Form 4: Duolingo's Chief Technology Officer Severin Hacker Sells Shares

Severin Hacker, Duolingo's Chief Technology Officer and Co-Founder, executed multiple sales of Class A Common Stock on May 1, 2024, under a pre-arranged Rule 10b5-1 trading plan.

Summary

• On May 1, 2024, Severin Hacker, the Chief Technology Officer and Co-Founder of Duolingo, sold shares of Class A Common Stock.
• The sales were conducted under a Rule 10b5-1 trading plan adopted on June 2, 2023.
• A total of 10,000 shares were converted from Class B Common Stock to Class A Common Stock.
• Multiple transactions occurred at varying prices, ranging from $218.95 to $231.72 per share.
• The sales resulted in a decrease in the number of directly held Class A Common Stock and a change in the number of indirectly held shares through the SBH Trust.
• Following the reported transactions, Severin Hacker directly owns 43,730 shares of Class A Common Stock and indirectly owns 200 shares of Class A Common Stock through a trust.

Sentiment

Score: 5

Explanation: The document is a standard SEC Form 4 filing, indicating insider trading activity. The sentiment is neutral as it simply reports transactions.

Industry Context

Insider sales are a common occurrence, and the existence of a pre-arranged trading plan suggests the sales were planned in advance and not based on any specific non-public information.

Stakeholder Impact

• The stock sales by a high-profile executive could create uncertainty among shareholders.

Key Dates