Matthew Skaruppa - 21 Jun 2022 Form 4 Insider Report for Duolingo, Inc. (DUOL)

Role
Chief Financial Officer
Signature
/s/ Stephen Chen, as Attorney-in-Fact for Matthew Skaruppa
Issuer symbol
DUOL
Transactions as of
21 Jun 2022
Net transactions value
-$797,182
Form type
4
Filing time
22 Jun 2022, 17:42:20 UTC
Previous filing
10 Jun 2022
Next filing
19 Jul 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 $112,490 +7,801 +14% $14.42* 61,958 21 Jun 2022 Direct
transaction DUOL Class A Common Stock Sale $797,182 -7,801 -13% $102.19 54,157 21 Jun 2022 Direct F1, F2

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 $112,490 -7,801 -2.9% $14.42* 258,163 21 Jun 2022 Class A Common Stock 7,801 $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 sale price calculated by the broker executing the sales. These shares were sold in multiple transactions at prices ranging from $102.00 to $102.67, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.
F3 25% of the shares subject to the option vest on the first anniversary measured from February 24, 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.