Duolingo (DUOL) 10% Owner Luis von Ahn Sells 46,682 Shares

What Happened

• Luis von Ahn, a 10% owner of Duolingo (DUOL), converted/exercised 46,682 derivative shares and immediately sold the same 46,682 shares in open-market trades on September 24, 2026. He paid $38.08 per share to acquire the shares (total cost $1,777,651) and received aggregate gross proceeds of $7,031,794 from the sales — a net difference of roughly $5,254,143 before taxes and fees. Transaction codes reported include C (conversion), M (exercise/conversion of derivative) and S (sale).

Key Details

• Transaction date: 2026-09-24; Form 4 filed 2026-09-28 (timely filing).
• Sales broken out by reported weighted-average prices:
  • 38,758 shares sold at $150.45 (proceeds $5,831,145) — sold under a Rule 10b5-1 plan (F1).
  • 7,024 shares sold at $151.42 (proceeds $1,063,588).
  • 900 shares sold at $152.29 (proceeds $137,061).
• Acquisition reported: 46,682 shares acquired via conversion/exercise at $38.08 (cost $1,777,651).
• Net change from this set of transactions: zero shares (46,682 acquired and 46,682 sold).
• Notable footnotes: sales executed in multiple trades with price ranges reported by broker (F2–F4); options reported fully vested (F5); conversion mechanics of Class B to Class A noted (F6).

Context

• This sequence reflects an exercise/conversion of derivatives followed by immediate market sales (effectively converting option value to cash). The presence of a Rule 10b5-1 plan for at least one sale indicates pre-established trading instructions for some of the sales, reducing the implication that the sales were based on contemporaneous insider knowledge. As a 10% owner, these transactions reflect a large holder’s liquidity actions rather than a routine employee purchase; total post-transaction holdings were not reported in the provided data.