Duolingo, Inc. — Director's Dealing 2023

Feb 1, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: Duolingo, Inc. (DUOL)
CIK: 0001562088
Period of Report: 2023-01-27

Reporting Person: Glance Natalie (Chief Engineering Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-01-27	Class A Common Stock	M	100	$7.11	Acquired	135485	Direct
2023-01-27	Class A Common Stock	S	100	$94	Disposed	135385	Direct
2023-01-30	Class A Common Stock	M	500	$7.11	Acquired	135885	Direct
2023-01-30	Class A Common Stock	S	500	$94.036	Disposed	135385	Direct
2023-01-31	Class A Common Stock	M	2400	$7.11	Acquired	137785	Direct
2023-01-27	Class A Common Stock	S	2400	$94.3508	Disposed	135385	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2023-01-27	Stock Option (Right to Buy)	$7.11	M	100	Disposed	2028-04-20	Class A Common Stock (100.0)	Direct
2023-01-30	Stock Option (Right to Buy)	$7.11	M	500	Disposed	2028-04-20	Class A Common Stock (500.0)	Direct
2023-01-31	Stock Option (Right to Buy)	$7.11	M	2400	Disposed	2028-04-20	Class A Common Stock (2400.0)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	130	Indirect

Footnotes

F1: The sale was effected pursuant to the Reporting Person's Rule 10b5-1 trading plan.

F2: The price reported in Column 4 is a weighted average sale price calculated by the broker executing the sales. These shares were sold in multiple transactions at prices ranging from $94.01 to $94.12, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F3: The price reported in Column 4 is a weighted average sale price calculated by the broker executing the sales. These shares were sold in multiple transactions at prices ranging from $94.00 to $94.56, inclusive. The Reporting Person hereby undertakes to provide to the Securities and Exchange Commission staff, the Issuer, or a security holder of the Issuer, upon request, full information regarding the number of shares sold at each respective price within the range set forth in this footnote.

F4: The shares subject to the option are fully vested and exercisable.