Nima Ghamsari - May 13, 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF BLEND, Director
Signature
/s/ Winnie Ling, Attorney-in-fact
Stock symbol
BLND
Transactions as of
May 13, 2024
Transactions value $
-$1,992,950
Form type
4
Date filed
5/15/2024, 04:45 PM
Previous filing
Apr 26, 2024
Next filing
Jun 3, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Other $0 +709K $0.00 709K May 13, 2024 Direct
transaction BLND Class A Common Stock Sale -$781K -282K -39.74% $2.77 427K May 13, 2024 Direct F1
transaction BLND Class A Common Stock Sale -$1.21M -427K -100% $2.84 0 May 14, 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 Class B Common Stock Other $0 -709K -7.89% $0.00 8.28M May 13, 2024 Class A Common Stock 709K Direct F3, F4, F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 This sale price represents the weighted average sale price of the shares sold ranging from $2.705 to $2.81 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F2 This sale price represents the weighted average sale price of the shares sold ranging from $2.765 to $2.915 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.
F3 Each share of Class B Common Stock is convertible at any time at the option of the holder into one share of Class A Common Stock and has no expiration date.
F4 All the shares of Class B Common Stock were previously pledged as collateral to secure certain personal indebtedness of the Reporting Person under a loan. On May 13, 2024 and May 14, 2024, the Reporting Person sold the shares and used the proceeds to reduce the outstanding amount under the loan. The Reporting Person will make further sales of shares from time to time and use the proceeds to further reduce the outstanding amount under the loan as required under the loan documentation.
F5 The shares of Class B Common Stock held of record by the Reporting Person are pledged as collateral to secure certain personal indebtedness of the Reporting Person.