Company: BLND
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001855747-25-000069
Chunk: 387

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 387
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$18,724 Vested and exercisable as of June 30, 202515,223 $4.21 4.43$17,650 No options were granted during the three and six months ended June 30, 2025 and 2024.The number of options unvested as of June 30, 2025 and December 31, 2024 was 1,090 and 1,552, respectively. The weighted average grant-date fair value of these unvested options was $1.20 and $1.58 per share as of June 30, 2025 and December 31, 2024, respectively.The total fair value of options vested during the three months ended June 30, 2025 and 2024 was $0.4 million and $1.2 million, respectively. The total fair value of options vested during the six months ended June 30, 2025 and 2024 was $1.1 million and $2.6 million, respectively.The aggregate intrinsic value of options exercised during the three months ended June 30, 2025 and 2024 was $0.3 million and $0.1 million, respectively. The aggregate intrinsic value of options exercised during the six months ended June 30, 2025 and 2024 was $0.9 million and $0.6 million, respectively.As of June 30, 2025, the total unrecognized stock-based compensation expense for stock options was approximately $1.2 million, which is expected to be recognized over a weighted average period of 1.5 years. 

19

Blend Labs, Inc.Notes to Condensed Consolidated Financial Statements(Unaudited)

Restricted Stock UnitsA summary of the Company’s RSU activity and related information is as follows:Number of RSUsWeightedaveragegrant date fair value per share (In thousands)Balance as of December 31, 202413,770 $1.75 Granted4,774 $3.61 Vested(4,108)$2.01 Forfeited(2,980)$2.22 Balance as of June 30, 202511,456 $2.31 As of June 30, 2025, there was $24.3 million of unrecognized stock-based compensation expense related to unvested RSUs, which is expected to be recognized over a weighted average period of 2.1 years. RSUs granted under the