Company: BLND
Filing Date: 2025-03-13
Form Type: 10-K
Source: 0001855747-25-000017
Chunk: 92

Company: Blend Labs, Inc.
Filing Date: 2025-03-13
Form: 10-K
Item: Item 9B
Chunk 92
---
 base salary), (b) an annual target bonus in the amount of $495,000, effective as of April 1, 2025, (c) an award of RSUs covering 1,000,000 shares of the Company’s Class A Common Stock, vesting in quarterly installments over two years, with the first quarterly installment scheduled to vest on May 20, 2025, subject to the Head of Blend’s continued employment with the Company through the applicable vesting date, and (d) an award of PSUs covering a maximum of 4,200,000 shares of the Company’s Class A Common Stock with vesting contingent on the achievement of certain Company stock price hurdles to be set forth in the applicable award agreement.

On March 13, 2025, our compensation committee of the board of directors (the “compensation committee”) approved new compensation arrangements for Amir Jafari, Head of Finance and Administration, and Winnie Ling, Head of Legal and People (each, a “Senior Executive”). Under the terms of the new compensation arrangements, Mr. Jafari will receive (a) a base salary of $450,000 per year, effective as of April 1, 2025, (b) an annual target bonus for 2025 in the amount of $200,000 (unchanged from his 2024 annual target bonus), (c) an award of RSUs covering 750,000 shares of the Company’s Class A Common Stock, vesting in quarterly installments over two years, with the first quarterly installment scheduled to vest on May 20, 2025, subject to Mr. Jafari’s continued employment with the Company through the applicable vesting date, and (d) an award of performance-based RSUs (“PSUs”, and such award, the “New PSUs”, as defined and described below). Under the terms of the new compensation arrangements, Ms. Ling will receive (a) a base salary of $400,000 per year (unchanged from her current base salary), (b) an annual target bonus for 2025 in the amount of $100,000, effective as of April 1, 2025, (c) an award of RSUs covering 250,000 shares of the Company’s Class A Common Stock, vesting in quarterly installments over two years, with the first quarterly installment scheduled to vest on May 20, 2025, subject to Ms. Ling’s continued employment with the Company through the applicable vest