Brian Kneafsey - 20 Dec 2024 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: Head of Revenue
Signature: /s/ Frewoini Kidanemariam, Attorney-in-fact
Issuer symbol: BLND
Transactions as of: 20 Dec 2024
Net transactions value: -$238,196
Form type: 4
Filing time: 23 Dec 2024, 19:00:08 UTC
Previous filing: 18 Dec 2024
Next filing: 27 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	$0	+100,000	+11%	$0.000000	1,007,439	20 Dec 2024	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	$238,196	-50,680	-5%	$4.70	956,759	20 Dec 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	Performance-based Restricted Stock Units	Options Exercise	$0	-100,000	-25%	$0.000000	300,000	20 Dec 2024	Class A Common Stock	100,000		Direct	F1, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reported transaction represents shares earned pursuant to a Performance-based Restricted Stock Unit ("PSU") award that vested on December 19, 2024. The performance achievement was certified by the Issuer's Compensation Committee on December 20, 2024.
F2	Shares were withheld to cover tax obligations in connection with the vesting of PSUs.
F3	Each PSU represents a contingent right to receive one share of BLND Class A Common Stock.
F4	The PSUs are eligible to vest in four (4) equal tranches based on the Company's stock price performance over a five year performance period, subject to the Reporting Person continuing to be a Service Provider through each such date.