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

Role
Head of Legal, Compliance,Risk
Signature
/s/ Crystal Sumner
Issuer symbol
BLND
Transactions as of
15 Jul 2021
Net transactions value
$0
Form type
3
Filing time
15 Jul 2021, 19:22:18 UTC
Next filing
27 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 396,346 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 27,289 $0.5400 Direct F1, F2
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 160,000 $0.8700 Direct F1, F2
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 333,333 $2.31 Direct F1, F3
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 200,000 $8.58 Direct F1, F4
holding BLND Stock Option (right to buy) 15 Jul 2021 Class A Common Stock 15,000 $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