Winnie Ling - Mar 13, 2025 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF LEGAL AND PEOPLE
Signature
/s/ Winnie Ling
Stock symbol
BLND
Transactions as of
Mar 13, 2025
Transactions value $
$0
Form type
4
Date filed
3/14/2025, 04:15 PM
Previous filing
Feb 21, 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 Performance-based Restricted Stock Units Disposed to Issuer -600K -100% 0 Mar 13, 2025 Class A Common Stock 600K Direct F1, F2, F3
transaction BLND Performance-based Restricted Stock Units Award $0 +800K $0.00 800K Mar 13, 2025 Class A Common Stock 800K Direct F1, F4
transaction BLND Restricted Stock Units Award $0 +250K $0.00 250K Mar 13, 2025 Class A Common Stock 250K Direct F5, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Performance-based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of BLND Class A Common Stock.
F2 The PSUs were 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.
F3 On March 13, 2025, the Issuer canceled 600,000 PSUs granted to the Reporting Person on August 23, 2023. In exchange, the Reporting Person received 800,000 replacement PSUs.
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.
F5 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.
F6 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.