Form 4: Duolingo CFO Matthew Skaruppa Sells Shares Under 10b5-1 Trading Plan
SEC Form 4 Filing
Duolingo's Chief Financial Officer, Matthew Skaruppa, executed multiple sales of Class A Common Stock on January 13, 2025, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On January 13, 2025, Matthew Skaruppa, the CFO of Duolingo, sold shares of Class A Common Stock.
- The sales were executed under a pre-arranged Rule 10b5-1 trading plan adopted on May 22, 2024.
- A total of 4,564 shares were sold in multiple transactions at varying prices.
- The prices ranged from $307.48 to $316.59 per share.
- Following the transactions, Skaruppa directly owns 63,266 shares of Class A Common Stock.
Sentiment
Score: 5
Explanation: This is a neutral event. The stock sale was pre-planned and doesn't necessarily reflect a change in the executive's confidence in the company.
Industry Context
This is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of insider trading.
Stakeholder Impact
- The stock sale could have a minor impact on shareholders due to the increased supply of shares in the market.
Key Dates
| Date | Description |
|---|---|
| 2024-05-22 | Date of adoption of the Rule 10b5-1 trading plan. |
| 2025-01-13 | Date of the stock sales. |
| 2025-01-14 | Date of the SEC filing. |
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