Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On May 19, 2022, Blend Labs, Inc. ("Blend") was notified that Jonathan Chan,
Controller and principal accounting officer of Blend, is taking a leave of
absence effective June 9, 2022.
Effective June 14, 2022, Manish Gupta will be joining Blend as its Controller
and, in this role, will serve as the Company's principal accounting officer.
Prior to joining Blend, Mr. Gupta, 50, served as Senior Vice President, Head of
Accounting & Tax of Global Lending Services, LLC, an automotive lending company
and financial services provider, from November 2021 to May 2022. Between March
2018 and August 2021, Mr. Gupta served in various positions at Fiserv, Inc., a
financial services technology provider, most recently as Vice President,
Finance. Prior to that, Mr. Gupta served as Vice President & Financial
Controller at Xerox Corporation., a document management company, from March 2012
to May 2017 (including a period following the separation of Conduent
Incorporated from Xerox Corporation in January 2017).
In connection with Mr. Gupta's new role as Controller and appointment as Blend's
principal accounting officer, effective June 14, 2022, he will receive an annual
base salary of $265,000, and a signing bonus of $25,000. He is also eligible to
receive four annual grants of restricted stock units with an aggregate value of
$940,000, subject to his continued employment with Blend. There are no family
relationships between Mr. Gupta and any director or executive officer of the
Company and Mr. Gupta has no direct or indirect interest in any transaction or
proposed transaction required to be disclosed pursuant to Item 404(a) of
Regulation S-K.
Marc Greenberg, Blend's Head of Finance and principal financial officer, will
serve as Blend's interim principal accounting officer upon the commencement of
Mr. Chan's leave of absence on June 9, 2022 until Mr. Gupta joins Blend on June
14, 2022. Mr. Greenberg's compensation will not be changed in connection with
these additional duties and responsibilities.
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