Gerald C. Chen - Jul 15, 2021 Form 3 Insider Report for Blend Labs, Inc. (BLND)

Role
Director
Signature
/s/ Crystal Sumner, Attorney-in-fact
Stock symbol
BLND
Transactions as of
Jul 15, 2021
Transactions value $
$0
Form type
3
Date filed
7/15/2021, 07:17 PM
Next filing
Jul 22, 2021

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 Series D Preferred Stock Jul 15, 2021 Class B Common Stock 8.83M See footnote F1, F2, F3, F4
holding BLND Series E Preferred Stock Jul 15, 2021 Class B Common Stock 189K See footnote F1, F2, F3, F4
holding BLND Series F Preferred Stock Jul 15, 2021 Class B Common Stock 12.2K See footnote F1, F2, F3, F4
holding BLND Series D Preferred Stock Jul 15, 2021 Class B Common Stock 491K See footnote F1, F2, F4, F5
holding BLND Series E Preferred Stock Jul 15, 2021 Class B Common Stock 10.5K See footnote F1, F2, F4, F5
holding BLND Series F Preferred Stock Jul 15, 2021 Class B Common Stock 679 See footnote F1, F2, F4, F5
holding BLND Series D Preferred Stock Jul 15, 2021 Class B Common Stock 491K See footnote F1, F2, F4, F6
holding BLND Series E Preferred Stock Jul 15, 2021 Class B Common Stock 10.5K See footnote F1, F2, F4, F6
holding BLND Series F Preferred Stock Jul 15, 2021 Class B Common Stock 679 See footnote F1, F2, F4, F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each share of Series D Preferred Stock, Series E Preferred Stock and Series F Preferred Stock will convert into Class A Common Stock immediately prior to the completion of the Issuer's initial public offering of Class A Common Stock and has no expiration date.
F2 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.
F3 Shares are held of record by Greylock 15 Limited Partnership ("Greylock 15").
F4 Greylock 15 GP LLC ("Greylock LLC") is the general partner of each of Greylock 15, Greylock 15 Principals Limited Partnership ("Greylock Principals"), and Greylock 15-A Limited Partnership ("Greylock 15-A"). The Reporting Person disclaims beneficial ownership of all securities other than those he owns directly, if any, or by virtue of his indirect pro rata interest, as a managing member of Greylock LLC, in the Class A common stock owned by Greylock 15, Greylock Principals, and/or Greylock 15-A.
F5 Shares are held of record by Greylock Principals.
F6 Shares are held of record by Greylock 15-A.

Remarks:

Exhibit 24 - Power of Attorney