TTAN director Vahe Kuzoyan converts 32,776 Class B to A and sells
Rhea-AI Filing Summary
Insider transactions by ServiceTitan director and president Vahe Kuzoyan show routine conversion and systematic sales under a 10b5-1 plan. On 10/08/2025 and 10/09/2025 he converted 16,388 shares of Class B into Class A on each date, and sold the converted shares across multiple trades. The sales totaled 32,776 Class A shares executed at weighted-average prices in ranges near $99.95 to $101.90.
Following the reported transactions the filing shows direct beneficial ownership of 16,388.25 Class A shares and material indirect holdings through trusts totaling 5,513,065 Class A-equivalent shares held by the K-A Family Trust, plus additional grantor trusts and spouse holdings. The sales were made pursuant to a Rule 10b5-1 plan adopted on April 15, 2025.
Positive
- Sales were executed under a 10b5-1 trading plan, providing pre-scheduled structure and an affirmative defense
- Reporting person retains substantial indirect holdings (over 5.5M Class A-equivalent shares via the K-A Family Trust)
Negative
- Insider sold a total of 32,776 Class A shares, which may be viewed unfavorably by some investors despite being preplanned
- Weighted-average sale prices span multiple ranges, indicating execution across many transactions which could reflect variable liquidity
Insights
Transactions reflect planned liquidity by an insider while retaining substantial indirect ownership.
The reporting person executed conversions of Class B into Class A and sold the converted shares under a 10b5-1 plan adopted on 04/15/2025, which provides an affirmative defense for scheduled trades. The filing shows systematic sales on 10/08/2025 and 10/09/2025 totaling 32,776 Class A shares at weighted-average prices around $99.95–$100.74.
Governance implications are that these are routine, preplanned dispositions rather than ad hoc insider sales; however, investors often watch timing relative to company announcements. Monitor any subsequent Form 4s for changes to the plan or additional scheduled sales in the near term.
Sales are modest relative to reported indirect holdings and unlikely to materially affect float.
The filing lists large indirect holdings—over 5.5M Class A-equivalent shares via the K-A Family Trust—so the 32,776 shares sold represent a small fraction of total beneficial holdings. Sale prices spanned subranges near $98.97 to $101.90 across the reported trades, disclosed as weighted averages per footnotes.
From a market-impact perspective, these dispositions appear staggered across multiple executions and were executed under a 10b5-1 plan, reducing concerns about one-off supply shocks. Watch short-term volume and any disclosures updating the 10b5-1 schedule over the next weeks.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Conversion | Class B Common Stock | 16,388 | $0.00 | -- |
| Conversion | Class A Common Stock | 16,388 | $0.00 | -- |
| Sale | Class A Common Stock | 3,607 | $100.74 | $363K |
| Sale | Class A Common Stock | 3,168 | $100.74 | $319K |
| Sale | Class A Common Stock | 9,613 | $100.74 | $968K |
| Conversion | Class B Common Stock | 16,388 | $0.00 | -- |
| Conversion | Class A Common Stock | 16,388 | $0.00 | -- |
| Sale | Class A Common Stock | 6,700 | $99.95 | $670K |
| Sale | Class A Common Stock | 9,663 | $99.95 | $966K |
| Sale | Class A Common Stock | 25 | $99.95 | $2K |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on April 15, 2025. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.97 to $99.96. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.97 to $100.96. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.97 to $101.03. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $98.94 to $99.93. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $99.94 to $100.93. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $100.94 to $101.90. The Reporting Person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The Class B common stock is convertible into an equal number of shares of Class A common stock at any time, at the holder's election. Each share of Class B Common Stock will convert automatically into one share of Class A Common Stock upon any transfer, whether or not for value, except for certain permitted transfers, or upon the occurrence of certain specified events, in each case as set forth in the Issuer's Amended and Restated Certificate of Incorporation.
