Form 4: Duolingo CFO Matthew Skaruppa Executes Stock Option and Sells Shares
SEC Form 4 Filing
Duolingo's CFO, Matthew Skaruppa, exercised stock options and sold Class A Common Stock on April 1, 2024, according to a recent SEC filing.
Summary
- On April 1, 2024, Matthew Skaruppa, the CFO of Duolingo, Inc., exercised a stock option to acquire 8,000 shares of Class A Common Stock at a price of $14.42 per share.
- Simultaneously, Skaruppa sold a total of 8,000 shares of Class A Common Stock in multiple transactions at weighted average prices ranging from $216.5593 to $220.4224.
- These sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on June 9, 2023.
- Following these transactions, Skaruppa directly owns 64,523 shares of Class A Common Stock and 111,449 derivative securities.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reflects routine insider trading activity under a pre-arranged plan. There's no indication of positive or negative implications for the company.
Industry Context
This filing is a routine disclosure of insider transactions and doesn't necessarily indicate a change in the company's outlook or performance. It is common for executives to have pre-arranged trading plans to diversify their holdings and manage personal finances.
Key Dates
| Date | Description |
|---|---|
| 06/09/2023 | Date of adoption of Rule 10b5-1 trading plan |
| 04/01/2024 | Date of stock option exercise and stock sales |
| 04/02/2024 | Date of Form 4 filing |
| 03/10/2030 | Expiration date of stock options |
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