Haveli entities boost Blend Labs (NYSE: BLND) stake with 1.1M-share open-market buy

Rhea-AI Filing Summary

Haveli Brooks Aggregator, L.P., an entity associated with Haveli Investments and Brian N. Sheth, reported open-market purchases of 1,118,935 shares of Blend Labs, Inc. Class A common stock. The shares were bought at weighted average prices between $1.655 and $1.73 per share.

After these transactions, entities in the Haveli structure report holding 17,536,729 Class A shares indirectly, and a further 130,000 shares are held through a family trust for which Mr. Sheth’s spouse is trustee. The Haveli entities and Mr. Sheth may be deemed to share voting and dispositive power over Haveli Brooks Aggregator’s holdings but each disclaims beneficial ownership beyond any pecuniary interest.

Insights

Insider transactions analyst

Haveli-linked entities significantly increased their indirect Blend Labs equity stake through open-market buying.

Entities associated with Haveli Investments reported net open-market purchases of 1,118,935 Blend Labs Class A shares at weighted average prices around $1.67–$1.70. Open-market purchases (code P) are active decisions, unlike grants or tax withholdings, and often reflect deliberate capital deployment.

Post-transaction, Haveli-related entities report holding 17,536,729 shares indirectly, plus 130,000 shares via a family trust. This filing shows a meaningful incremental commitment by a large holder, though economic exposure is spread across multiple Haveli entities that disclaim beneficial ownership beyond their pecuniary interests.

Insider Trade Summary

Net Buyer: 1,118,935 shares ($1,882,391)

Net Buy 4 txns

Insider Haveli Investments, L.P., Haveli Brooks Aggregator, L.P., Haveli Investments Software Fund I GP, LLC, Haveli Software Management LLC, Haveli Investment Management LLC, Whanau Interests LLC, SHETH BRIAN NIRANJAN

Role null | null | null | null | null | null | null

Bought 1,118,935 shs ($1.88M)

Type	Security	Shares	Price	Value
Purchase	Class A Common Stock	723,460	$1.673	$1.21M
Purchase	Class A Common Stock	178,677	$1.7007	$304K
Purchase	Class A Common Stock	216,798	$1.6982	$368K
holding	Class A Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 17,536,729 shares (Indirect, See footnotes)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.675 to $1.73, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.695 to $1.705, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.655 to $1.70, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4. Represents securities held directly by Haveli Brooks Aggregator, L.P. ("Haveli Aggregator"). Haveli Investments Software Fund I GP, LLC ("Haveli Investments Software GP"), is the general partner of Haveli Aggregator. Whanau Interests LLC ("Whanau") is the sole member of Haveli Investments Software GP. Haveli Software Management LLC ("Haveli Software Management") is the investment adviser to Haveli Investments Software GP. Haveli Investment Management LLC ("Haveli Investment Management"), a Delaware limited liability company, is the sole member of Haveli Software Management. Haveli Investments, L.P. ("Haveli Investments") is the sole member of Haveli Investment Management. Whanau is the general partner of Haveli Investments. Mr. Brian N. Sheth is managing member of Whanau. As a result, Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth may each be deemed to share voting and dispositive power with respect to the securities held by Haveli Aggregator. Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein. Held through a family trust of which Mr. Sheth's spouse is the trustee.

Key Figures

Net shares purchased: 1,118,935 shares Weighted average price 2026-06-10: $1.673 per share Weighted average price 2026-06-09: $1.7007 per share +4 more

7 metrics

Net shares purchased 1,118,935 shares Open-market Class A common stock purchases

Weighted average price 2026-06-10 $1.673 per share Class A share purchases on 2026-06-10

Weighted average price 2026-06-09 $1.7007 per share Class A share purchases on 2026-06-09

Weighted average price 2026-06-08 $1.6982 per share Class A share purchases on 2026-06-08

Indirect holdings after latest trade 17,536,729 shares Total Class A shares reported indirectly owned

Family trust holdings 130,000 shares Class A shares held through family trust

Number of buy transactions 3 transactions Open-market purchase entries with code P

Key Terms

open-market purchase, weighted average price, voting and dispositive power, beneficial ownership, +1 more

5 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

voting and dispositive power financial

"may each be deemed to share voting and dispositive power with respect to the securities"

beneficial ownership financial

"each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest"

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.

family trust financial

"Held through a family trust of which Mr. Sheth's spouse is the trustee."

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Form 4 Insider Transactions: What Each Field Means →

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^*

Haveli Investments, L.P.

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(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)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/08/2026

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

	Form filed by One Reporting Person
X	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)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	06/08/2026		P		216,798	A	$1.6982(1)	16,634,592	I	See footnotes(4)(5)
Class A Common Stock	06/09/2026		P		178,677	A	$1.7007(2)	16,813,269	I	See footnotes(4)(5)
Class A Common Stock	06/10/2026		P		723,460	A	$1.673(3)	17,536,729	I	See footnotes(4)(5)
Class A Common Stock								130,000	I	See footnote(6)

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

1. Name and Address of Reporting Person^*

Haveli Investments, L.P.

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Haveli Brooks Aggregator, L.P.

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Haveli Investments Software Fund I GP, LLC

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Haveli Software Management LLC

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Haveli Investment Management LLC

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Whanau Interests LLC

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

SHETH BRIAN NIRANJAN

(Last) (First) (Middle)

405 COLORADO STREET, SUITE 1600

(Street)

AUSTIN TEXAS 78701

(City) (State) (Zip)

UNITED STATES

(Country)

Relationship of Reporting Person(s) to Issuer

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.675 to $1.73, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.

2. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.695 to $1.705, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.

3. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.655 to $1.70, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.

4. Represents securities held directly by Haveli Brooks Aggregator, L.P. ("Haveli Aggregator"). Haveli Investments Software Fund I GP, LLC ("Haveli Investments Software GP"), is the general partner of Haveli Aggregator. Whanau Interests LLC ("Whanau") is the sole member of Haveli Investments Software GP. Haveli Software Management LLC ("Haveli Software Management") is the investment adviser to Haveli Investments Software GP. Haveli Investment Management LLC ("Haveli Investment Management"), a Delaware limited liability company, is the sole member of Haveli Software Management. Haveli Investments, L.P. ("Haveli Investments") is the sole member of Haveli Investment Management. Whanau is the general partner of Haveli Investments. Mr. Brian N. Sheth is managing member of Whanau.

5. As a result, Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth may each be deemed to share voting and dispositive power with respect to the securities held by Haveli Aggregator. Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.

6. Held through a family trust of which Mr. Sheth's spouse is the trustee.

	Haveli Brooks Aggregator, L.P., By: Haveli Investments Software Fund I GP, LLC, its general partner, By: Whanau Interests LLC, its sole member, By: /s/ Brian N. Sheth, Title: Managing Member	06/10/2026
	Haveli Investments Software Fund I GP, LLC, By: Whanau Interests LLC, its sole member, By: /s/ Brian N. Sheth, Title: Managing Member	06/10/2026
	Haveli Software Management LLC, By: Haveli Investment Management LLC, its sole member, By: /s/ Brian N. Sheth, Title: Chief Executive Officer and Chief Investment Officer	06/10/2026
	Haveli Investment Management LLC, By: /s/ Brian N. Sheth, Title: Chief Executive Officer and Chief Investment Officer	06/10/2026
	Haveli Investments, L.P., By: Whanau Interests LLC, its general partner, By: /s/ Brian N. Sheth, Title: Managing Member	06/10/2026
	Whanau Interests LLC, By: /s/ Brian N. Sheth, Title: Managing Member	06/10/2026
	/s/ Brian N. Sheth	06/10/2026
	** 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)

FAQ

What did Haveli-related entities do in this Blend Labs (BLND) Form 4 filing?

Entities linked to Haveli Investments reported buying 1,118,935 shares of Blend Labs Class A stock in open-market transactions. These purchases increased their reported indirect holdings to 17,536,729 shares, plus 130,000 shares held through a family trust.

At what prices did Haveli entities buy Blend Labs (BLND) shares?

The reported weighted average purchase prices ranged from about $1.655 to $1.73 per share. Footnotes explain that each day’s price reflects multiple trades within those ranges, and detailed per-trade data is available on request from Blend Labs or the SEC staff.

How many Blend Labs (BLND) shares do Haveli-related entities report holding after these trades?

After the reported purchases, Haveli-related entities report indirect ownership of 17,536,729 Blend Labs Class A shares. In addition, 130,000 shares are held through a family trust where Brian N. Sheth’s spouse serves as trustee, according to the disclosure.

Who is the main entity buying Blend Labs (BLND) shares in this Form 4?

The shares are reported as held directly by Haveli Brooks Aggregator, L.P. This partnership is part of a structure including Haveli Investments Software Fund I GP, LLC and other Haveli entities that may share voting and dispositive power over the reported securities.

How are Brian N. Sheth and Haveli entities connected to the Blend Labs (BLND) shares?

The filing explains a chain of ownership where Haveli entities and Brian N. Sheth may be deemed to share voting and dispositive power over Haveli Brooks Aggregator’s shares. Each such party disclaims beneficial ownership except for its or his pecuniary interest.

What does the Form 4 say about the 130,000 Blend Labs (BLND) shares held via trust?

An additional 130,000 Blend Labs Class A shares are described as held through a family trust where Brian N. Sheth’s spouse acts as trustee. This position is reported as an indirect holding separate from the larger Haveli Brooks Aggregator stake.