Ling Winnie 4

What Happened
Ling Winnie, Head of Legal and People at Blend Labs (BLND), was granted a total of 391,640 derivative awards on February 18, 2026: 313,312 restricted stock units (RSUs) and 78,328 performance-based restricted stock units (PSUs). Each award was granted at $0.00 (no cash paid); the filing shows these are contingent rights to receive Class A common stock if vesting conditions are met.

Key Details

• Transaction date: 2026-02-18; Form 4 filed 2026-02-20 (two business days later, within the standard Form 4 reporting window).
• Award type/code: "A" = Grant/Award (derivative securities). Price reported: $0.00.
• Total awards: 313,312 RSUs + 78,328 PSUs = 391,640 contingent shares.
• Shares owned after transaction: Not disclosed in this filing.
• Footnotes:
  • F1/F2 — RSUs: each RSU converts to one share if and when vested; RSUs vest in equal quarterly increments over two years, subject to continued service.
  • F3/F4 — PSUs: each PSU converts to one share if and when earned; PSUs vest in up to four equal tranches based on Blend’s stock-price performance over a performance period ending Dec 31, 2029, subject to continued service.

Context
These are compensation awards (not open-market purchases or sales). RSUs provide shares over time if the executive remains employed; PSUs depend on future stock-performance targets and may not convert to shares if targets aren’t met. Awards at $0 are common for employee compensation and do not by themselves signal a buy or sell decision.