Winnie Ling - Sep 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: Sep 20, 2023
Transactions value $: -$2,454
Form type: 4
Date filed: 9/22/2023, 04:25 PM
Previous filing: Aug 25, 2023
Next filing: Nov 22, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLND	Class A Common Stock	Options Exercise		+5.63K	+5.42%		109K	Sep 20, 2023	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	-$2.45K	-2.03K	-1.85%	$1.21	107K	Sep 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	-5.63K	-20%	$0.00	22.5K	Sep 20, 2023	Class A Common Stock	5.63K		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.