Blend Labs (NYSE: BLND) executive reports RSU vesting and tax share withholding

Rhea-AI Filing Summary

Blend Labs, Inc. executive Winnie Ling, Head of Legal and People, reported RSU vesting and related share movements. On February 20, 2026, she exercised Restricted Stock Units covering 31,250 and 39,164 RSUs, each representing one share of Class A Common Stock. These conversions increased her reported direct holdings of Class A shares, with post-transaction balances of 427,177 and then 466,341 shares in successive entries.

To satisfy tax obligations from the RSU vesting, 26,292 Class A shares were withheld and disposed of at $1.72 per share, leaving 440,049 Class A shares directly owned after all transactions. The filing notes that these RSUs vest in equal quarterly increments over two years, contingent on her continued service at the company.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Ling Winnie

(Last) (First) (Middle)

7250 REDWOOD BLVD., SUITE 300

(Street)

NOVATO CA 94945

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Blend Labs, Inc. [ BLND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	HEAD OF LEGAL AND PEOPLE

3. Date of Earliest Transaction (Month/Day/Year)
02/20/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	02/20/2026		M		31,250	A	(1)	427,177	D
Class A Common Stock	02/20/2026		M		39,164	A	(1)	466,341	D
Class A Common Stock	02/20/2026		F(2)		26,292	D	$1.72	440,049	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Units	(1)	02/20/2026		M			31,250	(3)	(3)	Class A Common Stock	31,250	$0	125,000	D
Restricted Stock Units	(1)	02/20/2026		M			39,164	(3)	(3)	Class A Common Stock	39,164	$0	274,148	D

Explanation of Responses:

1. Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.

2. Shares were withheld to cover tax obligations in connection with the vesting of RSUs.

3. 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.

	/s/ Kostian Ciko, Attorney-in-fact	02/24/2026
	** Signature of Reporting Person	Date
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FAQ

What insider activity did Blend Labs (BLND) report for Winnie Ling?

Blend Labs reported RSU vesting and related share movements for Winnie Ling. She converted 31,250 and 39,164 Restricted Stock Units into Class A Common Stock, with associated tax-withholding share dispositions, reflecting routine equity compensation settlement activity rather than open-market buying or selling.

How many Blend Labs RSUs did Winnie Ling convert into Class A shares?

Winnie Ling converted 31,250 and 39,164 Blend Labs RSUs into Class A Common Stock. Each Restricted Stock Unit represents a contingent right to receive one share, so these exercises directly increased her reported Class A holdings before the subsequent tax-withholding share disposition entry.

How many Blend Labs shares were withheld for taxes in this Form 4?

The Form 4 shows that 26,292 Blend Labs Class A Common Stock shares were withheld to cover tax obligations. These shares were disposed of at a reported price of $1.72 per share in connection with the vesting of Restricted Stock Units, as described in the filing footnotes.

What is Winnie Ling’s Blend Labs shareholding after these transactions?

After the reported transactions, Winnie Ling directly owns 440,049 shares of Blend Labs Class A Common Stock. This figure reflects RSU conversions into shares and the tax-withholding share disposition recorded on February 20, 2026, as summarized in the final ownership entry of the Form 4.

How do Winnie Ling’s Blend Labs RSUs vest over time?

Her Restricted Stock Units vest in equal quarterly increments over a two-year period. Vesting is conditioned on Winnie Ling continuing to serve as a Service Provider to Blend Labs through each vesting date, according to the footnote disclosure in the insider transaction report.

Did Winnie Ling buy or sell Blend Labs shares on the open market?

The transactions are reported as derivative exercises and a tax-withholding disposition, not open-market trades. RSUs were converted into Class A Common Stock, and some shares were withheld and disposed of to satisfy tax obligations arising from the vesting event.