV Select I is Battery Partners Select Fund I, L.P. whose sole general partner is BP Select I. The Reporting Person is a managing member of BP Select I and may be deemed to share voting and dispositive power over the securities held by BP Select I. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F9. The reported securities are held directly by Battery Ventures XI-A Side Fund, L.P. ("BV XI-A SF"). The sole general partner of BV XI-A SF is Battery Partners XI Side Fund, LLC ("BP XI SF"). The Reporting Person is a managing member of BP XI SF and may be deemed to share voting and dispositive power over the securities held by BP XI SF. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F10. The reported securities are held directly by Battery Ventures XI-A, L.P. ("BV XI-A"). The sole general partner of BV XI-A is BP XI. The Reporting Person is a managing member of BP XI and may be deemed to share voting and dispositive power over the securities held by BP XI. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F11. The reported securities are held directly by Battery Ventures XI-B Side Fund, L.P. ("BV XI-B SF"). The sole general partner of BV XI-B SF is BP XI SF. The Reporting Person is a managing member of BP XI SF and may be deemed to share voting and dispositive power over the securities held by BP XI SF. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
- F12. The reported securities are held directly by Battery Ventures XI-B, L.P. ("BV XI-B"). The sole general partner of BV XI-B is BP XI. The Reporting Person is a managing member of BP XI and may be deemed to share voting and dispositive power over the securities held by BP XI. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein, and the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the reported securities for purposes of Section 16 or for any other purpose.
Key Figures
RSU grant size: 3,046 RSUs
RSU vesting date: September 15, 2027
Direct holdings after grant: 75,001 shares
+4 more
7 metrics
RSU grant size
3,046 RSUs
Award of restricted stock units under non-employee director program
RSU vesting date
September 15, 2027
Full vesting date subject to continued board service
Direct holdings after grant
75,001 shares
Class A Common Stock held directly after RSU award
BV XI-A indirect holdings
1,055,305 shares
Class A Common Stock held by Battery Ventures XI-A, L.P.
BV XI-A Side Fund holdings
1,096,393 shares
Class A Common Stock held by Battery Ventures XI-A Side Fund, L.P.
BV XI-B indirect holdings
278,827 shares
Class A Common Stock held by Battery Ventures XI-B, L.P.
Select Fund I indirect holdings
205,999 shares
Class A Common Stock held by Battery Ventures Select Fund I, L.P.
Key Terms
restricted stock units ("RSUs"), pro rata distribution in kind, irrevocable GST trust, pecuniary interest, +2 more
6 terms
restricted stock units ("RSUs") financial
"Represents an award of restricted stock units ("RSUs") granted pursuant to the Issuer's non-employee director compensation program."
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
pro rata distribution in kind financial
"receipt of securities pursuant to pro rata distributions in kind, effected by each of Battery Partners XI, LLC ("BP XI") and Battery Partners XI Side Fund, LLC ("BP XI SF")"
irrevocable GST trust financial
"Securities are held by an irrevocable GST trust, of which the Reporting Person's spouse is a trustee."
pecuniary interest financial
"The Reporting Person disclaims beneficial ownership of these securities except to the extent of his proportionate pecuniary interest therein."
voting and dispositive power financial
"may be deemed to share voting and dispositive power over the securities held by BP XI."
non-employee director compensation program financial
"granted pursuant to the Issuer's non-employee director compensation program."
FAQ
What did ServiceTitan (TTAN) director Michael Brown report in this Form 4?
Michael Maurice Brown reported receiving an award of 3,046 restricted stock units of ServiceTitan Class A Common Stock. The grant was made under the non-employee director compensation program with a stated price of $0.00 per share as part of his board compensation.
When do Michael Brown’s 3,046 ServiceTitan RSUs vest?
The 3,046 restricted stock units vest in full on September 15, 2027. Vesting is conditioned on Brown’s continued service on ServiceTitan’s board of directors through that date, meaning he must remain a director until then to receive the underlying shares.
What indirect ServiceTitan holdings are associated with Michael Brown?
Indirect holdings are reported through several Battery Ventures entities, such as Battery Ventures XI-A, L.P. and related side funds, plus an irrevocable GST trust. The footnotes state Brown may be deemed to share voting and dispositive power but disclaims beneficial ownership beyond his pecuniary interest.
Is Michael Brown’s ServiceTitan RSU grant an open-market purchase or sale?
The 3,046-unit transaction is a grant or award, not an open-market trade. It reflects stock-based compensation under the non-employee director program, with a transaction code of A, rather than a market purchase or sale initiated by Brown.
Why do the ServiceTitan Form 4 footnotes mention pro rata distributions in kind?
Footnotes explain that certain securities previously received by Brown came from pro rata in-kind distributions by Battery Partners and Battery Investment entities. These were changes in form of ownership, provided for no additional consideration, and were not required to be separately reported under Section 16.
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