Winnie Ling - May 20, 2023 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
Head of Legal
Signature
/s/ Winnie Ling
Stock symbol
BLND
Transactions as of
May 20, 2023
Transactions value $
-$12,831
Form type
4
Date filed
5/23/2023, 04:30 PM
Previous filing
May 5, 2023
Next filing
Jun 22, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Options Exercise +13.6K +26.86% 64.3K May 20, 2023 Direct F1
transaction BLND Class A Common Stock Options Exercise +25K +38.86% 89.3K May 20, 2023 Direct F1
transaction BLND Class A Common Stock Tax liability -$12.8K -13.8K -15.46% $0.93 75.5K May 20, 2023 Direct 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 Restricted Stock Units Options Exercise $0 -13.6K -50% $0.00 13.6K May 20, 2023 Class A Common Stock 13.6K Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -25K -12.5% $0.00 175K May 20, 2023 Class A Common Stock 25K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.
F2 Shares were withheld to cover tax obligations in connection with the vesting of RSUs.
F3 The RSUs vest in equal quarterly increments over a one year period, subject to the Reporting Person continuing to be a Service Provider through each such date.
F4 The RSUs vest in equal quarterly increments over a two year period, subject to the Reporting Person continuing to be a Service Provider through each such date.