Marc S. Greenberg - Jul 15, 2021 Form 3 Insider Report for Blend Labs, Inc. (BLND)

Role
Head of Finance
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, 07:21 PM
Next filing
Jan 4, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BLND Class A Common Stock 505K Jul 15, 2021 See footnote F1, F2

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 843K $0.87 Direct F1, F3
holding BLND Stock Option (right to buy) Jul 15, 2021 Class A Common Stock 200K $8.58 Direct F1, F4
* 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 Shares are held of record by the Greenberg Family Living Trust, dated June 22, 2013, of which the Reporting Person is a trustee.
F3 1/4th of the shares subject to this option vested on September 4, 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.
F4 1/24th of the shares subject to this option vest monthly following October 4, 2022, 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