Amir Jafari - Feb 20, 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF FINANCE AND ADMIN.
Signature
/s/ Winnie Ling, Attorney-in-fact
Stock symbol
BLND
Transactions as of
Feb 20, 2024
Transactions value $
-$707,463
Form type
4
Date filed
2/22/2024, 04:16 PM
Previous filing
Feb 15, 2024
Next filing
Mar 14, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Options Exercise +500K +612.67% 582K Feb 20, 2024 Direct F1
transaction BLND Class A Common Stock Options Exercise +37.5K +6.45% 619K Feb 20, 2024 Direct F1
transaction BLND Class A Common Stock Tax liability -$707K -228K -36.86% $3.10 391K Feb 20, 2024 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 -500K -25% $0.00 1.5M Feb 20, 2024 Class A Common Stock 500K Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -37.5K -14.29% $0.00 225K Feb 20, 2024 Class A Common Stock 37.5K 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 25% of the RSUs vested on February 20, 2024 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.
F4 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.