Dean Klinger - 06 Sep 2023 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: Head of Go-To-Market
Signature: /s/ Winnie Ling, Attorney-in-fact
Issuer symbol: BLND
Transactions as of: 06 Sep 2023
Net transactions value: -$42,004
Form type: 4
Filing time: 07 Sep 2023, 18:26:23 UTC
Previous filing: 05 May 2023
Next filing: 12 Oct 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		+150,000			150,000	06 Sep 2023	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	$42,004	-36,525	-24%	$1.15	113,475	06 Sep 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	-150,000	-25%	$0.000000	450,000	06 Sep 2023	Class A Common Stock	150,000		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	1/4th of the RSUs vested on September 6, 2023, and the remaining RSUs will vest in equal quarterly increments over a three year period, subject to the Reporting Person continuing to be a Service Provider through each such date.