Large owner Iconiq Strategic Partners V, L.P. sold $10,000,104 worth of shares (90,917 units at $109.99) (SEC Form 4)

7/11/25 4:15:08 PM ET

$TTAN

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SEC FORM 4 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).

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^*

ICONIQ Strategic Partners V, L.P.

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
07/09/2025

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

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

	Form filed by One Reporting Person
X	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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	07/09/2025		S		73	D	$108.0019⁽¹⁾	522,397	D⁽²⁾⁽³⁾
Class A Common Stock	07/09/2025		S		97	D	$108.0019⁽¹⁾	700,591	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners V-B, L.P.
Class A Common Stock	07/09/2025		S		24,954	D	$109.8468⁽⁴⁾	497,443	D⁽²⁾⁽³⁾
Class A Common Stock	07/09/2025		S		33,454	D	$109.8468⁽⁴⁾	667,137	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners V-B, L.P.
Class A Common Stock	07/09/2025		S		13,808	D	$110.2635⁽⁵⁾	483,635	D⁽²⁾⁽³⁾
Class A Common Stock	07/09/2025		S		18,531	D	$110.2635⁽⁵⁾	648,606	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners V-B, L.P.
Class A Common Stock								3,962,276	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners II-B, L.P.
Class A Common Stock								3,101,848	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners II-B, L.P.
Class A Common Stock								1,632,104	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners II Co-Invest, L.P. (ST Series)
Class A Common Stock								666,240	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners II Co-Invest, L.P. (ST-2 Series)
Class A Common Stock								809,216	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners III, L.P.
Class A Common Stock								864,653	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners III-B, L.P.
Class A Common Stock								247,163	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners V Co-Invest, L.P. (Series ST)
Class A Common Stock								111,891	I⁽²⁾⁽³⁾	By ICONIQ Strategic Partners V Co-Invest, L.P. (Series ST2)
Class A Common Stock								261,823	I⁽⁶⁾	By Divesh Makan
Class A Common Stock								80,907	I⁽⁷⁾	By Matthew Jacobson

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

1. Name and Address of Reporting Person^*

ICONIQ Strategic Partners V, L.P.

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

ICONIQ Strategic Partners V-B, L.P.

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

ICONIQ Strategic Partners V GP, L.P.

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

ICONIQ Strategic Partners V TT GP, Ltd.

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Makan Divesh

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Jacobson Matthew

(Last)

(First)

(Middle)

C/O ICONIQ CAPITAL

50 BEALE ST., STE. 2300

(Street)

SAN FRANCISCO

94105

(City)

(State)

(Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $108.00 to $108.03. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

2. ICONIQ Strategic Partners II GP, L.P. ("ICONIQ II GP") is the sole general partner of ICONIQ Strategic Partners II, L.P. ("ICONIQ II"), ICONIQ Strategic Partners II-B, L.P. ("ICONIQ II-B"), ICONIQ Strategic Partners II Co-Invest, L.P. (ST Series) ("ICONIQ II ST") and ICONIQ Strategic Partners II Co-Invest, L.P. (ST-2 Series) ("ICONIQ II ST2"). ICONIQ Strategic Partners II TT GP, Ltd. ("ICONIQ II Parent GP") is the sole general partner of ICONIQ II GP. ICONIQ Strategic Partners III GP, L.P. ("ICONIQ III GP") is the sole general partner of ICONIQ Strategic Partners III, L.P. ("ICONIQ III") and ICONIQ Strategic Partners III-B, L.P. ("ICONIQ III-B"). ICONIQ Strategic Partners III TT GP, Ltd. ("ICONIQ III Parent GP") is the sole general partner of ICONIQ III GP. ICONIQ Strategic Partners V GP, L.P. ("ICONIQ V GP") is the sole general partner of ICONIQ Strategic Partners V, L.P. ("ICONIQ V"), ICONIQ Strategic Partners V-B, L.P. ("ICONIQ V-B"), ICONIQ Strategic Partners

3. (continued) V Co-Invest, L.P. (Series ST) ("ICONIQ V ST") and ICONIQ Strategic Partners V Co-Invest, L.P. (Series ST2) ("ICONIQ V ST2"). ICONIQ Strategic Partners V TT GP, Ltd. ("ICONIQ V Parent GP") is the sole general partner of ICONIQ V GP. Divesh Makan and William J.G. Griffith are the sole equity holders of ICONIQ II Parent GP and ICONIQ III Parent GP and Messrs. Makan, Griffith and Matthew Jacobson are the sole equity holders of ICONIQ V Parent GP. Each of ICONIQ II GP, ICONIQ II Parent GP, ICONIQ III GP, ICONIQ III Parent GP, ICONIQ V GP, ICONIQ V Parent GP and Messrs. Makan, Griffith and Jacobson disclaims beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act, except to the extent of its or his pecuniary interest therein, if any. This report shall not be deemed an admission that any of the Reporting Persons is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

4. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $109.00 to $109.995. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

5. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $110.00 to $110.54. Full information regarding the number of shares sold at each separate price can be furnished to the SEC staff upon request.

6. The shares are held by Makan through his family trust of which he is a trustee and another estate planning trust having an independent trustee. Makan disclaims beneficial ownership of the shares held by such trusts for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Makan is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

7. The shares are held by Jacobson through a trust of which he is a trustee. Jacobson disclaims beneficial ownership of the shares held by such trust for purposes of Section 16 of the Exchange Act, except to the extent of his pecuniary interest therein, if any. This report shall not be deemed an admission that Jacobson is a beneficial owner of such securities for the purpose of Section 16 of the Exchange Act, or for any other purpose.

	ICONIQ Strategic Partners V, L.P., By: ICONIQ Strategic Partners V GP, L.P., By: ICONIQ Strategic Partners V TT GP, Ltd., By: Kevin Foster, Title: Head of Strategy, /s/ Kevin Foster	07/11/2025
	ICONIQ Strategic Partners V-B, L.P., By: ICONIQ Strategic Partners V GP, L.P., By: ICONIQ Strategic Partners V TT GP, Ltd., By: Kevin Foster, Title: Head of Strategy, /s/ Kevin Foster	07/11/2025
	ICONIQ Strategic Partners V GP, L.P., By: ICONIQ Strategic Partners V TT GP, Ltd., By: Kevin Foster, Title: Head of Strategy, /s/ Kevin Foster	07/11/2025
	ICONIQ Strategic Partners V TT GP, Ltd., By: Kevin Foster, Title: Head of Strategy, /s/ Kevin Foster	07/11/2025
	/s/ Divesh Makan	07/11/2025
	/s/ Matthew Jacobson	07/11/2025
	** 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.

Get the next $TTAN alert in real time by email

Recent Analyst Ratings for

$TTAN

Date	Price Target	Rating	Analyst
3/5/2026	$125.00 → $108.00	Outperform	BMO Capital Markets
1/20/2026	$131.00	Equal-Weight → Overweight	Morgan Stanley
1/13/2026	$117.00	Neutral	Goldman
12/17/2025	$13.00	Buy	BTIG Research
12/5/2025	$115.00 → $125.00	Outperform	BMO Capital Markets
11/20/2025	$129.00 → $115.00	Outperform	BMO Capital Markets
8/29/2025		Mkt Perform	Raymond James
8/28/2025	$129.00	Outperform	BMO Capital Markets

More analyst ratings

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

Amount

(A) or (D)

Price

Class A Common Stock

07/09/2025

$108.0019⁽¹⁾

522,397

D⁽²⁾⁽³⁾

Class A Common Stock

07/09/2025

$108.0019⁽¹⁾

700,591

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners V-B, L.P.

Class A Common Stock

07/09/2025

24,954

$109.8468⁽⁴⁾

497,443

D⁽²⁾⁽³⁾

Class A Common Stock

07/09/2025

33,454

$109.8468⁽⁴⁾

667,137

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners V-B, L.P.

Class A Common Stock

07/09/2025

13,808

$110.2635⁽⁵⁾

483,635

D⁽²⁾⁽³⁾

Class A Common Stock

07/09/2025

18,531

$110.2635⁽⁵⁾

648,606

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners V-B, L.P.

Class A Common Stock

3,962,276

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners II-B, L.P.

Class A Common Stock

3,101,848

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners II-B, L.P.

Class A Common Stock

1,632,104

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners II Co-Invest, L.P. (ST Series)

Class A Common Stock

666,240

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners II Co-Invest, L.P. (ST-2 Series)

Class A Common Stock

809,216

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners III, L.P.

Class A Common Stock

864,653

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners III-B, L.P.

Class A Common Stock

247,163

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners V Co-Invest, L.P. (Series ST)

Class A Common Stock

111,891

I⁽²⁾⁽³⁾

By ICONIQ Strategic Partners V Co-Invest, L.P. (Series ST2)

Class A Common Stock

261,823

I⁽⁶⁾

By Divesh Makan

Class A Common Stock

80,907

I⁽⁷⁾

By Matthew Jacobson

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

(A)

(D)

Date Exercisable

Expiration Date

Title

Amount or Number of Shares

Recent Analyst Ratings for

$TTAN

Date	Price Target	Rating	Analyst
3/5/2026	$125.00 → $108.00	Outperform	BMO Capital Markets
1/20/2026	$131.00	Equal-Weight → Overweight	Morgan Stanley
1/13/2026	$117.00	Neutral	Goldman
12/17/2025	$13.00	Buy	BTIG Research
12/5/2025	$115.00 → $125.00	Outperform	BMO Capital Markets
11/20/2025	$129.00 → $115.00	Outperform	BMO Capital Markets
8/29/2025		Mkt Perform	Raymond James
8/28/2025	$129.00	Outperform	BMO Capital Markets

More analyst ratings

Large owner Iconiq Strategic Partners V, L.P. sold $10,000,104 worth of shares (90,917 units at $109.99) (SEC Form 4)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$TTAN

Large owner Iconiq Strategic Partners V, L.P. sold $10,000,104 worth of shares (90,917 units at $109.99) (SEC Form 4)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for
$TTAN

$TTAN
Analyst Ratings

BMO Capital Markets reiterated coverage on ServiceTitan with a new price target

ServiceTitan upgraded by Morgan Stanley with a new price target

Goldman resumed coverage on ServiceTitan with a new price target

$TTAN
Insider Trading

$TTAN
Press Releases

$TTAN
SEC Filings

Chief Financial Officer Sherry David sold $88,853 worth of shares (978 units at $90.85), decreasing direct ownership by 0.29% to 330,803 units (SEC Form 4)

Chief Executive Officer Mahdessian Ara converted options into 64,000 shares and sold $6,111,680 worth of shares (64,000 units at $95.49) (SEC Form 4)

President Kuzoyan Vahe converted options into 32,776 shares and sold $3,283,402 worth of shares (32,776 units at $100.18) (SEC Form 4)

ServiceTitan to Announce Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results on March 12, 2026

ServiceTitan Report Finds 75% of Roofing and Exteriors Contractors Expect Revenue Growth in 2026 Despite Tighter Margins

Southern Home Services Leading AI Adoption in the Trades By Harnessing the Power of ServiceTitan to Unlock Automation and Fuel Growth

Amendment: SEC Form SCHEDULE 13G/A filed by ServiceTitan Inc.

ServiceTitan Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

SEC Form 10-Q filed by ServiceTitan Inc.

$TTAN
Financials

ServiceTitan to Announce Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results on March 12, 2026

ServiceTitan to Announce Fiscal Third Quarter 2026 Financial Results on December 4, 2025

ServiceTitan to Announce Fiscal Second Quarter 2026 Financial Results on September 4, 2025

Large owner Iconiq Strategic Partners V, L.P. sold $10,000,104 worth of shares (90,917 units at $109.99) (SEC Form 4)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for $TTAN

Large owner Iconiq Strategic Partners V, L.P. sold $10,000,104 worth of shares (90,917 units at $109.99) (SEC Form 4)

Crush Q1 2026 with the Best AI Superconnector

Recent Analyst Ratings for $TTAN

$TTAN Analyst Ratings

BMO Capital Markets reiterated coverage on ServiceTitan with a new price target

ServiceTitan upgraded by Morgan Stanley with a new price target

Goldman resumed coverage on ServiceTitan with a new price target

$TTAN Insider Trading

$TTAN Press Releases

$TTAN SEC Filings

Chief Financial Officer Sherry David sold $88,853 worth of shares (978 units at $90.85), decreasing direct ownership by 0.29% to 330,803 units (SEC Form 4)

Chief Executive Officer Mahdessian Ara converted options into 64,000 shares and sold $6,111,680 worth of shares (64,000 units at $95.49) (SEC Form 4)

President Kuzoyan Vahe converted options into 32,776 shares and sold $3,283,402 worth of shares (32,776 units at $100.18) (SEC Form 4)

ServiceTitan to Announce Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results on March 12, 2026

ServiceTitan Report Finds 75% of Roofing and Exteriors Contractors Expect Revenue Growth in 2026 Despite Tighter Margins

Southern Home Services Leading AI Adoption in the Trades By Harnessing the Power of ServiceTitan to Unlock Automation and Fuel Growth

Amendment: SEC Form SCHEDULE 13G/A filed by ServiceTitan Inc.

ServiceTitan Inc. filed SEC Form 8-K: Entry into a Material Definitive Agreement, Creation of a Direct Financial Obligation

SEC Form 10-Q filed by ServiceTitan Inc.

$TTAN Financials

ServiceTitan to Announce Fiscal Fourth Quarter and Full Year Fiscal 2026 Financial Results on March 12, 2026

ServiceTitan to Announce Fiscal Third Quarter 2026 Financial Results on December 4, 2025

ServiceTitan to Announce Fiscal Second Quarter 2026 Financial Results on September 4, 2025

Recent Analyst Ratings for
$TTAN

Recent Analyst Ratings for
$TTAN

$TTAN
Analyst Ratings

$TTAN
Insider Trading

$TTAN
Press Releases

$TTAN
SEC Filings

$TTAN
Financials