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

Role: General Counsel
Signature: /s/ Stephen C. Chen
Issuer symbol: DUOL
Transactions as of: 28 Feb 2022
Net transactions value: +$72,100
Form type: 4
Filing time: 02 Mar 2022, 16:00:41 UTC
Previous filing: 24 Feb 2022
Next filing: 17 May 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DUOL	Class A Common Stock	Options Exercise	$72,100	+5,000	+114%	$14.42^*	9,394	28 Feb 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	-5,000	-4.1%	$0.000000	117,501	28 Feb 2022	Class A Common Stock	5,000	$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.