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Haveli entities boost Blend Labs (BLND) stake with 1.16M-share open-market buys

Filing Impact
(Very High)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Blend Labs, Inc. insider entities associated with Haveli Investments reported significant open-market purchases of Class A Common Stock. Across June 11–15, 2026, Haveli Brooks Aggregator, L.P. bought a total of 1,156,928 shares at weighted average prices around $1.70 per share, increasing its indirect holdings to 18,693,657 shares. A separate line reflects 130,000 shares held indirectly through a family trust for the spouse of Brian N. Sheth. The filing notes that actual trade prices on each day fell within specified ranges around the reported weighted averages.

Positive

  • None.

Negative

  • None.

Insights

Haveli-affiliated entities increased their indirect stake in Blend Labs through sizable open-market purchases.

Associated entities led by Haveli Brooks Aggregator, L.P. acquired 1,156,928 Blend Labs Class A shares in open-market transactions between June 11 and June 15, 2026. Reported weighted average prices ranged near $1.70 per share.

Following these trades, Haveli Brooks Aggregator’s reported indirect holdings rose to 18,693,657 shares, with an additional 130,000 shares held through a family trust tied to Brian N. Sheth’s spouse. Transactions are reported with weighted-average pricing and price ranges, indicating multiple smaller executions each day.

The filing reflects net buying activity and a large continuing position but does not include broader company financial data. Subsequent filings may clarify how this ownership level interacts with board representation and any future governance or strategic decisions.

Insider Haveli Investments, L.P., Haveli Brooks Aggregator, L.P., Haveli Investments Software Fund I GP, LLC, Haveli Software Management LLC, Haveli Investment Management LLC, Whanau Interests LLC, SHETH BRIAN NIRANJAN
Role null | null | null | null | null | null | null
Bought 1,156,928 shs ($1.99M)
Type Security Shares Price Value
Purchase Class A Common Stock 650,000 $1.7232 $1.12M
Purchase Class A Common Stock 256,928 $1.6976 $436K
Purchase Class A Common Stock 250,000 $1.7405 $435K
holding Class A Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 18,693,657 shares (Indirect, See footnotes)
Footnotes (1)
  1. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.705 to $1.785, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.6744 to $1.73, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.705 to $1.75, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4. Represents securities held directly by Haveli Brooks Aggregator, L.P. ("Haveli Aggregator"). Haveli Investments Software Fund I GP, LLC ("Haveli Investments Software GP"), is the general partner of Haveli Aggregator. Whanau Interests LLC ("Whanau") is the sole member of Haveli Investments Software GP. Haveli Software Management LLC ("Haveli Software Management") is the investment adviser to Haveli Investments Software GP. Haveli Investment Management LLC ("Haveli Investment Management"), a Delaware limited liability company, is the sole member of Haveli Software Management. Haveli Investments, L.P. ("Haveli Investments") is the sole member of Haveli Investment Management. Whanau is the general partner of Haveli Investments. Mr. Brian N. Sheth is managing member of Whanau. As a result, Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth may each be deemed to share voting and dispositive power with respect to the securities held by Haveli Aggregator. Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein. Held through a family trust of which Mr. Sheth's spouse is the trustee.
Total shares bought 1,156,928 shares Net open-market purchases June 11–15, 2026
June 15 purchase size 650,000 shares at $1.7232/share Open-market buy on June 15, 2026
June 12 purchase size 256,928 shares at $1.6976/share Open-market buy on June 12, 2026
June 11 purchase size 250,000 shares at $1.7405/share Open-market buy on June 11, 2026
Holdings after latest trade 18,693,657 shares Indirect holdings by Haveli Brooks Aggregator after June 15, 2026
Family trust holdings 130,000 shares Indirectly held through family trust of Mr. Sheth’s spouse
Price range footnote F1 $1.705–$1.785 Range for one set of weighted-average purchases
Price range footnote F2 $1.6744–$1.73 Range for another set of weighted-average purchases
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
voting and dispositive power financial
"may each be deemed to share voting and dispositive power with respect to the securities"
beneficial ownership financial
"each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein."
family trust financial
"Held through a family trust of which Mr. Sheth's spouse is the trustee."
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Haveli Investments, L.P.
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
Blend Labs, Inc. [ BLND ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirectorX10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
XForm filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year)2A. Deemed Execution Date, if any (Month/Day/Year)3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeVAmount(A) or (D)Price
Class A Common Stock06/11/2026P250,000A$1.7405(1)17,786,729ISee footnotes(4)(5)
Class A Common Stock06/12/2026P256,928A$1.6976(2)18,043,657ISee footnotes(4)(5)
Class A Common Stock06/15/2026P650,000A$1.7232(3)18,693,657ISee footnotes(4)(5)
Class A Common Stock130,000ISee footnote(6)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year)3A. Deemed Execution Date, if any (Month/Day/Year)4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year)7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
1. Name and Address of Reporting Person*
Haveli Investments, L.P.
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Haveli Brooks Aggregator, L.P.
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Haveli Investments Software Fund I GP, LLC
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Haveli Software Management LLC
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Haveli Investment Management LLC
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
Whanau Interests LLC
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
1. Name and Address of Reporting Person*
SHETH BRIAN NIRANJAN
(Last)(First)(Middle)
405 COLORADO STREET, SUITE 1600
(Street)
AUSTIN TEXAS 78701
(City)(State)(Zip)
UNITED STATES
(Country)
Relationship of Reporting Person(s) to Issuer
XDirectorX10% Owner
Officer (give title below)Other (specify below)
Explanation of Responses:
1. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.705 to $1.785, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (1) to this Form 4.
2. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.6744 to $1.73, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (2) to this Form 4.
3. The price reported in Column 4 is a weighted average price. These shares were acquired in multiple transactions at prices ranging from $1.705 to $1.75, inclusive. The reporting person undertakes to provide Blend Labs, Inc. any security holder of Blend Labs, Inc., or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnote (3) to this Form 4.
4. Represents securities held directly by Haveli Brooks Aggregator, L.P. ("Haveli Aggregator"). Haveli Investments Software Fund I GP, LLC ("Haveli Investments Software GP"), is the general partner of Haveli Aggregator. Whanau Interests LLC ("Whanau") is the sole member of Haveli Investments Software GP. Haveli Software Management LLC ("Haveli Software Management") is the investment adviser to Haveli Investments Software GP. Haveli Investment Management LLC ("Haveli Investment Management"), a Delaware limited liability company, is the sole member of Haveli Software Management. Haveli Investments, L.P. ("Haveli Investments") is the sole member of Haveli Investment Management. Whanau is the general partner of Haveli Investments. Mr. Brian N. Sheth is managing member of Whanau.
5. As a result, Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth may each be deemed to share voting and dispositive power with respect to the securities held by Haveli Aggregator. Haveli Investments Software GP, Whanau, Haveli Software Management, Haveli Investments, Haveli Investment Management and Mr. Sheth each disclaim beneficial ownership of such securities except to the extent of their pecuniary interest therein.
6. Held through a family trust of which Mr. Sheth's spouse is the trustee.
Haveli Brooks Aggregator, L.P., By: Haveli Investments Software Fund I GP, LLC, its general partner, By: Whanau Interests LLC, its sole member, By: /s/ Brian N. Sheth, Title: Managing Member06/15/2026
Haveli Investments Software Fund I GP, LLC, By: Whanau Interests LLC, its sole member, By: /s/ Brian N. Sheth, Title: Managing Member06/15/2026
Haveli Software Management LLC, By: Haveli Investment Management LLC, its sole member, By: /s/ Brian N. Sheth, Title: Chief Executive Officer and Chief Investment Officer06/15/2026
Haveli Investment Management LLC, By: /s/ Brian N. Sheth, Title: Chief Executive Officer and Chief Investment Officer06/15/2026
Haveli Investments, L.P., By: Whanau Interests LLC, its general partner, By: /s/ Brian N. Sheth, Title: Managing Member06/15/2026
Whanau Interests LLC, By: /s/ Brian N. Sheth, Title: Managing Member06/15/2026
/s/ Brian N. Sheth06/15/2026
** Signature of Reporting PersonDate
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transactions did Haveli entities report in Blend Labs (BLND)?

Haveli-affiliated entities reported open-market purchases of 1,156,928 Blend Labs Class A shares between June 11 and June 15, 2026, at weighted average prices around $1.70 per share. These transactions increased their reported indirect holdings in the company.

At what prices did Haveli entities buy Blend Labs (BLND) shares in this Form 4?

The reported per-share prices are weighted averages. Footnotes state trades occurred in ranges: $1.705–$1.785, $1.6744–$1.73, and $1.705–$1.75. The weighted averages reported in the table are approximately $1.74, $1.70, and $1.72 per share, respectively.

How many Blend Labs (BLND) shares do Haveli entities hold after these transactions?

After the reported purchases, Haveli Brooks Aggregator, L.P. is shown holding 18,693,657 shares of Blend Labs Class A Common Stock indirectly. A separate entry shows 130,000 shares held indirectly through a family trust for Brian N. Sheth’s spouse, also reported as indirect ownership.

Who is the primary entity buying Blend Labs (BLND) shares in this Form 4?

The primary buying entity is Haveli Brooks Aggregator, L.P. Footnotes explain its ownership chain through Haveli Investments Software Fund I GP, LLC, Whanau Interests LLC, Haveli Software Management LLC, Haveli Investment Management LLC, and Haveli Investments, L.P., with Brian N. Sheth linked via Whanau Interests LLC.

What does the Form 4 say about the family trust holding Blend Labs (BLND) shares?

One entry represents 130,000 Blend Labs shares held through a family trust, where Brian N. Sheth’s spouse serves as trustee. These shares are reported as indirectly owned, reflecting that the trust, rather than Sheth personally, is the direct holder of the securities.