Eric Woersching

About Eric Woersching

Eric Woersching (age 41 as of March 31, 2025) has served as an independent director of Blend Labs, Inc. since June 2024. He is a Stanford-trained engineer (B.S. and M.S. in Electrical Engineering) and a Chartered Financial Analyst (CFA), with prior operating, venture investing, and advisory roles in technology companies; he currently consults for early-stage software companies, focusing on corporate strategy, FP&A, analytics, operations, and executive recruiting . His board biography highlights public-company board experience, financial/banking expertise, technology expertise, and M&A/investments/integration expertise, which were central to his nomination rationale .

Past Roles

External Roles

Board Governance

• Independence: Board determined Woersching is independent under NYSE rules; Blend is a “controlled company” but states it intends to comply with NYSE governance requirements .
• Committee assignments (2025): Audit Committee member; Nominating & Corporate Governance Committee member. Audit is chaired by Bryan E. Sullivan; Nominating is chaired by Gerald Chen .
• Meetings and attendance (2024): Board met 5 times; each director attended at least 75% of board and relevant committee meetings; directors encouraged (not required) to attend annual stockholder meeting; all directors virtually attended the 2024 meeting .
• Committee meeting cadence (2024): Audit Committee held 4 meetings; Compensation Committee held 3; Nominating & Corporate Governance Committee held 4 .
• Executive sessions: Non-employee directors meet in executive sessions without management at least twice per year (independent directors also meet if any non-employee directors are not independent) .

Committee Memberships (BLND)

Fixed Compensation

• Director compensation structure (Amended Policy, effective on annual meeting date in 2024): Annual cash retainer $35,000; no per-meeting fees. Committee fees: Audit chair $20,000; Audit member $10,000; Nominating chair $10,000; Nominating member $5,000; Compensation chair $15,000; Compensation member $7,500. Annual combined cash+equity cap $500,000 (reduced from $800,000) .
• 2024 actuals for Woersching (prorated due to mid‑year start): Cash $27,476; Stock awards $132,000; Total $159,476 .

2024 Director Compensation – Eric Woersching

Performance Compensation

• Equity structure (Amended Policy): Initial RSU award upon becoming a non-employee director equals 50,000 multiplied by the fraction of days until the next annual meeting; vests the day prior to that meeting. Annual RSU award is 50,000 shares each year, vesting at the earlier of one year from grant or the day prior to the next annual meeting. Change-in-control: outstanding director equity fully vests unless otherwise specified .
• 2024 equity for Woersching: 50,000 RSUs granted 6/12/2024; scheduled to vest 6/12/2025 .

RSU Awards – Eric Woersching

No performance-based metrics (TSR, revenue, EBITDA, ESG) are disclosed for director equity; awards are time-based per policy .

Other Directorships & Interlocks

Expertise & Qualifications

• Public-company board expertise; financial/banking expertise; technology expertise; M&A/investments/integration expertise (as marked in BLND’s skill matrix) .
• Stanford B.S./M.S. in Electrical Engineering; CFA charterholder .
• Selected for BLND board for financial/technology expertise and operational experience across multiple tech companies .

Equity Ownership

• Beneficial ownership: No Class A or Class B shares reported as beneficially owned by Woersching as of March 31, 2024 and March 31, 2025 (less than 1%) .
• Outstanding awards: 50,000 unvested RSUs as of December 31, 2024, vesting on June 12, 2025 .
• Hedging/pledging: Insider Trading Policy prohibits short sales and derivative hedging unless Audit Committee pre-approves; margin accounts prohibited; pledging requires Audit Committee pre-approval .

Beneficial Ownership – Eric Woersching

Outstanding Equity Awards – Eric Woersching (as of 12/31/2024)

Governance Assessment

• Board effectiveness: Woersching is seated on two key committees (Audit; Nominating & Governance), suggesting meaningful engagement in financial oversight, related-party review, risk/privacy oversight, and board composition/performance processes .
• Independence and attendance: Confirmed independent under NYSE rules; attended at least 75% of board and committee meetings in 2024, meeting governance expectations .
• Alignment: He received time-based RSUs and prorated cash/fees under the Amended Policy; however, he reported no beneficial ownership as of both March 31, 2024 and 2025, which may indicate limited personal capital at risk absent vesting or open-market purchases .
• Compensation structure signals: The 2024 Amended Policy reduced the annual compensation cap to $500,000 and shifted directors to fixed RSU grants (50,000) plus a modest $35,000 cash retainer and committee fees, aligning with contemporary governance practices and reducing guaranteed cash vs. the prior $300,000 annual retainer structure used in 2023 .
• Conflicts and related-party exposure: The proxy lists Haveli-related preferred/warrant and board designation rights (director Brian Sheth), but no related-party transactions involving Woersching; Audit Committee oversees related-party reviews, and policies are in place to pre-approve or restrict certain transactions .
• RED FLAGS: Controlled company risk (dominant voting control by Chair/Co‑Founder) can reduce minority shareholder protections if exemptions are relied upon; Blend states it intends to comply with NYSE requirements. No pledging by Woersching disclosed; hedging transactions require Audit Committee pre-approval, mitigating misalignment risk .