Srinivasan Venkatramani
About Srinivasan Venkatramani
Srinivasan Venkatramani is Head of Product, Technology, and Customer Operations at Blend Labs, appointed in December 2024; he is 47 years old, with a B.S. in engineering (PSG College of Technology, 1999) and an MBA (Indian Institute of Management, 2001). He previously served as Chief Product & Technology Officer at PlanSource from December 2019 to December 2024 . During his tenure period at Blend so far, company performance showed: Q4 2024 total revenue up 15% YoY to $41.4M with non-GAAP operating margin at 13% ; Q3 2025 revenue was $32.9M (-1% YoY) with non-GAAP operating income of $4.6M vs. $0.3M a year ago, and non-GAAP gross margin of 78% .
Past Roles
| Organization | Role | Years | Strategic impact |
|---|---|---|---|
| Blend Labs, Inc. | Head of Product, Technology, and Customer Operations | Dec 2024 – Present | Leads product, technology, and customer ops across platform . |
| PlanSource Benefits Administration, Inc. | Chief Product & Technology Officer | Dec 2019 – Dec 2024 | Led product and tech for benefits administration platform . |
External Roles
- No public company board or other external roles for Mr. Venkatramani are disclosed in the 2025 proxy .
Fixed Compensation
| Year/Effective date | Base salary ($) | Target bonus ($) | Target bonus (%) | Actual bonus paid ($) | Notes |
|---|---|---|---|---|---|
| 2025 (current terms) | 450,000 | 200,000 | Not disclosed | — | Eligible based on performance objectives set by board/committee . |
| 2024 (partial year) | 25,962 | — | — | 1,000,000 | Paid $1,000,000 signing bonus post-start; at-will employment . |
- Signing bonus vesting/recoupment: the $1,000,000 signing bonus is “earned” only if he remains employed for at least one year from receipt; if he resigns for any reason or is terminated for cause before the one-year anniversary, he must repay the bonus within 30 days .
Performance Compensation
- Annual cash bonus program: For Mr. Venkatramani, eligibility is to receive an annual cash bonus with a $200,000 target based on performance objectives established by the board or its committee; specific metrics, weightings, and payout outcomes for 2024/2025 were not disclosed for him .
| Metric | Weighting | Target | Actual | Payout | Vesting/Timing |
|---|---|---|---|---|---|
| Not disclosed (board-set objectives) | — | — | — | — | Annual bonus subject to employment through payment date . |
- Equity awards: As of December 31, 2024, Mr. Venkatramani had no outstanding RSUs/PSUs or options listed; only Mr. Ghamsari and Mr. Jafari had outstanding awards at year-end 2024 .
Equity Ownership & Alignment
| Item | Detail |
|---|---|
| Total beneficial ownership | “—” shares; less than 1% ownership as of March 31, 2025 . |
| Ownership as % of shares outstanding | <1% . |
| Vested vs. unvested equity | No outstanding awards disclosed at 12/31/2024; none shown for him in grants/awards tables . |
| Options (exercisable/unexercisable) | None disclosed for him . |
| Pledging | Company policy prohibits holding in margin accounts; pledging requires Audit Committee pre-approval; no pledging footnote disclosed for Mr. Venkatramani (pledge disclosure pertains to Mr. Ghamsari) . |
| Hedging | Hedging and derivative transactions are prohibited unless pre-approved by Audit Committee . |
| Ownership guidelines | No executive stock ownership guideline for officers is disclosed in the 2025 proxy; not referenced for Mr. Venkatramani . |
Employment Terms
- Employment: At-will; joined December 2024 .
- Current base salary and bonus target: $450,000 base; $200,000 target annual cash bonus (performance objectives set by board/committee) .
- Signing bonus: $1,000,000 paid after employment start; must remain for one year from receipt to earn; repayment required if he resigns or is terminated for cause before one year .
- Severance (non–change-in-control): If terminated without cause (other than death/disability), eligible for six months’ base salary and six months of company-paid COBRA, subject to signing and not revoking a release .
- Change-in-control (CIC) severance: Double-trigger acceleration—if terminated without cause or resigns for good reason during the window beginning three months prior to and ending 12 months after a CIC, then 100% of all equity vests (performance awards deemed achieved at 100% of target unless the award specifies otherwise), subject to release and resignation from roles .
- Section 280G treatment: Best‑net cutback (no tax gross‑ups); benefits reduced if that yields better after-tax outcome .
Performance & Track Record (Company-level context during tenure)
| Metric | Q4 2024 | Q3 2025 |
|---|---|---|
| Total revenue ($M) | 41.4 | 32.9 |
| YoY revenue growth | +15% | -1% |
| Non-GAAP operating income ($M) | 5.2 | 4.6 |
| Non-GAAP gross margin (%) | 61% total; Software platform 79% | 78% total |
Commentary: Blend achieved improved profitability metrics exiting 2024, and sustained non-GAAP operating profitability in Q3 2025 while revenue was roughly flat/down modestly YoY .
Compensation Structure Analysis
- Cash-heavy onboarding: 2024 compensation for Mr. Venkatramani was predominantly a $1,000,000 signing bonus plus partial-year salary, with no equity grants disclosed for 2024—indicating a near-term cash emphasis vs. equity alignment at the point of hire .
- Retention features: The one‑year signing bonus earn condition and repayment requirement if he departs early create short-term retention alignment (reduces immediate voluntary departure risk) .
- CIC economics: Double-trigger 100% equity acceleration upon qualifying termination in a CIC window could create monetization/selling pressure if sizable equity is granted later; currently, no 2024 equity for him is disclosed .
- Shareholder-friendly terms: No 280G gross‑ups; best‑net cutback applies .
- Hedging/pledging controls: Hedging prohibited absent pre-approval; pledging requires Audit Committee pre-approval; margin accounts prohibited—mitigating misalignment risks .
Related Party Transactions
- No related party transactions involving Mr. Venkatramani are disclosed; related party items in the proxy relate to other directors/investors (e.g., Haveli) .
Risk Indicators & Red Flags
- Equity alignment gap (near-term): As of YE 2024, absence of disclosed equity awards and de minimis beneficial ownership may limit near-term equity alignment; this may change with future grants .
- CIC vesting acceleration: Full acceleration upon double-trigger termination in connection with a CIC can amplify payout sensitivity to M&A outcomes .
- Governance controls: Prohibitions on hedging/margin and pre-approval for pledging reduce alignment risks; no tax gross-ups .
Compensation Peer Group / Say-on-Pay
- The proxy does not disclose officer-specific peer groups or say‑on‑pay outcomes tied specifically to Mr. Venkatramani; the Compensation Committee retained Sequoia Consulting Group for market advice .
Expertise & Qualifications
- Credentials: Engineering and MBA degrees; CPTO experience at PlanSource; now leading product/technology/customer operations at Blend .
Work History & Career Trajectory
- PlanSource CPTO → Blend executive role; timeframes as above; additional prior roles not disclosed in proxy for Mr. Venkatramani .
Compensation Committee & Governance Context
- Compensation Committee members: Erin Lantz (Chair), Brian Sheth, Bryan E. Sullivan; independent under NYSE rules; responsible for executive comp and plan administration .
Investment Implications
- Alignment and retention: The one‑year signing bonus earn requirement supports short‑term retention; however, limited disclosed equity and de minimis ownership as of 3/31/2025 suggests alignment will depend on future equity grants and vesting design .
- Selling pressure outlook: With no outstanding equity reported at YE 2024, immediate insider selling pressure appears low for Mr. Venkatramani; future grants and any CIC events (double-trigger acceleration) could alter this dynamic .
- Pay-for-performance visibility: His annual bonus targets are set by the board but metrics for him were not disclosed; investors should monitor 2025–2026 disclosures for metric rigor and any shift toward equity-based incentives .
- Execution risk vs. organizational momentum: Company-level results improved in profitability in late 2024 and Q3 2025; the impact of Mr. Venkatramani’s product/technology leadership on revenue growth and operating leverage should be assessed against these baselines as more periods accrue .