Company: BLND
Filing Date: 2025-08-07
Form Type: 8-K
Source: 0001855747-25-000068
Chunk: 1

Company: Blend Labs, Inc.
Filing Date: 2025-08-07
Form: 8-K
Item: Item 5.02
Chunk 1
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 of Finance and Administration, the Company entered into an employment offer letter (the “ Ream Offer Letter”) which provides that Mr. Ream will receive a base salary of $400,000 per year and will be eligible to receive an annual cash bonus with a target level of $250,000, based on achieving performance objectives established by the Company’s board of directors or its designated committee and subject to his continued employment through the payment date. In addition, Mr. Ream will be granted an award of restricted stock units (“ RSUs”) with respect to 2,200,000 shares of the Company’s Class A common stock (the “ RSU Award”). 25% of the RSUs subject to the RSU Award will vest after 12 months of continuous service and the remaining 75% of the RSUs subject to the RSU Award will vest in equal quarterly installments over the next 36 months of continuous service. For purposes of the RSU Award, each quarterly vesting date will occur on the first trading day on or after each of February 20, May 20, August 20, and November 20, in each case, subject to Mr. Ream’s continued service to the Company on the vesting date.

The Ream Offer Letter also provides that Mr. Ream will be eligible to enter into the Company’s Form of Change in Control and Severance Agreement, a copy of which was filed as Exhibit 10.1 to the Company’s Quarterly Report on 10-Q, filed with the SEC on November 6, 2024.

There are no family relationships between Mr. Ream and any director or executive officer of the Company and there are no arrangements or understandings between Mr. Ream and any other persons pursuant to which Mr. Ream was appointed. For the avoidance of doubt, Mr. Ream was not appointed as a result of any arrangement between Haveli and the Company.

The foregoing summary of the material terms of the Ream Offer Letter is qualified in its entirety by reference to the full text of the Ream Offer Letter, which will be filed as an exhibit to the Company’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2025. The Company will also enter into its standard form of indemnification agreement with Mr. Ream, a copy of which was filed as Exhibit 10.1 to the Company’s Registration Statement on Form S-1 (File No. 333-257223), filed with the SEC on July