Form 4: Duolingo CFO Matthew Skaruppa Sells Shares to Cover Tax Obligations

Duolingo's Chief Financial Officer, Matthew Skaruppa, sold 3,284 shares of Class A Common Stock on August 15, 2024, to cover tax obligations related to vesting Restricted Stock Units.

Summary

• On August 15, 2024, Matthew Skaruppa, the Chief Financial Officer of Duolingo, Inc., sold 3,284 shares of Class A Common Stock.
• The sale was executed at a price of $199.5 per share.
• This transaction was conducted to satisfy tax withholding obligations associated with the vesting of Restricted Stock Units (RSUs).
• Following the transaction, Skaruppa directly owns 92,447 shares of Duolingo's Class A Common Stock.

Sentiment

Score: 7

Explanation: The document is a routine SEC filing related to stock transactions for tax purposes, which is neutral to slightly positive as it indicates compensation being realized.

Industry Context

Sales of shares to cover tax obligations upon vesting of restricted stock units are a common practice among corporate executives.

Stakeholder Impact

• The sale of shares by a company executive could have a minor impact on shareholder sentiment, but is unlikely to have a significant effect given the context of tax obligations.

Key Dates