Matthew Skaruppa - 15 Dec 2023 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: 15 Dec 2023
Net transactions value: +$205,485
Form type: 4
Filing time: 15 Dec 2023, 16:15:40 UTC
Previous filing: 04 Dec 2023
Next filing: 03 Jan 2024
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	$205,485	+14,250	+28%	$14.42	65,224	15 Dec 2023	Direct

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	-14,250	-8.8%	$0.000000	147,913	15 Dec 2023	Class A Common Stock	14,250	$14.42	Direct	F1

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

Explanation of Responses:

Id	Content
F1	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.