Winnie Ling - Aug 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: Aug 20, 2023
Transactions value $: -$16,709
Form type: 4
Date filed: 8/21/2023, 04:32 PM
Previous filing: Jun 22, 2023
Next filing: Aug 25, 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	+17.22%		92.7K	Aug 20, 2023	Direct	F1
transaction	BLND	Class A Common Stock	Options Exercise		+25K	+26.95%		118K	Aug 20, 2023	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	-$16.7K	-13.9K	-11.83%	$1.20	104K	Aug 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	-100%	$0.00^*	0	Aug 20, 2023	Class A Common Stock	13.6K		Direct	F1, F3
transaction	BLND	Restricted Stock Units	Options Exercise	$0	-25K	-14.29%	$0.00	150K	Aug 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.