Crystal Sumner - Jul 15, 2021 Form 3 Insider Report for Blend Labs, Inc. (BLND)

Role
Head of Legal, Compliance,Risk
Signature
/s/ Crystal Sumner
Stock symbol
BLND
Transactions as of
Jul 15, 2021
Transactions value $
$0
Form type
3
Date filed
7/15/2021, 07:22 PM
Next filing
Sep 27, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
holding BLND Class A Common Stock 396K Jul 15, 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) Jul 15, 2021 Class A Common Stock 27.3K $0.54 Direct F1, F2
holding BLND Stock Option (right to buy) Jul 15, 2021 Class A Common Stock 160K $0.87 Direct F1, F2
holding BLND Stock Option (right to buy) Jul 15, 2021 Class A Common Stock 333K $2.31 Direct F1, F3
holding BLND Stock Option (right to buy) Jul 15, 2021 Class A Common Stock 200K $8.58 Direct F1, F4
holding BLND Stock Option (right to buy) Jul 15, 2021 Class A Common Stock 15K $8.58 Direct F1, F5
* 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 The shares subject to this option are fully vested and immediately exercisable.
F3 1/48th of the shares subject to this option vest monthly following January 1, 2020, 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 February 1, 2024, 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.
F5 The shares subject to this option will be fully vested and exercisable on January 1. 2023. This option is subject to an early exercise provision and is immediately exercisable.

Remarks:

Exhibit 24 - Power of Attorney