Form 4: Duolingo CFO Matthew Skaruppa Executes Stock Option and Sells Shares Under 10b5-1 Plan

Duolingo's Chief Financial Officer, Matthew Skaruppa, exercised stock options and sold shares of Class A Common Stock on May 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 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 6,800 shares of Class A Common Stock in multiple transactions at weighted average prices ranging from $219.3614 to $231.75.
• These sales were executed under a pre-existing 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 103,449 derivative securities (stock options).

Sentiment

Score: 5

Explanation: The sentiment is neutral as it reflects routine insider trading activity under a pre-arranged plan. There is no indication of positive or negative implications for the company.

Industry Context

This filing is a routine disclosure of insider transactions and is common for executives of publicly traded companies. The use of a 10b5-1 plan indicates that the transactions were pre-planned and not based on any inside information at the time of the trades.

Key Dates