TTAN Insider Kuzoyan Converts Class B and Nets $5.6M in Share Sales

Rhea-AI Filing Summary

ServiceTitan (TTAN) Form 4 filing: President & Director Vahe Kuzoyan converted and sold Class A shares on 4-5 Aug 2025 under a Rule 10b5-1 plan dated 15 Apr 2025.

• Conversions: 24,598 shares on 8/4 and 24,582 shares on 8/5, reflecting 1-for-1 optional conversion of Class B into Class A at $0 cost.
• Disposals: All 49,180 converted shares were immediately sold—24,598 at a $114.46 avg on 8/4 and 24,582 at a $112.02 avg on 8/5 (price range $110.88-$115.18).
• Direct holdings: Declined from 49,180 to 0 Class A shares post-sale.
• Residual exposure: Kuzoyan still controls ≈3.56 m Class B shares directly and ≈6.96 m additional shares through GRATs, a family trust and spouse, all convertible 1:1 to Class A.

The activity represents a pre-planned liquidity event rather than new equity issuance. Sales equal <2 % of his total beneficial stake and are unlikely to alter company fundamentals but may signal near-term insider supply.

Positive

• None.

Negative

• President Kuzoyan sold 49,180 shares for ≈$5.6 million, eliminating his direct Class A position, which some investors may view as bearish insider sentiment.

Insights

Securities Analyst

TL;DR – Pre-scheduled insider sale; negligible impact on long-term ownership.

Kuzoyan liquidated 49 k shares (~$5.6 m) converted from Class B, reducing direct Class A holdings to zero. However, he retains >10 m economic votes through high-vote Class B and trusts, preserving strategic control. Volume sold is modest versus daily trading and represents <2 % of his stake, limiting market impact. Because the trades were executed under a 10b5-1 plan, signalling risk is muted, yet persistent insider selling could weigh on sentiment if it continues.

Corporate Governance Expert

TL;DR – Governance neutral; voting power unchanged despite share class switch.

The conversion of super-voting Class B into single-vote Class A marginally dilutes Kuzoyan’s voting influence, but the quantity (≈49 k) is immaterial relative to the ~10 m Class B he still controls. The filing reaffirms dual-class mechanics—automatic conversion on transfer—without raising new governance red flags. Because the sales were Rule 10b5-1 and disclosed promptly, compliance risk remains low.

Insider Trade Summary

Net Seller: 49,180 shares ($5,569,163)

Net Sell 16 txns

Insider Kuzoyan Vahe

Role President

Sold 49,180 shs ($5.57M)

Type	Security	Shares	Price	Value
Conversion	Class B Common Stock	24,582	$0.00	--
Conversion	Class A Common Stock	24,582	$0.00	--
Sale	Class A Common Stock	12,126	$112.02	$1.36M
Sale	Class A Common Stock	8,120	$112.02	$910K
Sale	Class A Common Stock	4,332	$112.02	$485K
Sale	Class A Common Stock	4	$112.02	$448.08
Conversion	Class B Common Stock	24,598	$0.00	--
Conversion	Class A Common Stock	24,598	$0.00	--
Sale	Class A Common Stock	21,971	$114.46	$2.51M
Sale	Class A Common Stock	2,627	$114.46	$301K
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	--	--	--

Holdings After Transaction: Class B Common Stock — 3,558,549 shares (Direct); Class A Common Stock — 24,582 shares (Direct); Class B Common Stock — 354,924 shares (Indirect, By RA 2023 GRAT)

Footnotes (1)

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 $113.80 to $114.79. 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 $114.80 to $115.18. 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 $110.88 to $111.87. 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 $111.88 to $112.87. 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 $112.88 to $113.87. 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 $113.88 to $114.08. 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.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

X

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Kuzoyan Vahe

(Last) (First) (Middle)

C/O SERVICETITAN, INC.

800 N. BRAND BLVD., SUITE 100

(Street)

GLENDALE CA 91203

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
ServiceTitan, Inc. [ TTAN ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President

3. Date of Earliest Transaction (Month/Day/Year)
08/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	08/04/2025		C(1)		24,598	A	$0	24,598	D
Class A Common Stock	08/04/2025		S(2)		21,971	D	$114.46(3)	2,627	D
Class A Common Stock	08/04/2025		S(2)		2,627	D	$114.46(4)	0	D
Class A Common Stock	08/05/2025		C(1)		24,582	A	$0	24,582	D
Class A Common Stock	08/05/2025		S(2)		12,126	D	$112.02(5)	12,456	D
Class A Common Stock	08/05/2025		S(2)		8,120	D	$112.02(6)	4,336	D
Class A Common Stock	08/05/2025		S(2)		4,332	D	$112.02(7)	4	D
Class A Common Stock	08/05/2025		S(2)		4	D	$112.02(8)	0	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Class B Common Stock	(9)	08/04/2025		C			24,598	(9)	(9)	Class A Common Stock	24,598	$0	3,583,131	D
Class B Common Stock	(9)	08/05/2025		C			24,582	(9)	(9)	Class A Common Stock	24,582	$0	3,558,549	D
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	354,924		354,924	I	By RA 2023 GRAT
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	371,082		371,082	I	By RA 2024 GRAT
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	1		1	I	By spouse
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	5,513,065		5,513,065	I	By the K-A Family Trust dated December 6, 2021
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	371,082		371,082	I	By VK 2024 GRAT
Class B Common Stock	(9)							(9)	(9)	Class A Common Stock	354,924		354,924	I	By VK 2023 GRAT

Explanation of Responses:

1. Represents the conversion of Class B Common Stock into Class A Common Stock held of record by the Reporting Person.

2. The sales reported on this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted on April 15, 2025.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.80 to $114.79. 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.

4. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $114.80 to $115.18. 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.

5. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $110.88 to $111.87. 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.

6. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $111.88 to $112.87. 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.

7. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $112.88 to $113.87. 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.

8. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $113.88 to $114.08. 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.

9. 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.

	/s/ Olive Huang, Attorney-in-Fact	08/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many ServiceTitan (TTAN) shares did Vahe Kuzoyan sell?

He sold 49,180 Class A shares over 4–5 Aug 2025.

At what prices were the TTAN shares sold?

Weighted average prices were $114.46 on 8/4 and $112.02 on 8/5, within $110.88–$115.18 ranges.

Was the insider sale pre-planned?

Yes. All transactions were executed under a Rule 10b5-1 plan adopted 15 Apr 2025.

Does Kuzoyan still own TTAN shares after the sale?

Indirectly, yes. He retains about 3.56 m Class B shares directly and roughly 6.96 m additional shares via trusts and spouse.

Did the transactions affect ServiceTitan’s share count?

No. Conversions were 1-for-1 between share classes; total outstanding shares were unchanged.