[Form 4] Blend Labs, Inc. Insider Trading Activity

Rhea-AI Filing Summary

Blend Labs (BLND) reported an equity grant to an officer on a Form 4. The Head of Finance and Administration received 2,200,000 restricted stock units (RSUs) on October 27, 2025, each representing one share of Class A common stock.

Per the award terms, 25% vests on August 20, 2026, with the remainder vesting in equal quarterly installments over the following three years, contingent on continued service. Following the grant, 2,200,000 derivative securities were reported as directly owned.

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

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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^*

Ream Jason

(Last) (First) (Middle)

7250 REDWOODD 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 Finance and Admin.

3. Date of Earliest Transaction (Month/Day/Year)
10/27/2025

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

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)	10/27/2025		A		2,200,000		(2)	(2)	Class A Common Stock	2,200,000	$0	2,200,000	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. 1/4th of the RSUs will vest on August 20, 2026, and the remaining RSUs will vest in equal quarterly increments over the following three year period, subject to the Reporting Person continuing to be a Service Provider through each such date.

	/s/ Winnie Ling, Attorney-in-fact	11/04/2025
	** 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 BLND disclose in this Form 4?

An officer received 2,200,000 RSUs on October 27, 2025, each for one share of Class A common stock.

Who is the reporting person’s role at BLND?

The reporting person is an officer serving as Head of Finance and Admin.

What is the vesting schedule for the 2,200,000 RSUs at BLND?

25% vests on August 20, 2026; the rest vests quarterly over the next three years, subject to continued service.

How many securities are owned after the reported transaction?

The filing shows 2,200,000 derivative securities beneficially owned following the transaction, held directly.

What class of stock underlies the RSUs for BLND?

The RSUs are settled in Class A Common Stock of Blend Labs, Inc.

Was there a purchase price for the RSUs?

The RSUs were reported at a price of $0, consistent with time-based equity awards.