BLND officer executed 10b5-1 sale of 4,000 shares at $3.5845

Rhea-AI Filing Summary

Reporting person: Winnie Ling, Head of Legal and People and officer of Blend Labs, Inc. (BLND), reported a sale of common stock executed under a Rule 10b5-1 trading plan adopted on 03/14/2025.

The Form 4 shows a disposition of 4,000 shares of Class A common stock on 10/02/2025 for a weighted average sale price of $3.5845 per share (sales ranged from $3.545 to $3.65). After the reported sale, the reporting person beneficially owned 384,631 shares, held directly.

Positive

• Sale executed under a Rule 10b5-1 trading plan, which indicates pre-scheduled transactions
• Reporting person retains significant ownership of 384,631 shares after the sale

Negative

• Disposition of 4,000 shares reduced direct holdings by the reported amount
• Weighted average sale price was $3.5845, reflecting recent trading levels for the shares

Insights

Corporate Insider Transactions Analyst

Officer sold a small block under a pre-set 10b5-1 plan; meaningful ownership remains.

The sale of 4,000 Class A shares was executed under a Rule 10b5-1 plan adopted on 03/14/2025, which provides an affirmative defense for scheduled trades when conditions are met. The disclosed weighted average price was $3.5845, with the range provided between $3.545 and $3.65.

Post-transaction ownership stands at 384,631 shares held directly, indicating continued economic exposure to the issuer. Monitor future Form 4 filings and any additional 10b5-1 plan notices for material changes over the next 90–180 days.

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).

X

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)
10/02/2025

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	10/02/2025		S(1)		4,000	D	$3.5845(2)	384,631	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

Explanation of Responses:

1. The sale reported in this Form 4 was effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person on March 14, 2025.

2. This sale price represents the weighted average sale price of the shares sold ranging from $3.545 to $3.65 per share. Upon request by the Commission staff, the Issuer, or a security holder of the Issuer, the Reporting Person will provide full information regarding the number of shares sold at each separate price within the range set forth in this Form 4.

	/s/ Winnie Ling	10/06/2025
	** 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.

FAQ

What did the Blend Labs (BLND) Form 4 filed by Winnie Ling disclose?

The Form 4 discloses a sale of 4,000 Class A shares on 10/02/2025 under a Rule 10b5-1 plan, at a weighted average price of $3.5845 per share.

Was the sale by the BLND officer part of a trading plan?

Yes. The sale was effected pursuant to a Rule 10b5-1 trading plan adopted on 03/14/2025.

How many BLND shares does Winnie Ling own after the transaction?

After the reported sale, Winnie Ling beneficially owned 384,631 shares of Class A common stock.

What price range and average price were reported for the BLND share sale?

The sale prices ranged from $3.545 to $3.65, with a weighted average sale price of $3.5845.