Nima Ghamsari - Apr 28, 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
Apr 28, 2023
Transactions value $
-$140,308
Form type
4
Date filed
5/2/2023, 06:18 PM
Previous filing
Mar 31, 2023
Next filing
Jun 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 +230,770 $0.00 230,770 Apr 28, 2023 Direct
transaction BLND Class A Common Stock -Sell -$140,308 -230,770 -100% $0.61 0 Apr 28, 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 -230,770 -2.3% $0.00 9,820,581 Apr 28, 2023 Class A Common Stock 230,770 Direct F3, F4, F5

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 $0.5801 to $0.6615 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 April 28, 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.