Ravi Mhatre - 20 Jul 2021 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
10%+ Owner
Signature
/s/ Ravi Mhatre
Issuer symbol
BLND
Transactions as of
20 Jul 2021
Net transactions value
$0
Form type
4
Filing time
22 Jul 2021, 17:44:18 UTC
Previous filing
15 Jul 2021
Next filing
08 Dec 2021
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Conversion of derivative security $0 +16,335,022 +1508% $0.000000 17,418,355 20 Jul 2021 By Lightspeed Venture Partners IX, L.P F1
transaction BLND Class A Common Stock Conversion of derivative security $0 +4,554,845 +305% $0.000000 6,047,382 20 Jul 2021 By Lightspeed Venture Partners Select, L.P. F2
transaction BLND Class A Common Stock Conversion of derivative security $0 +2,261,500 $0.000000 2,261,500 20 Jul 2021 By Lightspeed Venture Partners Select III, L.P. 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
transaction BLND Class B Common Stock Conversion of derivative security $0 -463,061 -100% $0.000000* 0 20 Jul 2021 Class A Common Stock 463,061 By Lightspeed Venture Partners IX, L.P F1, F4
transaction BLND Series A Preferred Stock Conversion of derivative security $0 -7,606,645 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 7,606,645 By Lightspeed Venture Partners IX, L.P F1, F5
transaction BLND Series B Preferred Stock Conversion of derivative security $0 -3,856,742 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 3,856,742 By Lightspeed Venture Partners IX, L.P F1, F5
transaction BLND Series B-1 Preferred Stock Conversion of derivative security $0 -2,724,414 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 2,724,414 By Lightspeed Venture Partners IX, L.P F1, F5
transaction BLND Series D Preferred Stock Conversion of derivative security $0 -1,684,160 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 1,684,160 By Lightspeed Venture Partners IX, L.P F1, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 +15,871,961 $0.000000 15,871,961 20 Jul 2021 Class A Common Stock 15,871,961 By Lightspeed Venture Partners IX, L.P F1, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 -15,871,961 -100% $0.000000* 0 20 Jul 2021 Class A Common Stock 15,871,961 By Lightspeed Venture Partners IX, L.P F1, F4
transaction BLND Series C Preferred Stock Conversion of derivative security $0 -2,870,685 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 2,870,685 By Lightspeed Venture Partners Select, L.P. F2, F5
transaction BLND Series D Preferred Stock Conversion of derivative security $0 -1,684,160 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 1,684,160 By Lightspeed Venture Partners Select, L.P. F2, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 +4,554,845 $0.000000 4,554,845 20 Jul 2021 Class A Common Stock 4,554,845 By Lightspeed Venture Partners Select, L.P. F2, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 -4,554,845 -100% $0.000000* 0 20 Jul 2021 Class A Common Stock 4,554,845 By Lightspeed Venture Partners Select, L.P. F2, F4
transaction BLND Series E Preferred Stock Conversion of derivative security $0 -2,261,500 -100% $0.000000* 0 20 Jul 2021 Class B Common Stock 2,261,500 By Lightspeed Venture Partners Select III, L.P. F3, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 +2,261,500 $0.000000 2,261,500 20 Jul 2021 Class A Common Stock 2,261,500 By Lightspeed Venture Partners Select III, L.P. F3, F5
transaction BLND Class B Common Stock Conversion of derivative security $0 -2,261,500 -100% $0.000000* 0 20 Jul 2021 Class A Common Stock 2,261,500 By Lightspeed Venture Partners Select III, L.P. F3, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 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.
F2 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.
F3 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.
F4 Each share of Class B Common Stock was converted into one share of Class A Common Stock immediately prior to the completion of the Issuer's initial public offering of Class A Common Stock.
F5 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 was first converted into one share of Class B Common Stock followed by a subsequent conversion into Class A Common Stock prior to the completion of the Issuer's initial public offering of Class A Common Stock.