[144] Blend Labs, Inc. SEC Filing

Rhea-AI Filing Summary

Blend Labs, Inc. (BLND) filed a Form 144 notice for the proposed sale of 4,000 shares of common stock. The sale is to be executed through Charles Schwab & Co., Inc. on the NYSE with an approximate sale date of 08/22/2025 and an aggregate market value reported at $14,000. The shares were acquired on 02/20/2025 by restricted stock lapse from Blend Labs, Inc., with payment described as equity compensation. The filing reports 255,696,747 shares outstanding.

The filing also discloses four sales by Winnie Ling in the past three months: 8,000 shares on 07/03/2025 for $28,000; 4,000 on 07/10/2025 for $14,160; 4,000 on 07/24/2025 for $14,360; and 4,000 on 08/07/2025 for $14,477. The filer certifies no undisclosed material adverse information.

Positive

• Compliance disclosure filed under Rule 144 with acquisition and broker details provided
• Acquisition method disclosed as restricted stock lapse and payment as equity compensation

Negative

• Recent insider selling activity: 20,000 shares sold by Winnie Ling in the prior three months totaling about $70,997 in gross proceeds

Insights

Financial Analyst

TL;DR: Proposed sale is small relative to total shares outstanding and follows multiple recent insider sales, suggesting limited market impact.

The 4,000-share notice ($14,000) represents a negligible fraction of the issuer's 255,696,747 outstanding shares, so direct dilution or market impact is immaterial. The shares were acquired via a restricted stock lapse and paid as equity compensation, which is common for employee-originated holdings. However, the filing sits alongside four recent sales by an insider (Winnie Ling) totaling 20,000 shares and roughly $70,997 in gross proceeds over ~5 weeks, which may be noted by investors monitoring insider dispositions. Overall, this Form 144 is routine compliance disclosure with limited financial significance.

Corporate Governance Expert

TL;DR: Filing demonstrates compliance with Rule 144 but indicates active insider sales activity that governance reviewers will record.

The notice appropriately discloses acquisition source (restricted stock lapse) and proposed broker transaction details, meeting disclosure expectations. Multiple near-term insider sales by the same named seller indicate ongoing monetization of equity awards; while not necessarily indicative of governance problems, these transactions warrant review of the insider's trading plan or blackout periods. The filer’s representation about lack of undisclosed material adverse information is standard. No governance red flags are stated in the filing itself.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Charles Schwab & Co., Inc. 3000 Schwab Way Westlake TX 76262	4000	14000.00	255696747	08/22/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	02/20/2025	Restricted Stock Lapse	BLEND LABS, INC.			4000	02/20/2025	Equity Compensation

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Winnie Ling 7250 REDWOOD BLVD., SUITE 300 NOVATO CA 94945	Blend Labs, Inc.	07/03/2025	8000	28000.00
Winnie Ling 7250 REDWOOD BLVD., SUITE 300 NOVATO CA 94945	Blend Labs, Inc.	07/10/2025	4000	14160.00
Winnie Ling 7250 REDWOOD BLVD., SUITE 300 NOVATO CA 94945	Blend Labs, Inc.	07/24/2025	4000	14360.00
Winnie Ling 7250 REDWOOD BLVD., SUITE 300 NOVATO CA 94945	Blend Labs, Inc.	08/07/2025	4000	14477.00

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Blend Labs (BLND) report in this Form 144 filing?

The filing notifies a proposed sale of 4,000 common shares via Charles Schwab with an approximate sale date of 08/22/2025 and aggregate market value of $14,000.

How were the 4,000 shares acquired according to the filing?

The shares were acquired on 02/20/2025 through a restricted stock lapse from Blend Labs, Inc., with payment described as equity compensation.

How many shares of Blend Labs are outstanding per the filing?

The filing reports 255,696,747 shares outstanding.

Has the filer or related persons sold other shares recently?

Yes. Winnie Ling sold 8,000 shares on 07/03/2025, 4,000 on 07/10/2025, 4,000 on 07/24/2025, and 4,000 on 08/07/2025, with gross proceeds listed in the filing.

On which exchange is the proposed sale expected to occur?

The filing indicates the sale is expected on the NYSE through Charles Schwab & Co., Inc.