Chen Stephen C. 4

What Happened
Stephen C. Chen, General Counsel of Duolingo, exercised stock options to acquire 58 shares at an exercise price of $14.42 per share on June 17, 2026, for a total cash outlay of $836. The filing also shows a simultaneous disposition of 58 derivative shares at $0.00 (i.e., those 58 shares were surrendered/withheld rather than sold on the open market). Footnote indicates the options were fully vested and exercisable.

Key Details

• Transaction date: 2026-06-17; Filing date: 2026-06-18.
• Exercise: 58 shares @ $14.42 — total paid $836 (code M = option exercise).
• Disposition: 58 derivative shares @ $0.00 (reported as disposed).
• Footnote F1: options are fully vested and exercisable.
• Shares owned after transaction: not specified in the provided filing excerpt.
• No late-filing flag indicated in the provided data.

Context
Code M denotes an option exercise. The simultaneous $0.00 disposition commonly reflects shares withheld or surrendered to cover exercise costs or tax withholding rather than an open-market sale; it does not signal a regular sale for cash. Such exercises with withholding are routine for executives and do not, by themselves, indicate a change in conviction about the stock.