Oxana Tkach - Sep 20, 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
PRINCIPAL ACCOUNTING OFFICER
Signature
/s/ Winnie Ling, Attorney-in-fact
Stock symbol
BLND
Transactions as of
Sep 20, 2024
Transactions value $
-$24,644
Form type
4
Date filed
9/24/2024, 04:05 PM
Previous filing
Sep 3, 2024
Next filing
Nov 22, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction BLND Class A Common Stock Options Exercise +6.14K +6.93% 94.8K Sep 20, 2024 Direct F1
transaction BLND Class A Common Stock Tax liability -$7.52K -1.89K -1.99% $3.98 93K Sep 20, 2024 Direct F2
transaction BLND Class A Common Stock Sale -$17.1K -4.3K -4.63% $3.98 88.7K Sep 23, 2024 Direct F3

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 -6.14K -100% $0.00 0 Sep 20, 2024 Class A Common Stock 6.14K Direct F1, F4
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Buy Plan / Sale Plan: These are also open market purchases/sales of shares, but in this case the transaction is part of a trading plan. Rule 10b5-1 allows insiders to setup a trading plan to buy/sell stocks over a certain period of time. Since the purchases/sales are predetermined, this protects the insiders from violating insider trading law.

Transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).

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 sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on May 24, 2024.
F4 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.