Blend Labs director exercises 50,000 RSUs
Blend Labs director Gerald C. Chen reported an equity award vesting that delivered 50,000 shares of Class A Common Stock through the exercise of Restricted Stock Units (RSUs).
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Form Type
4
Rhea-AI Filing Summary
Blend Labs director Gerald C. Chen reported an equity award vesting that delivered 50,000 shares of Class A Common Stock through the exercise of Restricted Stock Units (RSUs). The RSUs converted at a price of $0.00 per share, increasing his directly held common stock to 137,760 shares after the transaction.
The filing also lists large indirect holdings of Class A Common Stock recorded in the names of Greylock 15, Greylock Principals, and Greylock 15-A. Chen is a managing member of the general partner of these funds and disclaims beneficial ownership beyond his indirect pro rata interest.
Insider Trade Summary
50,000 shares exercised/converted
Exercise
5 txns
Insider
Chen Gerald C.
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 50,000 | $0.00 | $0.00 |
| Exercise | Class A Common Stock | 50,000 | $0.00 | $0.00 |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
Holdings After Transaction:
Restricted Stock Units — 0 contracts (Direct);
Class A Common Stock — 137,760 shares (Direct);
Class A Common Stock — 10,034,191 shares (Indirect, See footnote)
Footnotes (6)
- F1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.
- F2. Shares are held of record by Greylock 15 Limited Partnership ("Greylock 15").
- F3. Greylock 15 GP LLC ("Greylock LLC") is the general partner of each of Greylock 15, Greylock 15 Principals Limited Partnership ("Greylock Principals"), and Greylock 15-A Limited Partnership ("Greylock 15-A"). The Reporting Person disclaims beneficial ownership of all securities other than those he owns directly, if any, or by virtue of his indirect pro rata interest, as a managing member of Greylock LLC, in the Class A common stock owned by Greylock 15, Greylock Principals, and/or Greylock 15-A.
- F4. Shares are held of record by Greylock Principals.
- F5. Shares are held of record by Greylock 15-A.
- F6. The RSUs vested on the earlier of (i) the one year anniversary of the grant date, or (ii) the day prior to the date of the Issuer's next annual meeting of shareholders, subject to the Reporting Person continuing to be a Service Provider through the applicable vesting date.
Key Figures
RSUs converted: 50,000 units
Direct shares after transaction: 137,760 shares
Indirect holding entry 1: 501,708 shares
+3 more
6 metrics
RSUs converted
50,000 units
Each unit converting into one share of Class A Common Stock
Direct shares after transaction
137,760 shares
Class A Common Stock held directly after RSU settlement
Indirect holding entry 1
501,708 shares
Class A Common Stock held indirectly, tied to Greylock entities
Indirect holding entry 2
501,708 shares
Second indirect Class A Common Stock position, see Greylock footnotes
Indirect holding entry 3
9,030,775 shares
Additional indirect Class A Common Stock position via Greylock-affiliated partnerships
RSU exercise price
$0.00 per share
Conversion price for 50,000 RSUs into Class A Common Stock
Key Terms
Restricted Stock Unit ("RSU"), contingent right, beneficial ownership, general partner, +1 more
5 terms
Restricted Stock Unit ("RSU") financial
"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"
contingent right financial
"RSU represents a contingent right to receive one share of BLND Class A Common Stock"
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of all securities other than those he owns directly"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
general partner financial
"Greylock 15 GP LLC is the general partner of each of Greylock 15, Greylock 15 Principals, and Greylock 15-A"
A general partner is the person or firm that runs an investment partnership and legally represents it — they make the day-to-day decisions, choose which assets to buy or sell, and are responsible for the partnership’s obligations. Investors care because the general partner’s judgment, risk-taking and fee and profit-sharing arrangements determine both the potential returns and the level of exposure to losses; think of the GP as the ship’s captain whose skill and honesty shape the voyage’s outcome.
indirect pro rata interest financial
"by virtue of his indirect pro rata interest, as a managing member of Greylock LLC"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What did Blend Labs (BLND) director Gerald C. Chen report in this Form 4?
Gerald C. Chen reported the vesting and conversion of Restricted Stock Units into 50,000 shares of Blend Labs Class A Common Stock. This increased his directly held shares to 137,760 following the equity award settlement.
What are Gerald C. Chen’s direct holdings of Blend Labs Class A stock after the transaction?
After the RSU conversion, Gerald C. Chen directly holds 137,760 shares of Blend Labs Class A Common Stock. This figure reflects his position following the 50,000-share RSU vesting reported on June 11, 2026.
How are Gerald C. Chen’s indirect Blend Labs holdings structured?
Indirect holdings are recorded in the names of Greylock 15, Greylock Principals, and Greylock 15-A, whose general partner is Greylock 15 GP LLC. Chen is a managing member and disclaims beneficial ownership beyond his indirect pro rata interest in those entities.
What does each Restricted Stock Unit (RSU) represent for Blend Labs (BLND)?
Each Restricted Stock Unit represents a contingent right to receive one share of Blend Labs Class A Common Stock. The RSUs vest based on service conditions and then convert into common shares, as reflected in this 50,000-share settlement.
When did the reported Blend Labs RSUs vest for Gerald C. Chen?
The RSUs vested on the earlier of the one-year anniversary of the grant date or the day before Blend Labs’ next annual shareholder meeting, subject to Chen continuing as a service provider through the applicable vesting date, according to the footnote.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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