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

Role
Chief Financial Officer
Signature
/s/ Stephen Chen, as Attorney-in-Fact for Matthew Skaruppa
Stock symbol
DUOL
Transactions as of
Jun 21, 2022
Transactions value $
-$797,182
Form type
4
Date filed
6/22/2022, 05:42 PM
Previous filing
Jun 10, 2022
Next filing
Jul 19, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction DUOL Class A Common Stock Options Exercise $112K +7.8K +14.4% $14.42* 62K Jun 21, 2022 Direct
transaction DUOL Class A Common Stock Sale -$797K -7.8K -12.59% $102.19 54.2K Jun 21, 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 -$112K -7.8K -2.93% $14.42* 258K Jun 21, 2022 Class A Common Stock 7.8K $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.