Erin Lantz
About Erin Lantz
Erin Lantz (age 45) is an independent director of Blend Labs, Inc. (BLND) since January 2023. She is Chief Revenue Officer at Ethos (fintech life insurance) since April 2020; previously VP & GM of Mortgages at Zillow Group from 2010 to October 2019. She holds a B.A. in Political Science, Philosophy, and Economics from the University of Pennsylvania and an M.B.A. from Harvard Business School. Her board-selected credentials include public company board expertise and deep financial/banking, technology, sales/marketing, regulatory/legal, and M&A/integration experience .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Zillow Group, Inc. | VP & GM, Mortgages | 2010–Oct 2019 | Led mortgage marketplace growth; significant fintech/consumer lending exposure |
| Washington Federal, Inc. | Director | Sep 2016–Aug 2018 | Bank governance experience; committee roles not disclosed |
| TrueCar, Inc. | Director | Nov 2016–May 2024 | Digital marketplace governance; committee roles not disclosed |
| Shelter Acquisition Corp. | Director | Jul 2021–Dec 2022 | SPAC in proptech; board oversight experience |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| Ethos | Chief Revenue Officer | Apr 2020–present | Fintech life insurance CRO; commercial and revenue leadership |
| Meritage Homes Corporation | Director | Current | Public U.S. homebuilder board service |
Board Governance
- Committee assignments: Chair, Compensation Committee; Member, Audit Committee .
- Independence: Determined independent by BLND’s Board under NYSE rules (5 of 7 directors are independent) .
- Attendance: In 2024, the Board held five meetings and each director attended at least 75% of Board and applicable committee meetings .
- Years of service: On BLND’s board since January 2023 .
- Executive sessions: Non‑employee directors (and independent directors, if any non‑employees are not independent) meet in executive session periodically, at least twice per year .
- Lead Independent Director: None designated; Board cites majority independent and committee oversight as counterbalance .
- Controlled company: BLND is a controlled company under NYSE rules due to Nima Ghamsari’s voting control; BLND states intent to comply with NYSE governance requirements but may elect exemptions in future .
Fixed Compensation
| Component | Amount (USD) | Period/Notes |
|---|---|---|
| Fees Paid or Earned in Cash | $105,000 | FY2024 (mix reflects pro‑rated prior policy and amended policy) |
| Stock Awards (RSUs grant‑date fair value) | $205,286 | FY2024 RSU grants (fair value methodology per proxy) |
| Total Director Compensation | $310,286 | FY2024 |
- Amended Outside Director Compensation Policy (effective June 12, 2024): Annual cash retainer $35,000; 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; combined annual director cash+equity cap $500,000 .
Performance Compensation
| Equity Award | Grant Date | Shares | Grant-Date Fair Value (USD) | Vesting Schedule |
|---|---|---|---|---|
| Annual RSU Award | Jun 12, 2024 | 50,000 | $205,286 | 100% vests on Jun 12, 2025 (earlier of 1‑yr anniversary or day prior to next annual meeting), subject to continued service |
- Policy mechanics: Each non‑employee director receives an Annual Award of 50,000 RSUs at each annual meeting; initial pro‑rated RSU grant for new directors after the amendment; full vesting accelerates upon change in control unless otherwise specified .
Other Directorships & Interlocks
| Company | Role | Overlap/Interlock Relevance |
|---|---|---|
| Meritage Homes Corporation | Director | No BLND-related transactions disclosed; industry adjacency in housing |
| TrueCar, Inc. (prior) | Director | Ended May 2024; no BLND-related transactions disclosed |
| Washington Federal, Inc. (prior) | Director | Ended Aug 2018; no BLND-related transactions disclosed |
| Shelter Acquisition Corp. (prior) | Director | Ended Dec 2022; no BLND-related transactions disclosed |
- Related party transactions: 2024 disclosures focus on Haveli Investments and Brian Sheth’s designation under the Investment Agreement; no transactions involving Erin Lantz identified .
Expertise & Qualifications
- Public company board, financial/banking, technology, sales/marketing, regulatory/legal, and M&A/integration expertise as highlighted by BLND’s skills matrix .
- Education: B.A. (PPE), University of Pennsylvania; M.B.A., Harvard Business School .
- Operating leadership: CRO at Ethos; senior mortgage leadership at Zillow .
Equity Ownership
| Holder | Class A Shares Beneficially Owned | % Class A | RSUs Outstanding | % Total Voting Power |
|---|---|---|---|---|
| Erin Lantz | 37,760 | <1% | 50,000 (vest 6/12/2025) | <1% |
- Pledging/Hedging: BLND’s Insider Trading Policy prohibits hedging and margin accounts; pledging requires Audit Committee pre‑approval. No pledging by Lantz disclosed; note that Ghamsari’s shares are pledged (company‑level governance context) .
Compensation Committee Analysis
- Composition and independence: Compensation Committee comprised of Lantz (Chair), Sheth, Sullivan; each member meets SEC/NYSE independence standards and is a non‑employee director under Rule 16b‑3 .
- Consultant: Committee retained Sequoia Consulting Group for market information and compensation advice; Sequoia provided no non‑compensation services to BLND in FY2024 (reducing consultant conflict risk) .
- Responsibilities: Sets/approves executive compensation, administers equity/incentive plans, recommends non‑employee director compensation, and reviews succession planning .
Governance Assessment
- Strengths:
- Independent director with relevant fintech, mortgage, and homebuilding domain expertise; chaired Compensation Committee and serves on Audit—signals high engagement and governance influence .
- Attendance threshold met; RSU-based equity aligns director pay with shareholder outcomes; cash/equity mix under amended policy reduces fixed cash and standardizes equity grants .
- Watch items / RED FLAGS (board-level context):
- Controlled company structure; absence of a Lead Independent Director—places greater weight on committee rigor and independent director cohesion .
- Investor-designated director (Brian Sheth) via Haveli Investment Agreement; while committee independence standards are met, investor influence and preferred stock class rights merit continued monitoring for potential conflicts on compensation and strategic decisions .
- Company hedging/pledging policy is robust, but Ghamsari’s pledged shares represent a governance risk if margin calls occur; no such pledging is disclosed for Lantz .
- Overall: Erin Lantz’s committee leadership (Compensation Chair; Audit member), independence, and cross‑sector experience support board effectiveness and investor confidence. No related‑party transactions or Section 16 issues are disclosed for Lantz in 2024, and director pay appears aligned with updated policy emphasizing standardized RSUs and transparent committee fees .