Nima Ghamsari - Mar 29, 2023 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: Head of Blend, Director
Signature: /s/ Winnie Ling, Attorney-in-fact
Stock symbol: BLND
Transactions as of: Mar 29, 2023
Transactions value $: -$158,766
Form type: 4
Date filed: 3/31/2023, 04:07 PM
Previous filing: Dec 12, 2022
Next filing: May 2, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLND	Class A Common Stock	Other	$0	+169K		$0.00	169K	Mar 29, 2023	Direct
transaction	BLND	Class A Common Stock	Sale	-$159K	-169K	-100%	$0.94	0	Mar 29, 2023	Direct	F1, F2

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	-169K	-1.66%	$0.00	10.1M	Mar 29, 2023	Class A Common Stock	169K		Direct	F3, F4, F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on December 14, 2022.
F2	This sale price represents the weighted average sale price of the shares sold ranging from $0.85 to $1.005 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	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.
F4	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 March 29, 2023, the Reporting Person sold the shares pursuant to a Rule 10b5-1 trading plan 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.
F5	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.