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

Rhea-AI Filing Summary

Brian Kneafsey, Head of Revenue at Blend Labs, reported the sale of 25,000 shares of Class A common stock on 08/15/2025. The sales were made under a Rule 10b5-1 trading plan adopted on March 14, 2025, at a weighted-average price of $2.8749 per share (range $2.85 to $2.9162). After the reported disposition, the reporting person beneficially owns 696,598 shares directly.

The Form 4 indicates the transaction was routine and executed pursuant to a pre-established plan; the filing was signed by an attorney-in-fact on 08/19/2025. No derivative transactions or other classes of securities are reported in this filing.

Insights

Securities Analyst

TL;DR: Routine insider sale under a 10b5-1 plan; modest reduction in holdings without additional material disclosures.

The sale of 25,000 shares at a weighted-average price of $2.8749 represents a pre-arranged disposition under a March 14, 2025 10b5-1 plan. Given the reported post-sale direct holding of 696,598 shares, this transaction appears procedural rather than a signal of unreported material developments. No derivatives or other transactions are disclosed, and the filing provides the required price range detail. Impact on valuation is likely limited absent further information.

Corporate Governance Expert

TL;DR: Governance controls followed: sale executed via an established 10b5-1 plan and formally reported in Form 4.

The Form 4 documents compliance with Section 16 reporting and notes the use of a Rule 10b5-1 trading plan adopted March 14, 2025, which supports an affirmative defense to insider trading claims. The filing was executed by an attorney-in-fact, indicating administrative handling consistent with standard governance practice. No departures from reporting norms are evident in the document.

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^*

Kneafsey Brian

(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 Revenue

3. Date of Earliest Transaction (Month/Day/Year)
08/15/2025

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	08/15/2025		S(1)		25,000	D	$2.8749(2)	696,598	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 sales reported in this Form 4 were 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 $2.85 to $2.9162 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, Attorney-in-fact	08/19/2025
	** 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 Blend Labs (BLND) insider Brian Kneafsey sell?

The filing reports a sale of 25,000 shares of Class A common stock executed on 08/15/2025.

At what price were the BLND shares sold by the insider?

The weighted-average sale price was $2.8749 per share, with individual sale prices ranging from $2.85 to $2.9162.

Was the insider sale by Brian Kneafsey pre-planned?

Yes. The sales were effected pursuant to a Rule 10b5-1 trading plan adopted on March 14, 2025.

How many BLND shares does Brian Kneafsey own after the sale?

Following the reported transaction, the filing shows 696,598 shares beneficially owned directly.

When was this Form 4 filed and signed?

The Form 4 shows the transaction date as 08/15/2025 and the signature by an attorney-in-fact dated 08/19/2025.

Did the Form 4 report any derivative transactions?

No. The filing contains only a non-derivative sale of Class A common stock and no derivative securities were reported.