Nima Ghamsari - Dec 8, 2022 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: Head of Blend, Director
Signature: /s/ Crystal Sumner, Attorney-in-fact
Stock symbol: BLND
Transactions as of: Dec 8, 2022
Transactions value $: -$2,260,098
Form type: 4
Date filed: 12/12/2022, 05:54 PM
Previous filing: Jun 2, 2022
Next filing: Mar 31, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLND	Class A Common Stock	Other	$0	+971K		$0.00	971K	Dec 8, 2022	Direct
transaction	BLND	Class A Common Stock	Sale	-$1.08M	-971K	-100%	$1.11	0	Dec 8, 2022	Direct	F1
transaction	BLND	Class A Common Stock	Other	$0	+176K		$0.00	176K	Dec 9, 2022	Direct
transaction	BLND	Class A Common Stock	Sale	-$219K	-176K	-100%	$1.24	0	Dec 9, 2022	Direct	F2
transaction	BLND	Class A Common Stock	Other	$0	+766K		$0.00	766K	Dec 12, 2022	Direct
transaction	BLND	Class A Common Stock	Sale	-$964K	-766K	-100%	$1.26	0	Dec 12, 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	-971K	-8%	$0.00	11.2M	Dec 8, 2022	Class A Common Stock	971K		Direct	F4, F5, F6
transaction	BLND	Class B Common Stock	Other	$0	-176K	-1.57%	$0.00	11M	Dec 9, 2022	Class A Common Stock	176K		Direct	F4, F6, F7
transaction	BLND	Class B Common Stock	Other	$0	-766K	-6.97%	$0.00	10.2M	Dec 12, 2022	Class A Common Stock	766K		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.