Winnie Ling - 20 Jun 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 Jun 2023
Net transactions value: -$2,000
Form type: 4
Filing time: 22 Jun 2023, 16:11:36 UTC
Previous filing: 23 May 2023
Next filing: 21 Aug 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		+5,625	+7.4%		81,154	20 Jun 2023	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	$2,000	-2,028	-2.5%	$0.9861	79,126	20 Jun 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	-5,625	-17%	$0.000000	28,125	20 Jun 2023	Class A Common Stock	5,625		Direct	F1, F3

* 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 an 18 month period, subject to the Reporting Person continuing to be a Service Provider through each such date.