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

Role
HEAD OF FINANCE AND ADMIN.
Signature
/s/ Winnie Ling, Attorney-in-fact
Issuer symbol
BLND
Transactions as of
20 Feb 2025
Net transactions value
-$238,742
Form type
4
Filing time
21 Feb 2025, 18:57:26 UTC
Previous filing
23 Dec 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 +125,000 +15% 934,623 20 Feb 2025 Direct F1
transaction BLND Class A Common Stock Options Exercise +37,500 +4% 972,123 20 Feb 2025 Direct F1
transaction BLND Class A Common Stock Tax liability $238,742 -59,835 -6.2% $3.99 912,288 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 -125,000 -11% $0.000000 1,000,000 20 Feb 2025 Class A Common Stock 125,000 Direct F1, F3
transaction BLND Restricted Stock Units Options Exercise $0 -37,500 -33% $0.000000 75,000 20 Feb 2025 Class A Common Stock 37,500 Direct F1, F4
* 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 25% of the RSUs vested on February 20, 2024 and the remaining RSUs will vest in equal quarterly increments over a three year period, subject to the Reporting Person continuing to be a Service Provider through each such date.
F4 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.