Venkatramani Srinivasan 4

What Happened

• Venkatramani Srinivasan, Head of Product, Technology & Custody Operations at Blend Labs (BLND), had 81,250 restricted stock units (RSUs) convert to Class A common shares on May 20, 2026. Of those, 29,372 shares were withheld to satisfy tax withholding obligations at $1.48 per share (tax value ≈ $43,471). The RSUs converted with no cash exercise price.

Key Details

• Transaction date: 2026-05-20.
• Conversion: 81,250 RSUs converted into common shares (reported as derivative exercise/conversion, code M).
• Tax withholding (code F): 29,372 shares withheld at $1.48/share → ~$43,471 remitted to cover taxes.
• Report filed: 2026-05-22 (timely Form 4 filing; not flagged as late).
• Shares owned after transaction: not specified in the filing.
• Footnotes: F1 — each RSU converts to one share; F2 — shares withheld to cover tax obligations; F3 — vesting schedule: 1/4 vested Feb 20, 2026, remainder vests in equal quarterly increments over the next three years, subject to continued service.

Context

• This was a vesting/conversion of RSUs, not a market purchase or open-market sale. The withholding of shares to cover taxes is a routine, cashless mechanism and does not necessarily indicate a buy/sell signal. The filing reflects compensation-related equity vesting under the company’s plan rather than discretionary trading by the insider.