Stephen C. Chen - Feb 28, 2022 Form 4 Insider Report for Duolingo, Inc. (DUOL)

Role: General Counsel
Signature: /s/ Stephen C. Chen
Stock symbol: DUOL
Transactions as of: Feb 28, 2022
Transactions value $: $72,100
Form type: 4
Date filed: 3/2/2022, 04:00 PM
Previous filing: Feb 24, 2022
Next filing: May 17, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DUOL	Class A Common Stock	Options Exercise	$72.1K	+5K	+113.79%	$14.42^*	9.39K	Feb 28, 2022	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	DUOL	Stock Option (Right to Buy)	Options Exercise	$0	-5K	-4.08%	$0.00	118K	Feb 28, 2022	Class A Common Stock	5K	$14.42	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Includes 3,484 RSUs.
F2	25% of the shares subject to the option vest on the first anniversary measured from March 2, 2020 (the "Vesting Commencement Date"), and 1/48th of the total number of shares vest monthly thereafter, such that 100% of the shares subject to the option will be fully vested and exercisable on the fourth anniversary of the Vesting Commencement Date.