Chen Gerald C. 4

What Happened Gerald C. Chen, a director of Blend Labs (BLND), received an award of 50,000 restricted stock units (RSUs) on 2026-06-17. The grant was recorded at $0.00 per RSU (no cash payment); RSUs are a derivative award that convert into Class A common shares upon vesting.

Key Details

• Transaction date: 2026-06-17; Filing date: 2026-06-22 (appears to be filed 5 days after the grant).
• Grant: 50,000 RSUs, price reported $0.00 (award/grant code A).
• Shares owned after transaction: not specified in the Form 4 filing.
• Footnotes:
  • F1: Each RSU represents a contingent right to receive one share of BLND Class A common stock.
  • F2: Vesting occurs on the earlier of (i) one year after the grant date or (ii) the day before the issuer’s next annual meeting of shareholders, provided the reporting person remains a service provider through the vesting date.
• Filing timeliness: Form 4 was filed several days after the transaction date; Form 4s are typically required within two business days, so this filing appears late.

Context RSUs are not an immediate purchase of stock but a promise to deliver shares in the future if vesting conditions are met; they are common for directors and employees as compensation. This award does not by itself indicate a buy or sell decision in the market today — it’s a compensatory grant that will only become shares if and when the RSUs vest.