Timothy J. Mayopoulos - 15 Jul 2021 Form 3 Insider Report for Blend Labs, Inc. (BLND)

Role
President, Director
Signature
/s/ Crystal Sumner, Attorney-in-fact
Issuer symbol
BLND
Transactions as of
15 Jul 2021
Net transactions value
$0
Form type
3
Filing time
15 Jul 2021, 19:16:33 UTC
Previous filing
03 Jun 2021
Next filing
28 Sep 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BLND Class A Common Stock 357,518 15 Jul 2021 Direct F1

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
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 2,922,480 $1.29 Direct F1, F2
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 666,666 $8.58 Direct F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Immediately prior to the completion of the Issuer's initial public offering of Class A Common Stock, each share of Class A Common Stock as currently named will be reclassified into one share of Class B Common Stock and each share of Class B Common Stock as currently named will be reclassified into one share of Class A Common Stock. This Form 3 assumes all shares have been renamed as if such reclassification has already occurred.
F2 1/4th of the shares subject to this option vested on January 18, 2020, and 1/48th of the shares vest monthly thereafter, subject to the Reporting Person's continued role as a service provider to the Issuer. This option is subject to an early exercise provision and is immediately exercisable.
F3 1/24th of the shares subject to this option vest monthly following February 18, 2023, subject to the Reporting Person's continued role as a service provider to the Issuer. This option is subject to an early exercise provision and is immediately exercisable.

Remarks:

Exhibit 24 - Power of Attorney