Srinivasan Venkatramani - Jan 29, 2025 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
Head of Product Tech & Cust Op
Signature
/s/ Winnie Ling, Attorney-in-fact
Stock symbol
BLND
Transactions as of
Jan 29, 2025
Transactions value $
$0
Form type
4
Date filed
1/31/2025, 05:06 PM
Previous filing
Jan 3, 2025
SEC
View on sec.gov

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 Award $0 +1.3M $0.00 1.3M Jan 29, 2025 Class A Common Stock 1.3M Direct F1, F2
transaction BLND Performance-based Restricted Stock Units Award $0 +1.3M $0.00 1.3M Jan 29, 2025 Class A Common Stock 1.3M Direct F3, 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 1/4th of the RSUs will vest on February 20, 2026, and the remaining RSUs will vest in equal quarterly increments over the following three year period, subject to the Reporting Person continuing to be a Service Provider through each such date.
F3 Each Performance-based Restricted Stock Unit ("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 performance period commencing on the grant date and ending December 31, 2029, subject to the Reporting Person continuing to be a Service Provider through each such date.