SHETH BRIAN NIRANJAN 4
4 · Blend Labs, Inc. · Filed Jun 10, 2026
Research Summary
AI-generated summary of this filing
Blend Labs (BLND) 10% Owner Haveli Investments Buys 1.12M Shares
What Happened
Haveli Investments, L.P. (reported as a 10% owner) purchased a total of 1,118,935 shares of Blend Labs (BLND) in three transactions across June 8–10, 2026. The reported weighted-average prices and reported totals were: 216,798 shares at $1.70 ($368,166) on June 8; 178,677 shares at $1.70 ($303,876) on June 9; and 723,460 shares at $1.67 (~$1,210,349) on June 10. These were purchases (transaction code P), i.e., new acquisitions rather than sales.
Key Details
- Transaction dates and reported weighted-average prices:
- 2026-06-08: 216,798 shares @ $1.70 (total reported $368,166). (Footnote: prices ranged $1.675–$1.73.)
- 2026-06-09: 178,677 shares @ $1.70 (total reported $303,876). (Footnote: prices ranged $1.695–$1.705.)
- 2026-06-10: 723,460 shares @ $1.67 (total reported $1,210,349). (Footnote: prices ranged $1.655–$1.70.)
- Combined purchase: 1,118,935 shares for ~$1,882,391.
- Shares owned after the transactions: not disclosed on the information provided in this summary (filing did not list "amount owned following reported transaction").
- Ownership/beneficial notes: filing indicates these shares are held through Haveli Brooks Aggregator, L.P. and lists a chain of related entities (Haveli Investments Software GP, Whanau Interests LLC, Haveli Software Management, Haveli Investment Management) and notes Mr. Brian N. Sheth as managing member; those entities may share voting/dispositive power but disclaim beneficial ownership except to the extent of pecuniary interest (see footnotes F4–F6).
- Filing timeliness: Form 4 was filed June 10, 2026 reporting transactions through June 10 — appears timely under Form 4 disclosure rules.
Context
This is an institutional/large-owner purchase (10% owner) reported as open-market/private purchases (code P). Footnotes indicate the reported prices are weighted averages covering multiple trades at small price ranges; the filing also documents a layered ownership structure that can cause shared voting/dispositive power among related entities and an individual (Brian Sheth). Purchases by a 10% holder are informative (they increase the holder’s stake) but do not on their own explain motivation; the filing does not indicate option exercises, gifts, or tax-withholding events.
Insider Transaction Report
- Purchase
Class A Common Stock
[F1][F4][F5]2026-06-08$1.70/sh+216,798$368,166→ 16,634,592 total(indirect: See footnotes) - Purchase
Class A Common Stock
[F2][F4][F5]2026-06-09$1.70/sh+178,677$303,876→ 16,813,269 total(indirect: See footnotes) - Purchase
Class A Common Stock
[F3][F4][F5]2026-06-10$1.67/sh+723,460$1,210,349→ 17,536,729 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 $1.675 to $1.73, 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 $1.695 to $1.705, 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 prices ranging from $1.655 to $1.70, 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.