Nima Ghamsari - 08 Dec 2022 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
Head of Blend, Director
Signature
/s/ Crystal Sumner, Attorney-in-fact
Issuer symbol
BLND
Transactions as of
08 Dec 2022
Net transactions value
-$2,260,098
Form type
4
Filing time
12 Dec 2022, 17:54:03 UTC
Previous filing
02 Jun 2022
Next filing
31 Mar 2023
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 Other $0 +970,874 $0.000000 970,874 08 Dec 2022 Direct
transaction BLND Class A Common Stock Sale $1,077,670 -970,874 -100% $1.11 0 08 Dec 2022 Direct F1
transaction BLND Class A Common Stock Other $0 +175,772 $0.000000 175,772 09 Dec 2022 Direct
transaction BLND Class A Common Stock Sale $218,608 -175,772 -100% $1.24 0 09 Dec 2022 Direct F2
transaction BLND Class A Common Stock Other $0 +766,092 $0.000000 766,092 12 Dec 2022 Direct
transaction BLND Class A Common Stock Sale $963,820 -766,092 -100% $1.26 0 12 Dec 2022 Direct 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 Other $0 -970,874 -8% $0.000000 11,162,457 08 Dec 2022 Class A Common Stock 970,874 Direct F4, F5, F6
transaction BLND Class B Common Stock Other $0 -175,772 -1.6% $0.000000 10,986,685 09 Dec 2022 Class A Common Stock 175,772 Direct F4, F6, F7
transaction BLND Class B Common Stock Other $0 -766,092 -7% $0.000000 10,220,593 12 Dec 2022 Class A Common Stock 766,092 Direct F4, F6, F8
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This sale price represents the weighted average sale price of the shares sold ranging from $1.09 to $1.155 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $1.23 to $1.285 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F3 This sale price represents the weighted average sale price of the shares sold ranging from $1.25 to $1.3175 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F4 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.
F5 All the shares of Class B Common Stock were previously pledged as collateral to secure certain personal indebtedness of the Reporting Person under a loan. On December 8, 2022, the Reporting Person sold the shares and used the proceeds to reduce the outstanding amount under the loan. The Reporting Person will make further sales of shares from time to time and use the proceeds to further reduce the outstanding amount under the loan as required under the loan documentation.
F6 The shares of Class B Common Stock held of record by the Reporting Person are pledged as collateral to secure certain personal indebtedness of the Reporting Person.
F7 All the shares of Class B Common Stock were previously pledged as collateral to secure certain personal indebtedness of the Reporting Person under a loan. On December 9, 2022, the Reporting Person sold the shares and used the proceeds to reduce the outstanding amount under the loan. The Reporting Person will make further sales of shares from time to time and use the proceeds to further reduce the outstanding amount under the loan as required under the loan documentation.
F8 All the shares of Class B Common Stock were previously pledged as collateral to secure certain personal indebtedness of the Reporting Person under a loan. On December 12, 2022, the Reporting Person sold the shares and used the proceeds to reduce the outstanding amount under the loan. The Reporting Person will make further sales of shares from time to time and use the proceeds to further reduce the outstanding amount under the loan as required under the loan documentation.