What is the net share impact of Winnie Ling’s RSU transactions at Blend Labs (BLND)?

From 70,414 RSUs converting into Class A shares and 25,385 shares withheld for taxes, Ling effectively gained 45,029 shares. This reflects a compensation-related increase in her equity position rather than discretionary buying or selling of Blend Labs stock.

Blend Labs (NYSE: BLND) legal chief gains shares through RSU vesting and tax withholding

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Blend Labs, Inc. executive Winnie Ling, Head of Legal and People, reported routine equity compensation activity involving Restricted Stock Units (RSUs) that convert into Class A common stock. On May 20, 2026, RSUs covering 70,414 shares were exercised or converted into Class A shares at a stated price of $0.00 per share.

To cover related tax obligations upon RSU vesting, 25,385 Class A shares were withheld at $1.48/share. This represents a tax-withholding disposition rather than an open-market sale. Net of withholding, Ling effectively received tens of thousands of additional shares as part of compensation.

The footnotes state that each RSU represents a contingent right to one share of Class A common stock and that these RSUs vest in equal quarterly installments over a two-year period, so long as Ling continues as a service provider to the company.

Insider Trade Summary

70,414 shares exercised/converted

Mixed 5 txns

Insider Ling Winnie

Role HEAD OF LEGAL AND PEOPLE

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	31,250	$0.00	--
Exercise	Restricted Stock Units	39,164	$0.00	--
Exercise	Class A Common Stock	31,250	$0.00	--
Exercise	Class A Common Stock	39,164	$0.00	--
Tax Withholding	Class A Common Stock	25,385	$1.48	$38K

Holdings After Transaction: Restricted Stock Units — 93,750 shares (Direct, null); Class A Common Stock — 471,299 shares (Direct, null)

Footnotes (1)

Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock. Shares were withheld to cover tax obligations in connection with the vesting of RSUs. 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.

Key Figures

RSUs converted: 70,414 shares Tax withholding shares: 25,385 shares Withholding price: $1.48/share +3 more

6 metrics

RSUs converted 70,414 shares Total Restricted Stock Units exercised into Class A common stock on May 20, 2026

Tax withholding shares 25,385 shares Class A shares withheld to cover tax obligations on RSU vesting

Withholding price $1.48/share Price at which shares were valued for tax withholding purposes

Net shares received 45,029 shares RSUs converted (70,414) minus tax-withholding shares (25,385)

RSU block 1 39,164 units First RSU tranche converting into Class A common stock

RSU block 2 31,250 units Second RSU tranche converting into Class A common stock

Key Terms

Restricted Stock Unit ("RSU"), tax obligations, Service Provider

3 terms

Restricted Stock Unit ("RSU") financial

"Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share"

tax obligations financial

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

Service Provider financial

"subject to the Reporting Person continuing to be a Service Provider through each such date"

Form 4 Insider Transactions: What Each Field Means →

05/22/2026 - 04:10 PM

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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

CALIFORNIA

94945

(City)

(State)

(Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

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

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

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Class A Common Stock	05/20/2026		M		31,250	A	⁽¹⁾	471,299	D
Class A Common Stock	05/20/2026		M		39,164	A	⁽¹⁾	510,463	D
Class A Common Stock	05/20/2026		F⁽²⁾		25,385	D	$1.48	485,078	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽¹⁾	05/20/2026		M			31,250	⁽³⁾	⁽³⁾	Class A Common Stock	31,250	$0	93,750	D
Restricted Stock Units	⁽¹⁾	05/20/2026		M			39,164	⁽³⁾	⁽³⁾	Class A Common Stock	39,164	$0	234,984	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	05/22/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Winnie Ling report at Blend Labs (BLND)?

Winnie Ling reported RSU-related transactions converting 70,414 Restricted Stock Units into Class A common stock. As part of this vesting event, the company withheld 25,385 shares to satisfy tax obligations, with the remaining shares effectively delivered as equity compensation.

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

The filing shows 25,385 Class A common shares were withheld to cover tax obligations at a price of $1.48 per share. This tax withholding is a non-market disposition, distinct from an open-market stock sale by the executive.

How many Blend Labs (BLND) RSUs did Winnie Ling convert into stock?

The Form 4 reports RSU conversions for a total of 70,414 underlying Class A common shares, in two blocks of 39,164 and 31,250 RSUs. Each Restricted Stock Unit represents a contingent right to receive one share of Blend Labs Class A common stock.

Was Winnie Ling’s Blend Labs (BLND) Form 4 an open-market stock sale?

No, the disposition reported was tax withholding tied to RSU vesting. Shares were withheld by the company to cover tax obligations, rather than sold by Ling on the open market, making this a routine compensation-related transaction.

How do the reported RSUs at Blend Labs (BLND) vest for Winnie Ling?

The footnotes explain that Ling’s RSUs vest in equal quarterly increments over a two-year period. Vesting continues only if she remains a service provider to Blend Labs through each applicable vesting date, aligning equity compensation with ongoing employment.