Chen Gerald C. 4

4 · Blend Labs, Inc. · Filed Jun 15, 2026

AI-generated summary of this filing

Updated Jun 15, 2026

Blend Labs (BLND) Director Gerald C. Chen Converts 50,000 RSUs

What Happened

Gerald C. Chen, a director of Blend Labs (BLND), reported the conversion/exercise of derivative awards on 2026-06-11. The filing shows 50,000 shares were acquired via exercise/conversion (listed as N/A price) and a concurrent disposition of 50,000 shares at $0 (reported as a derivative transaction).
This transaction reflects RSU vesting/conversion rather than an open-market buy or sale. The Form 4 does not state a cash sale price or total dollar value for the disposal.

Key Details

Transaction date: 2026-06-11; Form 4 filed 2026-06-15 (4 days later).
Acquired: 50,000 shares via exercise/conversion (price listed N/A).
Disposed: 50,000 shares at $0 (derivative category).
Footnotes: F1 — each RSU converts to one share; F6 — RSUs vested per vesting schedule (earlier of 1-year anniversary or day before next annual meeting, subject to continued service). F2–F5/F3 — some shares are held of record by Greylock-related entities and the reporting person disclaims beneficial ownership except as described.
Shares owned after the transaction: not specified in the filing.
Timeliness: Form 4 was filed four days after the reported transaction date (SEC Form 4 is typically due within two business days); investors may note the filing timing.

Context

The filing records a conversion/settlement of RSUs rather than a market purchase; the reported $0 disposition is not presented as an open-market sale in the filing and the form does not explain the reason (e.g., withholding or transfer).
For retail investors: conversions/vestings are common executive compensation events and do not necessarily signal a buy/sell intent.

Form 4

Period: 2026-06-11

Director

Transactions

Exercise/Conversion
Class A Common Stock
[F1]
2026-06-11+50,000→ 137,760 total
Exercise/Conversion
Restricted Stock Units
[F1][F6]
2026-06-11−50,000→ 0 total
→ Class A Common Stock (50,000 underlying)

Holdings

Footnotes (6)

[F1]Each Restricted Stock Unit ("RSU") represents a contingent right to receive one share of BLND Class A Common Stock.
[F2]Shares are held of record by Greylock 15 Limited Partnership ("Greylock 15").
[F3]Greylock 15 GP LLC ("Greylock LLC") is the general partner of each of Greylock 15, Greylock 15 Principals Limited Partnership ("Greylock Principals"), and Greylock 15-A Limited Partnership ("Greylock 15-A"). The Reporting Person disclaims beneficial ownership of all securities other than those he owns directly, if any, or by virtue of his indirect pro rata interest, as a managing member of Greylock LLC, in the Class A common stock owned by Greylock 15, Greylock Principals, and/or Greylock 15-A.
[F4]Shares are held of record by Greylock Principals.
[F5]Shares are held of record by Greylock 15-A.
[F6]The RSUs vested on the earlier of (i) the one year anniversary of the grant date, or (ii) the day prior to the date of the Issuer's next annual meeting of shareholders, subject to the Reporting Person continuing to be a Service Provider through the applicable vesting date.

Signature

/s/ Kostian Ciko, Attorney-in-fact|2026-06-15

2 files