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

Role: HEAD OF LEGAL AND PEOPLE
Signature: /s/ Frewoini Kidanemariam, Attorney-in-fact
Stock symbol: BLND
Transactions as of: Dec 20, 2024
Transactions value $: -$479,870
Form type: 4
Date filed: 12/23/2024, 07:00 PM
Previous filing: Dec 12, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	BLND	Class A Common Stock	Options Exercise	$0	+200K	+79.72%	$0.00	451K	Dec 20, 2024	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	-$480K	-102K	-22.64%	$4.70	349K	Dec 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	Performance-based Restricted Stock Units	Options Exercise	$0	-200K	-25%	$0.00	600K	Dec 20, 2024	Class A Common Stock	200K		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.