Winnie Ling - Aug 23, 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 23, 2023
Transactions value $
$0
Form type
4
Date filed
8/25/2023, 04:32 PM
Previous filing
Aug 21, 2023
Next filing
Sep 22, 2023

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 Award $0 +400K $0.00 400K Aug 23, 2023 Class A Common Stock 400K Direct F1, F2
transaction BLND Performance-based Restricted Stock Units Award $0 +800K $0.00 800K Aug 23, 2023 Class A Common Stock 800K Direct F3, 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 The RSUs will 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.
F3 Each Performance-based Restricted Stock Unit ("PSU") represents a contingent right to receive one share of BLND Class A Common Stock.
F4 The PSUs are eligible to vest in four (4) equal tranches based on the Company's stock price performance over a five year performance period, subject to the Reporting Person continuing to be a Service Provider through each such date.