Winnie Ling - 20 May 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF LEGAL AND PEOPLE
Signature
/s/ Winnie Ling
Issuer symbol
BLND
Transactions as of
20 May 2024
Net transactions value
-$85,440
Form type
4
Filing time
22 May 2024, 16:15:20 UTC
Previous filing
21 Mar 2024
Next filing
21 Jun 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 +25,000 +12% 233,531 20 May 2024 Direct F1
transaction BLND Class A Common Stock Options Exercise +50,000 +21% 283,531 20 May 2024 Direct F1
transaction BLND Class A Common Stock Tax liability $85,440 -27,038 -9.5% $3.16 256,493 20 May 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 -25,000 -25% $0.000000 75,000 20 May 2024 Class A Common Stock 25,000 Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -50,000 -17% $0.000000 250,000 20 May 2024 Class A Common Stock 50,000 Direct F1, F3
* 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 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.