Blend Labs (BLND) Form 3 Blend Labs / Winnie Ling ownership change

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Ling Winnie

(Last) (First) (Middle)

415 KEARNY ST.

(Street)

SAN FRANCISCO CA 94108

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/27/2023

3. Issuer Name and Ticker or Trading Symbol
Blend Labs, Inc. [ BLND ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
Head of Legal

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Class A Common Stock	50,720	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)	(1)	05/28/2031	Class A Common Stock	62,862	14.01	D
Restricted Stock Units	(2)	(2)	Class A Common Stock	27,243	(3)	D
Restricted Stock Units	(4)	(4)	Class A Common Stock	33,750	(3)	D
Restricted Stock Units	(5)	(5)	Class A Common Stock	200,000	(3)	D

Explanation of Responses:

1. 1/4th of the shares subject to this option vested on April 6, 2022, and 1/48th of the shares vest monthly thereafter, subject to the Reporting Person continuing to be a Service Provider through each such date.

2. The Restricted Stock Units ("RSUs") vest in equal quarterly increments over a one year period, subject to the Reporting Person continuing to be a Service Provider through each such date.

3. Each Restricted Stock Unit represents a contingent right to receive one share of BLND Class A Common Stock.

4. The RSUs vest in equal quarterly increments over an 18 month period, subject to the Reporting Person continuing to be a Service Provider through each such date.

5. The RSUs vest in equal quarterly increments over a two year period, subject to the Reporting Person continuing to be a Service Provider through each such date.

Remarks:

Exhibit 24 - Power of Attorney

	/s/ Winnie Ling	05/05/2023
	** 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 5 (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.
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