Winnie Ling - 20 Nov 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role
HEAD OF LEGAL AND PEOPLE
Signature
/s/ Winnie Ling
Issuer symbol
BLND
Transactions as of
20 Nov 2024
Net transactions value
-$215,635
Form type
4
Filing time
22 Nov 2024, 16:30:22 UTC
Previous filing
15 Nov 2024
Next filing
12 Dec 2024
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 +25,000 +11% 259,169 20 Nov 2024 Direct F1
transaction BLND Class A Common Stock Options Exercise +50,000 +19% 309,169 20 Nov 2024 Direct F1
transaction BLND Class A Common Stock Tax liability $190,291 -38,288 -12% $4.97 270,881 20 Nov 2024 Direct F2
transaction BLND Class A Common Stock Sale $25,344 -5,000 -1.8% $5.07 265,881 21 Nov 2024 Direct F3, F4

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 -25,000 -50% $0.000000 25,000 20 Nov 2024 Class A Common Stock 25,000 Direct F1, F5
transaction BLND Restricted Stock Units Options Exercise $0 -50,000 -25% $0.000000 150,000 20 Nov 2024 Class A Common Stock 50,000 Direct F1, F5
* 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 sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on June 7, 2024.
F4 This sale price represents the weighted average sale price of the shares sold ranging from $4.94 to $5.13 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.
F5 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.