SHETH BRIAN NIRANJAN 4
4 · Blend Labs, Inc. · Filed May 21, 2026
Research Summary
AI-generated summary of this filing
Blend Labs (BLND) 10% Owner Haveli Investments Buys 777,178 Shares
What Happened
Haveli Investments, L.P. — a reported 10% owner of Blend Labs (BLND) — purchased a total of 777,178 Class A common shares in three open-market/private purchases between May 19 and May 21, 2026. Breakdown by date: 583,450 shares on 2026-05-19 at a weighted avg. $1.49 (reported value $867,882); 185,611 shares on 2026-05-20 at a weighted avg. $1.50 ($278,082); and 8,117 shares on 2026-05-21 at $1.50 ($12,176). Total reported consideration ≈ $1,158,140. These were purchases (a net buy), which investors often view as a more bullish signal than sales.
Key Details
- Transaction type/code: P = Purchase (open market or private purchases).
- Dates & prices: May 19 (weighted avg $1.49; trades ranged $1.475–$1.50 per F1), May 20 (weighted avg $1.50; trades ranged $1.465–$1.50 per F2), May 21 (weighted avg $1.50; trades at $1.50 per F3).
- Total shares bought: 777,178; total reported cost ≈ $1,158,140.
- Shares owned after transaction: Not specified in the provided filing excerpt.
- Filing date/timeliness: Form 4 filed 2026-05-21 for transactions 2026-05-19 to 2026-05-21 — appears timely based on the filing date.
- Ownership structure notes (F4–F6): The shares are held through Haveli Brooks Aggregator, L.P.; a chain of related entities (Haveli Investments Software GP, Whanau Interests LLC, Haveli Software Management, Haveli Investment Management) and Mr. Brian N. Sheth are disclosed as potentially sharing voting/dispositive power; each disclaims beneficial ownership except to the extent of pecuniary interest. One holding is through a family trust with Mr. Sheth’s spouse as trustee.
Context
This filing reflects institutional/affiliate buying by a 10% owner rather than an individual executive making a personal trade. The footnotes clarify that reported prices are weighted averages across multiple transactions and describe the entity ownership chain. Purchases by major stakeholders can be relevant to retail investors, but they don’t on their own indicate the owner’s motives.
Insider Transaction Report
- Purchase
Class A Common Stock
[F1][F4][F5]2026-05-19$1.49/sh+583,450$867,882→ 14,911,832 total(indirect: See footnotes) - Purchase
Class A Common Stock
[F2][F4][F5]2026-05-20$1.50/sh+185,611$278,082→ 15,097,443 total(indirect: See footnotes) - Purchase
Class A Common Stock
[F3][F4][F5]2026-05-21$1.50/sh+8,117$12,176→ 15,105,560 total(indirect: See footnotes)
- 130,000(indirect: See footnote)
Class A Common Stock
[F6]
Footnotes (6)
- [F1]The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.475 to $1.50, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.
- [F2]The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.465 to $1.50, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.
- [F3]The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at $1.50, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.
- [F4]Represents securities held directly by Haveli Brooks Aggregator, L.P. ("Haveli Aggregator"). Haveli Investments Software Fund I GP, LLC ("Haveli Investments Software GP"), is the general partner of Haveli Aggregator. Whanau Interests LLC ("Whanau") is the sole member of Haveli Investments Software GP. Haveli Software Management LLC ("Haveli Software Management") is the investment adviser to Haveli Investments Software GP. Haveli Investment Management LLC ("Haveli Investment Management"), a Delaware limited liability company, is the sole member of Haveli Software Management. Haveli Investments, L.P. ("Haveli Investments") is the sole member of Haveli Investment Management. Whanau is the general partner of Haveli Investments. Mr. Brian N. Sheth is managing member of Whanau.
- [F5]As a result, Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth may each be deemed to share voting and dispositive power with respect to the securities held by Haveli Aggregator. Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.
- [F6]Held through a family trust of which Mr. Sheth's spouse is the trustee.