Amir Jafari - 20 Feb 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF FINANCE AND ADMIN.
Signature
/s/ Winnie Ling, Attorney-in-fact
Issuer symbol
BLND
Transactions as of
20 Feb 2024
Transactions value $
-$707,463
Form type
4
Filing time
22 Feb 2024, 16:16:35 UTC
Previous filing
15 Feb 2024
Next filing
14 Mar 2024
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Options Exercise +500,000 +613% 581,610 20 Feb 2024 Direct F1
transaction BLND Class A Common Stock Options Exercise +37,500 +6.4% 619,110 20 Feb 2024 Direct F1
transaction BLND Class A Common Stock Tax liability -$707,463 -228,214 -37% $3.1 390,896 20 Feb 2024 Direct F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction BLND Restricted Stock Units Options Exercise $0 -500,000 -25% $0 1,500,000 20 Feb 2024 Class A Common Stock 500,000 Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -37,500 -14% $0 225,000 20 Feb 2024 Class A Common Stock 37,500 Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.
F2 Shares were withheld to cover tax obligations in connection with the vesting of RSUs.
F3 25% of the RSUs vested on February 20, 2024 and the remaining RSUs will vest in equal quarterly increments over a three year period, subject to the Reporting Person continuing to be a Service Provider through each such date.
F4 The RSUs will vest in equal quarterly increments over a two year period, subject to the Reporting Person continuing to be a Service Provider through each such date.