Roger W. Ferguson Jr. - 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, 07:19 PM
Previous filing: Jul 9, 2021
Next filing: Oct 1, 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	Stock Option (right to buy)							Jul 15, 2021	Class A Common Stock	34,965	$8.58	Direct	F1, F2

Explanation of Responses:

Id	Content
F1	1/12th of the shares subject to this option vest monthly following March 31, 2021, 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.
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.

Content

1/12th of the shares subject to this option vest monthly following March 31, 2021, 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.

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.

Remarks:

Exhibit 24 - Power of Attorney