Blend Labs, Inc. — Director's Dealing 2021

Jul 16, 2021

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Blend Labs, Inc. (BLND)
CIK: 0001855747
Period of Report: 2021-07-15

Reporting Person: Greenberg Marc S. (Head of Finance)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	504941	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (right to buy)	$0.87	2028-09-09	Class A Common Stock (843391)		Direct
Stock Option (right to buy)	$8.58	2031-03-30	Class A Common Stock (200000)		Direct

Footnotes

F1: Immediately prior to the completion of the Issuer's initial public offering of Class A Common Stock, each share of Class A Common Stock as currently named will be reclassified into one share of Class B Common Stock and each share of Class B Common Stock as currently named will be reclassified into one share of Class A Common Stock. This Form 3 assumes all shares have been renamed as if such reclassification has already occurred.

F2: Shares are held of record by the Greenberg Family Living Trust, dated June 22, 2013, of which the Reporting Person is a trustee.

F3: 1/4th of the shares subject to this option vested on September 4, 2020, and 1/48th of the shares vest monthly thereafter, subject to the Reporting Person's continued role as a service provider to the Issuer. This option is subject to an early exercise provision and is immediately exercisable.

F4: 1/24th of the shares subject to this option vest monthly following October 4, 2022, subject to the Reporting Person's continued role as a service provider to the Issuer. This option is subject to an early exercise provision and is immediately exercisable.