Jason Ream
About Jason Ream
Jason Ream, age 53, was appointed Head of Finance and Administration (and designated principal financial officer after the Q2 2025 10‑Q filing) at Blend Labs on August 7, 2025; he previously served as Senior Managing Director at Haveli Investments and as CFO at SailPoint and SolarWinds, among other finance roles. He holds an A.B. in Mathematics from Amherst College and certified BLND’s Q3 2025 Form 10‑Q under SOX 302 as principal financial officer, indicating immediate responsibility for controls and reporting . Compensation includes a $400,000 base salary, a target annual bonus of $250,000 tied to company‑set performance objectives, and a 2,200,000‑share RSU award with four‑year time‑based vesting; no executive‑specific performance metrics (TSR/revenue/EBITDA) were disclosed at appointment .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Haveli Investments, L.P. | Senior Managing Director | Mar 2022–Aug 2025 | Led PE investments in technology/software; senior leadership experience in value creation and governance . |
| SailPoint Technologies Holdings, Inc. | CFO; Special Advisor | CFO: May 2019–Aug 2021; Advisor: Sep 2021–Feb 2022 | Public company CFO experience in enterprise security; transitioned to advisory during sale/integration period . |
| Mitratech Holdings, Inc. | CFO | Jul 2018–May 2019 | Private software CFO; scaled legal/compliance software operations . |
| Relativity ODA, LLC | CFO | Apr 2016–Mar 2018 | Private software CFO in e‑discovery; operational and finance transformation . |
| SolarWinds Corporation | EVP & CFO; VP roles | CFO: Oct 2013–Apr 2016; VP Growth Strategy Oct 2012–Oct 2013; VP, Tools Dec 2011–Oct 2012; tenure Apr 2009–Apr 2016 | Public company CFO; growth strategy and product operating roles in IT management software . |
| J.P. Morgan | Executive Director, Investment Banking | Jul 2006–Jan 2009 | Coverage/execution across tech deals; capital markets and M&A . |
| UBS, Piper Jaffray, Credit Suisse First Boston | Investment banking roles | Jul 1999–Jul 2006 | Early career banking roles; transaction execution and capital formation . |
External Roles
| Organization | Role | Years | Notes |
|---|---|---|---|
| — | — | — | No current external directorships disclosed at appointment; prior roles are operating/finance positions rather than board service . |
Fixed Compensation
| Component | 2025 Terms | Notes |
|---|---|---|
| Base Salary | $400,000 | Per employment offer letter dated Aug 6, 2025 . |
| Benefits | Company‑sponsored employee benefits; PTO | Standard employee benefits; subject to modification . |
Performance Compensation
Annual Bonus (Cash)
| Metric | Weighting | Target | Actual | Payout Mechanics | Vesting/Timing |
|---|---|---|---|---|---|
| Company‑set performance objectives (Board/Committee discretion) | Not disclosed | $250,000 | Not disclosed | Paid when practicable after determination, contingent on continued employment through payment date | Annual; subject to review/adjustment over time . |
Equity Awards (RSUs)
| Award Type | Grant Size | Vesting Schedule | Key Dates | Conditions |
|---|---|---|---|---|
| Time‑based RSU Award | 2,200,000 shares of Class A common stock | 25% after 12 months; remaining 75% vests in equal quarterly installments over next 36 months | Quarterly vesting on first trading day on/after Feb 20, May 20, Aug 20, Nov 20 | Subject to 2021 Equity Incentive Plan and applicable award agreement; continued service required . |
Equity Ownership & Alignment
| Item | Detail | Notes |
|---|---|---|
| Beneficial Ownership (shares) | Not disclosed in proxy as of 3/31/2025 (joined 8/7/2025) | NEO disclosures pre‑date appointment; no Form 4 data referenced in filings reviewed . |
| RSU Grant Magnitude | 2,200,000 RSUs | Appointment equity with four‑year vesting . |
| Potential Ownership vs. Outstanding | ~0.86% if fully vested/settled (2,200,000 ÷ 254,866,644 Class A shares outstanding at 4/14/2025) | Derived from shares outstanding at record date; illustrates alignment scale . |
| Vested vs. Unvested | Unvested through first 12 months; first 25% tranche after Aug 7, 2026 | Time‑based retention structure . |
| Pledging/Hedging | Company policy prohibits margin accounts and generally prohibits hedging without Audit Committee pre‑approval; pledging requires Audit Committee pre‑approval | No Ream‑specific pledging disclosed; policy overview per proxy . |
| Ownership Guidelines | Not disclosed for executives in proxy excerpt | No Ream‑specific guideline compliance disclosed . |
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Start Date | August 7, 2025 | 8‑K appointment and offer letter . |
| Title/Reporting | Head of Finance & Administration; reports to Head of Blend; assumes principal financial officer post Q2 2025 10‑Q filing | . |
| Employment Status | At‑will | . |
| Severance (non‑CIC) | If terminated without Cause (other than death/disability): 6 months base salary + 6 months company‑paid COBRA (subject to signed release) | . |
| CIC Severance Eligibility | Eligible to enter Company’s Form of Change in Control and Severance Agreement | . |
| CIC Severance Terms (Form) | Double‑trigger within CIC Period (3 months before to 12 months after CIC): 100% acceleration of unvested equity; performance awards deemed at 100% of target unless otherwise specified | . |
| 280G Treatment | Best‑results cutback (no excise tax gross‑up): reduce payments to avoid 4999 excise tax if after‑tax value is greater | . |
| Indemnification | Standard indemnification agreement per S‑1 exhibit | . |
| Arbitration | Binding arbitration agreement; waives jury trial; scope includes compensation, contract, wrongful termination, discrimination/harassment claims (subject to applicable law) | . |
| Proprietary Information/Invention Assignment | State‑specific invention assignment carve‑outs included (e.g., CA Labor Code §2870; DE Title 19 §805) | . |
Investment Implications
- Pay‑for‑performance alignment: Large, time‑based RSU award (2.2M shares) coupled with a discretionary, objectives‑based annual bonus aligns compensation with tenure and company performance; lack of disclosed quantitative bonus metrics limits external evaluation of pay‑for‑performance rigor .
- Retention and selling pressure: The 12‑month cliff and subsequent quarterly vesting cadence (Feb/May/Aug/Nov trading‑day schedules) create clear retention incentives and predictable potential liquidity windows; initial vest occurs after Aug 2026, reducing near‑term selling pressure .
- Change‑of‑control economics: Standard double‑trigger CIC terms provide full equity acceleration at target for performance awards without cash multiples, and 280G “best results” cutback avoids tax gross‑ups—shareholder‑friendly relative to golden parachutes with gross‑ups .
- Governance/risk posture: Company insider trading and pledging policies prohibit margin accounts and require Audit Committee pre‑approval for pledging/hedging; no Ream‑specific pledging disclosed, reducing alignment risk. SOX 302 certification as PFO in Q3 2025 indicates Ream’s immediate accountability for controls/reporting .
- Execution track record: Deep public/private CFO experience across security and infrastructure software (SailPoint, SolarWinds, Relativity, Mitratech) and PE governance (Haveli) suggests strong operating discipline; however, BLND‑specific performance outcomes under Ream’s tenure are not yet disclosed, so monitoring quarterly filings for bonus metrics and RSU vesting progress is key .