Tim Cabral
About Tim Cabral
Tim Cabral, age 57, has served as an independent director of ServiceTitan (TTAN) since November 2019 and as Lead Independent Director since November 2024. He is the former CFO of Veeva Systems (2010–2020), later advisor (2020–2022) and interim CFO (Apr–Sep 2024), with prior finance/ops leadership roles at Modus Group (CFO/COO, 2008–2010), Agistics (CFO & VP Ops, 2005–2007), and PeopleSoft. He holds a B.S. in Finance and an MBA from Santa Clara University .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Veeva Systems Inc. | Chief Financial Officer; Advisor; Interim CFO | CFO Feb 2010–Sep 2020; Advisor Sep 2020–Jan 2022; Interim CFO Apr–Sep 2024 | — |
| Modus Group, LLC | Chief Financial Officer & Chief Operations Officer | Feb 2008–Feb 2010 | — |
| Agistics, Inc. | Chief Financial Officer & VP Operations | Mar 2005–Jun 2007 | — |
| PeopleSoft, Inc. | Finance leadership roles | Prior to 2005 | — |
External Roles
| Organization | Role | Public/Private | Tenure | Committees/Notes |
|---|---|---|---|---|
| Veeva Systems Inc. | Director | Public | Since Jan 2022 | — |
| Doximity, Inc. | Director | Public | Since Sep 2020 | — |
| SingleStore, Inc. | Director | Private | Since Mar 2021 | — |
| Apttus Corporation (prior) | Director | Private (acquired) | Oct 2017–Oct 2018 | Acquired by Thoma Bravo |
Board Governance
- Status and leadership: Independent director; Lead Independent Director since Nov 2024. As LID, he presides over non-chair sessions, approves board agendas/schedules, and acts as liaison between independent directors and the CEO/Chair .
- Committee assignments: Audit Committee Chair; members include Michael Brown and Ilya Golubovich. Cabral is designated the board’s “audit committee financial expert.” The audit committee held 8 meetings in FY2025 .
- Independence: Board determined all directors except the CEO (Ara Mahdessian) and President (Vahe Kuzoyan) are independent under Nasdaq rules; audit and compensation committees meet enhanced independence standards .
- Attendance: The board met 6 times in FY2025; each director attended at least 75% of board and applicable committee meetings except William Hsu (Cabral met ≥75%) .
- Risk and oversight scope: Audit Committee oversees financial reporting, related party transaction review, and cybersecurity risk oversight, receiving regular updates from the CISO/CTO .
- Compensation governance context: Compensation Committee retains Compensia as independent advisor; administers compensation recovery (clawback) policy as required by SEC/Nasdaq .
Fixed Compensation (Non-Employee Director Pay)
| Component | Amount | Notes |
|---|---|---|
| Annual Board retainer (cash) | $35,000 | Paid quarterly in arrears; prorated for partial quarters |
| Lead Independent Director retainer (cash) | $20,000 | Additional to board retainer |
| Audit Committee Chair fee (cash) | $20,000 | Members: $10,000 |
| Compensation Committee Chair fee (cash) | $15,000 | Members: $7,500 |
| Nominating & Gov. Committee Chair fee (cash) | $8,000 | Members: $4,000 |
| FY2025 Director Compensation (Tim Cabral) | Amount ($) |
|---|---|
| Fees earned or paid in cash | 10,394 |
| Stock awards (grant-date fair value) | 185,995 |
| Option awards | — |
| Total | 196,389 |
All retainers are pro-rated; FY2025 cash reflects timing post-IPO and role changes .
Performance Compensation (Equity Awards to Directors)
| Award Type | Grant Date | Shares/Value | Vesting/Performance Conditions | Notes |
|---|---|---|---|---|
| RSU (Cabral) | Apr 11, 2024 | 2,957 RSUs; $185,995 FV | Vests in full on first anniversary of grant, subject to continued service through (i) the anniversary and (ii) two weeks following IPO lock-up expiration; time-based (no performance metric) | Granted under pre-IPO informal director equity approach |
| Initial RSU (new director, program) | Upon initial appointment/election | $400,000 value RSU | Vests in equal quarterly installments over 4 years from first Mar/Jun/Sep/Dec 15 following grant; time-based | Program term (not necessarily granted to Cabral in FY2025) |
| Annual RSU (incumbent director, program) | At annual meeting | $200,000 value RSU | Fully vests on first anniversary on nearest Mar/Jun/Sep/Dec 15 date; time-based | Program term |
No director performance metrics (e.g., revenue, TSR) are disclosed for director equity; awards are time-based RSUs under the Director Compensation Program .
Other Directorships & Interlocks
| Company | Overlap/Relevance to TTAN | Potential Interlock/Conflict Indication |
|---|---|---|
| Veeva Systems (Director) | No TTAN-related transactions disclosed in “Certain Relationships and Related Party Transactions” section | None disclosed for Cabral; audit committee reviews related-party transactions |
| Doximity (Director) | No TTAN-related transactions disclosed in the proxy’s related-party section | None disclosed for Cabral |
| SingleStore (Director) | Private company; no TTAN-related transactions disclosed | None disclosed for Cabral |
The proxy discloses a related-party commercial relationship with Dialpad linked to a significant shareholder (ICONIQ) and director Griffith, not Cabral; ~$4.3M in payments through Mar 31, 2025 .
Expertise & Qualifications
- Capital markets and SaaS operating finance: Former CFO of Veeva; extensive finance and operations leadership across multiple tech companies .
- Audit committee financial expert: Formally designated by the board; satisfies SEC/Nasdaq financial literacy and sophistication standards .
- Governance leadership: Lead Independent Director with agenda-setting and executive session leadership responsibilities .
- Education: B.S. Finance; MBA, Santa Clara University .
Equity Ownership
| Holder | Class A Shares | % Class A | Class B Shares | % Class B | Notes |
|---|---|---|---|---|---|
| Tim Cabral (beneficial) | 77,385 | * | — | — | Consists of 9,885 Class A shares and 67,500 options exercisable within 60 days of Mar 31, 2025 |
| Shares outstanding reference | 77,226,513 (Class A) | — | 13,404,097 (Class B) | — | As of Mar 31, 2025 |
- Outstanding equity (director awards) at FY-end: Options 67,500; RSUs 2,957 (as of Jan 31, 2025) .
- Hedging/pledging: Company policy prohibits hedging and pledging by directors, officers, and employees; also prohibits margin purchases or placing shares in margin accounts .
Governance Assessment
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Strengths
- Lead Independent Director and Audit Chair with “audit committee financial expert” designation—enhances financial oversight and independence signal .
- Strong board independence (majority independent; committees meet enhanced independence standards) and active audit oversight including cybersecurity risk .
- Director compensation mix is primarily equity-based (FY2025: $185,995 stock awards vs. $10,394 cash), aligning incentives with shareholders; retainers structured and disclosed, with clear vesting terms .
-
Watch items
- Multiple external public board commitments (Veeva, Doximity) and one private board (SingleStore) require ongoing monitoring for time commitment; no related-party transactions disclosed involving Cabral .
- Related-party transaction governance is key given significant investor affiliations (e.g., ICONIQ/Dialpad payments); audit committee (chaired by Cabral) is tasked with reviewing such transactions—effective oversight should be tracked over time .
- Attendance: While Cabral met the ≥75% threshold, overall board effectiveness should continue to monitor director engagement, given one director fell below that threshold in FY2025 .
-
Policies supporting investor alignment
- Anti-hedging and anti-pledging policy across all insiders reduces misalignment risk and collateral-based liquidity risk .
- Compensation recovery (clawback) policy oversight by Compensation Committee aligns with regulatory requirements .
Overall, Cabral’s audit/accounting expertise, leadership as Lead Independent Director, and equity-heavy director pay support governance quality and investor alignment; ongoing vigilance is warranted around related-party oversight and external board time commitments .