Form 4: Duolingo CFO Matthew Skaruppa Sells Class A Common Stock

Duolingo's Chief Financial Officer, Matthew Skaruppa, executed sales of Class A Common Stock on May 17, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 17, 2024, Matthew Skaruppa, the CFO of Duolingo, Inc., sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on June 5, 2023.
• A total of 2,7004 shares were sold in multiple transactions at varying prices.
• The weighted average sale prices ranged from $176.55 to $178.655 per share.
• Following the reported transactions, Skaruppa directly owns 86,709 shares of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral event. It's a routine disclosure of stock sales under a pre-arranged trading plan. It doesn't necessarily indicate a positive or negative outlook for the company.

Industry Context

This filing is a routine disclosure of insider trading activity. It's common for executives to sell shares under pre-arranged trading plans to avoid accusations of trading on inside information.

Stakeholder Impact

• The stock sale could have a minor impact on shareholders due to the increased supply of shares in the market, but the effect is likely to be minimal given the relatively small volume of shares sold.

Key Dates