Eggers Barry Form 4 Blend Labs / Barry Eggers ownership change

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

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OMB Number:			3235-0287
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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).

1. Name and Address of Reporting Person^*

Mhatre Ravi

(Last)

(First)

(Middle)

2200 SAND HILL ROAD

(Street)

MENLO PARK

94025

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

3. Date of Earliest Transaction (Month/Day/Year)
07/20/2021

4. If Amendment, Date of Original Filed (Month/Day/Year)

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

	Form filed by One Reporting Person
X	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	07/20/2021		C		16,335,022	A	$0.00	17,418,355	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Class A Common Stock	07/20/2021		C		4,554,845	A	$0.00	6,047,382	I	By Lightspeed Venture Partners Select, L.P.⁽²⁾
Class A Common Stock	07/20/2021		C		2,261,500	A	$0.00	2,261,500	I	By Lightspeed Venture Partners Select III, L.P.⁽³⁾

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)
Class B Common Stock	⁽⁴⁾	07/20/2021		C			463,061	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	463,061	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Series A Preferred Stock	⁽⁵⁾	07/20/2021		C			7,606,645	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	7,606,645	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Series B Preferred Stock	⁽⁵⁾	07/20/2021		C			3,856,742	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	3,856,742	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Series B-1 Preferred Stock	⁽⁵⁾	07/20/2021		C			2,724,414	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	2,724,414	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Series D Preferred Stock	⁽⁵⁾	07/20/2021		C			1,684,160	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	1,684,160	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Class B Common Stock	⁽⁵⁾	07/20/2021		C		15,871,961		⁽⁵⁾	⁽⁵⁾	Class A Common Stock	15,871,961	$0.00	15,871,961	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Class B Common Stock	⁽⁴⁾	07/20/2021		C			15,871,961	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	15,871,961	$0.00	0	I	By Lightspeed Venture Partners IX, L.P⁽¹⁾
Series C Preferred Stock	⁽⁵⁾	07/20/2021		C			2,870,685	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	2,870,685	$0.00	0	I	By Lightspeed Venture Partners Select, L.P.⁽²⁾
Series D Preferred Stock	⁽⁵⁾	07/20/2021		C			1,684,160	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	1,684,160	$0.00	0	I	By Lightspeed Venture Partners Select, L.P.⁽²⁾
Class B Common Stock	⁽⁵⁾	07/20/2021		C		4,554,845		⁽⁵⁾	⁽⁵⁾	Class A Common Stock	4,554,845	$0.00	4,554,845	I	By Lightspeed Venture Partners Select, L.P.⁽²⁾
Class B Common Stock	⁽⁴⁾	07/20/2021		C			4,554,845	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	4,554,845	$0.00	0	I	By Lightspeed Venture Partners Select, L.P.⁽²⁾
Series E Preferred Stock	⁽⁵⁾	07/20/2021		C			2,261,500	⁽⁵⁾	⁽⁵⁾	Class B Common Stock	2,261,500	$0.00	0	I	By Lightspeed Venture Partners Select III, L.P.⁽³⁾
Class B Common Stock	⁽⁵⁾	07/20/2021		C		2,261,500		⁽⁵⁾	⁽⁵⁾	Class A Common Stock	2,261,500	$0.00	2,261,500	I	By Lightspeed Venture Partners Select III, L.P.⁽³⁾
Class B Common Stock	⁽⁴⁾	07/20/2021		C			2,261,500	⁽⁴⁾	⁽⁴⁾	Class A Common Stock	2,261,500	$0.00	0	I	By Lightspeed Venture Partners Select III, L.P.⁽³⁾

1. Name and Address of Reporting Person^*

Mhatre Ravi

(Last)

(First)

(Middle)

2200 SAND HILL ROAD

(Street)

MENLO PARK

94025

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Eggers Barry

(Last)

(First)

(Middle)

2200 SAND HILL ROAD

(Street)

MENLO PARK

94025

(City)

(State)

(Zip)

1. Name and Address of Reporting Person^*

Nieh Peter

(Last)

(First)

(Middle)

2200 SAND HILL ROAD

(Street)

MENLO PARK

94025

(City)

(State)

(Zip)

Explanation of Responses:

1. Shares are held by Lightspeed Venture Partners IX, L.P ("Lightspeed IX"). Lightspeed General Partner IX, L.P. ("LGP IX"), is the general partner of Lightspeed IX. Lightspeed Ultimate General Partner IX, Ltd. ("LUGP IX") is the general partner of LGP IX. Barry Eggers, Ravi Mhatre, and Peter Nieh are the directors of LUGP IX and share voting and dispositive power with respect to the shares held by Lightspeed IX. Messrs. Eggers, Mhatre, and Nieh disclaim beneficial ownership of the shares held by Lightspeed IX except to the extent of their respective pecuniary interests therein.

2. Shares are held by Lightspeed Venture Partners Select, L.P. ("Lightspeed Select"). Lightspeed General Partner Select, L.P. ("LGP Select") is the general partner of Lightspeed Select. Lightspeed Ultimate General Partner Select, Ltd. ("LUGP Select") is the general partner of LGP Select. Barry Eggers, Jeremy Liew, Ravi Mhatre and Peter Nieh are the directors of LUGP Select and share voting and dispositive power with respect to the shares held by Lightspeed Select. LGP Select, LUGP Select and Messrs. Eggers, Liew, Mhatre and Nieh disclaim beneficial ownership of the shares held by Lightspeed Select, except to the extent of their respective pecuniary interests therein.

3. Shares are held by Lightspeed Venture Partners Select III, L.P. ("Lightspeed Select III"). Lightspeed Ultimate General Partner Select III, Ltd ("LUGP Select III") is the general partner of Lightspeed Select III. Barry Eggers, Jeremy Liew, Ravi Mhatre, and Peter Nieh are the directors of LUGP Select III and share voting and dispositive power with respect to the shares held by Lightspeed Select III. LUGP Select III and Messrs. Eggers, Liew, Mhatre and Nieh disclaim beneficial ownership of the shares held by Lightspeed Select III, except to the extent of their respective pecuniary interests therein.

4. Each share of Class B Common Stock was converted into one share of Class A Common Stock immediately prior to the completion of the Issuer's initial public offering of Class A Common Stock.

5. Each share of Series A Preferred Stock, Series B Preferred Stock, Series B-1 Preferred Stock, Series C Preferred Stock, Series D Preferred Stock and Series E Preferred Stock was first converted into one share of Class B Common Stock followed by a subsequent conversion into Class A Common Stock prior to the completion of the Issuer's initial public offering of Class A Common Stock.

Remarks:

	/s/ Ravi Mhatre	07/22/2021
	/s/ Barry Eggers	07/22/2021
	/s/ Peter Nieh	07/22/2021
	** 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.

Eggers Barry Form 4Blend Labs / Barry Eggers ownership change