Form 4: Duolingo's Chief Technology Officer Severin Hacker Sells Shares Under 10b5-1 Trading Plan

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

Summary

• On March 1, 2024, Severin Hacker, the Chief Technology Officer and Co-Founder of Duolingo, sold shares of Class A Common Stock.
• The sales were executed under a Rule 10b5-1 trading plan adopted on June 2, 2023.
• A total of 10,000 shares were acquired at $0 and 10,000 shares were disposed of at prices ranging from $231.9783 to $237.2045.
• The transactions resulted in a decrease in the number of directly held Class A Common Stock to 0, while indirectly held shares remain at 3,034,917.
• The reporting person also holds 43,730 shares of Class B Common Stock, each convertible into one share of Class A Common Stock.

Sentiment

Score: 5

Explanation: This is a neutral disclosure of insider trading activity under a pre-arranged 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 is common for executives to use 10b5-1 trading plans to sell shares over time to avoid accusations of trading on inside information.

Stakeholder Impact

• The sale of shares by a company executive could be perceived negatively by some shareholders, although the existence of a 10b5-1 plan mitigates this concern.

Key Dates