SHETH BRIAN NIRANJAN 4

What Happened Haveli Investments, L.P. (reported as a 10% owner of Blend Labs, Inc. / BLND) made three open-market purchases between May 11 and May 13, 2026, acquiring a total of 1,951,635 shares for approximately $2,789,590. Transactions reported were:

• May 11, 2026 — 395,915 shares at a weighted avg price of $1.41 (total $557,171) (see footnote F1; prices ranged $1.3371–$1.459).
• May 12, 2026 — 258,796 shares at a weighted avg price of $1.41 (total $365,886) (see footnote F2; prices ranged $1.38–$1.44).
• May 13, 2026 — 1,296,924 shares at a weighted avg price of $1.44 (total $1,866,533) (see footnote F3; prices ranged $1.405–$1.465).

These were purchases (buying stock), which investors often view as a more informative signal than routine sales because they increase the reporting party’s stake.

Key Details

• Transaction dates: May 11, 2026; May 12, 2026; May 13, 2026.
• Prices: weighted averages reported as $1.41 (May 11 & 12) and $1.44 (May 13); underlying trade-price ranges provided in footnotes F1–F3.
• Total shares acquired: 1,951,635; total disclosed cash spent ≈ $2,789,590.
• Shares owned after transaction: not specified in the provided excerpt of the Form 4.
• Filing: Form 4 was filed May 13, 2026, reporting trades from May 11–13; this appears to be within the typical two-business-day reporting window.
• Notable footnotes: F1–F3 explain reported prices are weighted averages with specified price ranges; F4–F6 describe the ownership chain (Haveli Aggregator, general partner and adviser entities) and note shared voting/dispositive power and a family trust connection to Mr. Brian N. Sheth.

Context

• This filing reflects activity by a 10% institutional owner via affiliated entities rather than a direct executive sale/purchase. Footnotes show a multi-entity structure that may share voting/dispositive power; those entities disclaim beneficial ownership except for pecuniary interest. No options, gifts, or awards were reported.