Venkatramani Srinivasan 4

What Happened
Venkatramani Srinivasan, Head of Product Tech & Cust Op at Blend Labs (BLND), had 325,000 restricted stock units (RSUs) convert to common shares on February 20, 2026. Of those, 117,488 shares were withheld to cover tax obligations at $1.72 per share, totaling $202,079. The conversion/vesting resulted in a net issuance to Srinivasan of approximately 207,512 shares (325,000 gross − 117,488 withheld). This was an award/vesting event (not an open‑market purchase or sale).

Key Details

• Transaction date: 2026-02-20; Form 4 filed 2026-02-24 (timely filing).
• Primary actions reported: M = exercise/conversion of derivative (RSU conversion) for 325,000 shares; F = shares withheld for tax payment, 117,488 shares at $1.72 each = $202,079.
• Net shares received by the insider: ~207,512 shares.
• Footnotes: F1—each RSU converts to one share; F2—shares were withheld to cover taxes; F3—this tranche was the 1/4 vesting event on Feb 20, 2026, with the remainder vesting quarterly over the next three years subject to continued service.
• Filing appears timely (filed within required business-day window). The filing does not indicate any 10b5-1 plan or gift.

Context

• This was a routine RSU vesting and tax-withholding transaction (a common form of insider compensation). The conversion of RSUs is recorded as a derivative conversion (M) and the withheld shares are recorded as a disposition for tax payment (F).
• Because this is vesting/withholding (not an open-market sale or purchase), it should be viewed as compensation-related rather than a direct signal of the insider’s market view.