SEC Info - Sumner Crystal - ‘4’ for 9/6/22 re: Blend Labs, Inc.

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

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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).

1. Name and Address of Reporting Person^*

Sumner Crystal

(Last)

(First)

(Middle)

415 KEARNY ST.

(Street)

SAN FRANCISCO

94108

(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, Compliance,Risk

3. Date of Earliest Transaction (Month/Day/Year)
9/6/22

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)
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	9/6/22		M		1,449	A	$0.54	601,221 ⁽¹⁾	D
Class A Common Stock	9/6/22		M		11,471	A	$0.87	612,692 ⁽¹⁾	D
Class A Common Stock	9/6/22		S ⁽²⁾		12,920	D	$3.1013 ⁽³⁾	599,772 ⁽¹⁾	D
Class A Common Stock	9/7/22		M		12,920	A	$0.87	612,692 ⁽¹⁾	D
Class A Common Stock	9/7/22		S ⁽²⁾		12,920	D	$3.005 ⁽⁴⁾	599,772 ⁽¹⁾	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)
Stock Option (right to buy)	$0.54	9/6/22		M			1,449	⁽⁵⁾	8/21/26	Class A Common Stock	1,449	$0.00	0	D
Stock Option (right to buy)	$0.87	9/6/22		M			11,471	⁽⁵⁾	12/16/28	Class A Common Stock	11,471	$0.00	148,529	D
Stock Option (right to buy)	$0.87	9/7/22		M			12,920	⁽⁵⁾	12/16/28	Class A Common Stock	12,920	$0.00	135,609	D

Explanation of Responses:

(1) Certain of these shares are represented by previously reported RSUs.

(2) The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the Reporting Person.

(3) This sale price represents the weighted average sale price of the shares sold ranging from $3.04 to $3.155 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.

(4) This sale price represents the weighted average sale price of the shares sold ranging from $2.99 to $3.045 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.

(5) The shares subject to this option are fully vested and immediately exercisable.

Remarks:

	/s/ Crystal Sumner	9/8/22
	** 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.

____________ Transaction Codes:
M	Exercise or conversion of derivative security exempted pursuant to Rule 16b-3.
S	Open market or private sale of non-derivative or derivative security.

Sumner Crystal – ‘4’ for 9/6/22 re: Blend Labs, Inc.

On: Thursday, 9/8/22, at 4:39pm ET · For: 9/6/22 · As: Officer · Accession #: 1209191-22-49173 · File #: 1-40599

Previous ‘4’: ‘4’ on 8/26/22 for 8/24/22 · Next: ‘4’ on 9/28/22 for 9/26/22 · Latest: ‘4’ on 3/19/24 for 3/15/24

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34

Filing Table of Contents

This ‘4’ Document is an XML Data File that may be rendered in various formats:

Sumner Crystal – ‘4’ for 9/6/22 re: Blend Labs, Inc.

On: Thursday, 9/8/22, at 4:39pm ET · For: 9/6/22 · As: Officer · Accession #: 1209191-22-49173 · File #: 1-40599

Previous ‘4’: ‘4’ on 8/26/22 for 8/24/22 · Next: ‘4’ on 9/28/22 for 9/26/22 · Latest: ‘4’ on 3/19/24 for 3/15/24

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34Filing Table of Contents

This ‘4’ Document is an XML Data File that may be rendered in various formats:

Statement of Changes in Beneficial Ownership of Securities by an Insider — Form 4 — SEA’34

Filing Table of Contents