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

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

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Ownership	Footnotes
transaction	BLND	Performance-based Restricted Stock Units	Disposed to Issuer		-600,000	-100%		0	13 Mar 2025	Class A Common Stock	600,000	Direct	F1, F2, F3
transaction	BLND	Performance-based Restricted Stock Units	Award	$0	+800,000		$0.000000	800,000	13 Mar 2025	Class A Common Stock	800,000	Direct	F1, F4
transaction	BLND	Restricted Stock Units	Award	$0	+250,000		$0.000000	250,000	13 Mar 2025	Class A Common Stock	250,000	Direct	F5, F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

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.