Blend Labs (BLND) Head of Revenue Matthew Thomson Converts 100,000 RSUs

What Happened
Matthew Thomson, Head of Revenue at Blend Labs (BLND), had RSUs convert into common shares on August 20, 2026. The filing shows a conversion/exercise of derivative awards totaling 100,000 shares. To cover tax obligations on the vesting, 24,350 shares were withheld at $1.50 per share, totaling $36,525. The filing also includes an administrative derivative line for 100,000 shares at $0.

Key Details

• Transaction date: 2026-08-20; Form 4 filed 2026-08-24 (timely filing).
• Primary action: Exercise/conversion of derivative (RSU settlement) — 100,000 shares.
• Tax/payment withholding: 24,350 shares withheld @ $1.50/share = $36,525 (code F).
• Additional derivative line: 100,000 shares listed at $0 (administrative entry labeled M in the filing).
• Footnotes: F1 — each RSU = right to one Class A share; F2 — shares withheld to cover taxes; F3 — RSUs vest quarterly over 4 years, subject to continued service.
• Shares owned after transaction: not specified in the provided excerpt — see the full Form 4 for total holdings.

Context
This looks like a routine RSU vesting and settlement rather than an open-market purchase or a discretionary sale. Tax-withholding (code F) is common when RSUs vest and does not necessarily indicate a directional bet on the stock. The derivative code M here reflects conversion/settlement of equity awards rather than a cash purchase.