Nima Ghamsari - 20 Nov 2023 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: Head of Blend, Director
Signature: /s/ Winnie Ling, Attorney-in-fact
Issuer symbol: BLND
Transactions as of: 20 Nov 2023
Net transactions value: -$194,889
Form type: 4
Filing time: 22 Nov 2023, 18:05:10 UTC
Previous filing: 03 Oct 2023
Next filing: 01 Dec 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		+375,000			375,000	20 Nov 2023	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	$194,889	-154,674	-41%	$1.26	220,326	20 Nov 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	-375,000	-6.2%	$0.000000	5,625,000	20 Nov 2023	Class A Common Stock	375,000		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	The RSUs will vest in equal quarterly increments over a four year period, subject to the Reporting Person continuing to be a Service Provider through each such date.