Nima Ghamsari - 20 Feb 2025 Form 4 Insider Report for Blend Labs, Inc. (BLND)

Role: HEAD OF BLEND, Director
Signature: /s/ Winnie Ling, Attorney-in-fact
Issuer symbol: BLND
Transactions as of: 20 Feb 2025
Net transactions value: -$454,102
Form type: 4
Filing time: 21 Feb 2025, 18:56:30 UTC
Previous filing: 22 Nov 2024
Next filing: 14 Mar 2025
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		+375,000	+6.8%		5,876,498	20 Feb 2025	Direct	F1
transaction	BLND	Class A Common Stock	Tax liability	$454,102	-113,810	-1.9%	$3.99	5,762,688	20 Feb 2025	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	Restricted Stock Units	Options Exercise	$0	-375,000	-9.1%	$0.000000	3,750,000	20 Feb 2025	Class A Common Stock	375,000		Direct	F1, F3

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

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 RSUs will vest in equal quarterly increments over a four year period, subject to the Reporting Person continuing to be a Service Provider through each such date.