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

Role
Head of Legal
Signature
/s/ Winnie Ling
Issuer symbol
BLND
Transactions as of
20 May 2023
Net transactions value
-$12,831
Form type
4
Filing time
23 May 2023, 16:30:40 UTC
Previous filing
05 May 2023
Next filing
22 Jun 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 Options Exercise +13,621 +27% 64,341 20 May 2023 Direct F1
transaction BLND Class A Common Stock Options Exercise +25,000 +39% 89,341 20 May 2023 Direct F1
transaction BLND Class A Common Stock Tax liability $12,831 -13,812 -15% $0.9290 75,529 20 May 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 -13,621 -50% $0.000000 13,622 20 May 2023 Class A Common Stock 13,621 Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -25,000 -12% $0.000000 175,000 20 May 2023 Class A Common Stock 25,000 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.