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

Role
HEAD OF FINANCE AND ADMIN.
Signature
/s/ Frewoini Kidanemariam, Attorney-in-fact
Issuer symbol
BLND
Transactions as of
20 Dec 2024
Transactions value $
-$714,588
Form type
4
Filing time
23 Dec 2024, 19:00:10 UTC
Previous filing
22 Nov 2024
Next filing
21 Feb 2025
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 $0 +250,000 +37.78% $0 911,663 20 Dec 2024 Direct F1
transaction BLND Class A Common Stock Options Exercise $0 +50,000 +5.48% $0 961,663 20 Dec 2024 Direct F1
transaction BLND Class A Common Stock Tax liability -$714,588 -152,040 -15.81% $4.7 809,623 20 Dec 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 Performance-based Restricted Stock Units Options Exercise $0 -250,000 -25% $0 750,000 20 Dec 2024 Class A Common Stock 250,000 Direct F1, F3, F4
transaction BLND Performance-based Restricted Stock Units Options Exercise $0 -50,000 -25% $0 150,000 20 Dec 2024 Class A Common Stock 50,000 Direct F1, F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The reported transaction represents shares earned pursuant to a Performance-based Restricted Stock Unit ("PSU") award that vested on December 19, 2024. The performance achievement was certified by the Issuer's Compensation Committee on December 20, 2024.
F2 Shares were withheld to cover tax obligations in connection with the vesting of PSUs.
F3 Each PSU represents a contingent right to receive one share of BLND Class A Common Stock
F4 The PSUs are eligible to vest in four (4) equal tranches based on the Company's stock price performance over a five year performance period, subject to the Reporting Person continuing to be a Service Provider through each such date.