Matthew Skaruppa - 11 Jan 2024 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: 11 Jan 2024
Net transactions value: +$64,371
Form type: 4
Filing time: 12 Jan 2024, 19:17:18 UTC
Previous filing: 03 Jan 2024
Next filing: 05 Feb 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	$64,371	+4,464	+6.8%	$14.42^*	69,688	11 Jan 2024	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	-4,464	-3.2%	$0.000000	135,449	11 Jan 2024	Class A Common Stock	4,464	$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.