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

Role: 10%+ Owner
Signature: /s/ Ravi Mhatre
Stock symbol: BLND
Transactions as of: Jul 15, 2021
Transactions value $: $0
Form type: 3
Date filed: 7/15/2021, 07:24 PM
Next filing: Jul 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	BLND	Class A Common Stock						1.08M	Jul 15, 2021	By Lightspeed Venture Partners IX, L.P	F1, F2
holding	BLND	Class A Common Stock						1.49M	Jul 15, 2021	By Lightspeed Venture Partners Select, L.P.	F1, F3

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	Class B Common Stock							Jul 15, 2021	Class A Common Stock	463K		By Lightspeed Venture Partners IX, L.P	F1, F2
holding	BLND	Series A Preferred Stock							Jul 15, 2021	Class B Common Stock	7.61M		By Lightspeed Venture Partners IX, L.P	F1, F2, F4
holding	BLND	Series B Preferred Stock							Jul 15, 2021	Class B Common Stock	3.86M		By Lightspeed Venture Partners IX, L.P	F1, F2, F4
holding	BLND	Series B-1 Preferred Stock							Jul 15, 2021	Class B Common Stock	2.72M		By Lightspeed Venture Partners IX, L.P	F1, F2, F4
holding	BLND	Series D Preferred Stock							Jul 15, 2021	Class B Common Stock	1.68M		By Lightspeed Venture Partners IX, L.P	F1, F2, F4
holding	BLND	Series C Preferred Stock							Jul 15, 2021	Class B Common Stock	2.87M		By Lightspeed Venture Partners Select, L.P.	F1, F3, F4
holding	BLND	Series D Preferred Stock							Jul 15, 2021	Class B Common Stock	1.68M		By Lightspeed Venture Partners Select, L.P.	F1, F3, F4
holding	BLND	Series E Preferred Stock							Jul 15, 2021	Class B Common Stock	2.26M		By Lightspeed Venture Partners Select III, L.P.	F1, F4, 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	Shares are held by Lightspeed Venture Partners IX, L.P ("Lightspeed IX"). Lightspeed General Partner IX, L.P. ("LGP IX"), is the general partner of Lightspeed IX. Lightspeed Ultimate General Partner IX, Ltd. ("LUGP IX") is the general partner of LGP IX. Barry Eggers, Ravi Mhatre, and Peter Nieh are the directors of LUGP IX and share voting and dispositive power with respect to the shares held by Lightspeed IX. Messrs. Eggers, Mhatre, and Nieh disclaim beneficial ownership of the shares held by Lightspeed IX except to the extent of their respective pecuniary interests therein.
F3	Shares are held by Lightspeed Venture Partners Select, L.P. ("Lightspeed Select"). Lightspeed General Partner Select, L.P. ("LGP Select") is the general partner of Lightspeed Select. Lightspeed Ultimate General Partner Select, Ltd. ("LUGP Select") is the general partner of LGP Select. Barry Eggers, Jeremy Liew, Ravi Mhatre and Peter Nieh are the directors of LUGP Select and share voting and dispositive power with respect to the shares held by Lightspeed Select. LGP Select, LUGP Select and Messrs. Eggers, Liew, Mhatre and Nieh disclaim beneficial ownership of the shares held by Lightspeed Select, except to the extent of their respective pecuniary interests therein.
F4	Each share of Series A Preferred Stock, Series B Preferred Stock. Series B-1 Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E 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.
F5	Shares are held by Lightspeed Venture Partners Select III, L.P. ("Lightspeed Select III"). Lightspeed Ultimate General Partner Select III, Ltd ("LUGP Select III") is the general partner of Lightspeed Select III. Barry Eggers, Jeremy Liew, Ravi Mhatre, and Peter Nieh are the directors of LUGP Select III and share voting and dispositive power with respect to the shares held by Lightspeed Select III. LUGP Select III and Messrs. Eggers, Liew, Mhatre and Nieh disclaim beneficial ownership of the shares held by Lightspeed Select III, except to the extent of their respective pecuniary interests therein.