Stephen C. Chen - Jun 8, 2022 Form 4 Insider Report for Duolingo, Inc. (DUOL)

Role
General Counsel
Signature
/s/ Stephen C. Chen
Stock symbol
DUOL
Transactions as of
Jun 8, 2022
Transactions value $
-$360,198
Form type
4
Date filed
6/10/2022, 04:50 PM
Previous filing
May 18, 2022
Next filing
Jun 22, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DUOL Class A Common Stock Options Exercise $57.8K +4.01K +14.12% $14.42* 32.4K Jun 8, 2022 Direct
transaction DUOL Class A Common Stock Sale -$409K -4.01K -12.37% $102.12 28.4K Jun 8, 2022 Direct F1, F2
transaction DUOL Class A Common Stock Options Exercise $1.44K +100 +0.35% $14.42* 28.5K Jun 9, 2022 Direct
transaction DUOL Class A Common Stock Sale -$10.2K -100 -0.35% $102.12 28.4K Jun 9, 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 -4.01K -3.41% $0.00 113K Jun 8, 2022 Class A Common Stock 4.01K $14.42 Direct F3
transaction DUOL Stock Option (Right to Buy) Options Exercise $0 -100 -0.09% $0.00 113K Jun 9, 2022 Class A Common Stock 100 $14.42 Direct F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The sales reported in this Form 4 were effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.
F2 The price reported in Column 4 is a weighted average price calculated by the broker executing the sales transactions. These shares were sold as part of a block trade in multiple transactions at sales prices ranging from $102.00 to $102.67, and the Reporting Person undertakes to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate sales price.
F3 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.