VON AHN LUIS (President & CEO, Co-Founder) sold 40.98K shares of DUOLINGO, INC. on the open market

Open‑market sale worth $6.17M. Review remaining holdings and any 10b5‑1 plan disclosures.

S · 4 sales

VON AHN LUIS

Filed: 9/23/2026ACC: 0001628280-26-063251

InsiderVON AHN LUISCIK 1829259

→

IssuerDUOLINGO, INC.CIK 1562088

DirectorOfficer10% Owner· President & CEO, Co-Founder

Since Jul 2021

-40.98K

Net shares

Net seller

$6.17M

Total sold

Open market trades

0B · 4S

Total transactions

81.96K acquired · 122.94K disposed

Non-Derivative Transactions7

Class A Common Stock

Direct

C · Conversion

+27.96K

Price / share

$14.42

Trade value

$403.18K

% of position

New position

9/21/2026

0.00→27.96K

Class A Common Stock

Direct

C · Conversion

+9.41K

Price / share

$38.08

Trade value

$358.18K

% of position

33.6%

9/21/2026

27.96K→37.37K

Class A Common Stock

Direct

S · Sale

−33.26K

Price / share

$150.46

Trade value

$5M

% of position

89.0%

9/21/2026

37.37K→4.11K

Class A Common Stock

Direct

S · Sale

−4.11K

Price / share

$151.07

Trade value

$620.75K

% of position

New position

9/21/2026

4.11K→0.00

Class A Common Stock

Direct

C · Conversion

+3.61K

Price / share

$38.08

Trade value

$137.62K

% of position

New position

9/22/2026

0.00→3.61K

Class A Common Stock

Direct

S · Sale

−200.00

Price / share

$150.00

Trade value

$30K

% of position

5.5%

9/22/2026

3.61K→3.41K

Class A Common Stock

Direct

S · Sale

−3.41K

Price / share

$152.02

Trade value

$519K

% of position

New position

9/22/2026

3.41K→0.00

Total

Net shares

+0.00

Net value

-$5.27M

Security	Date	Type	Shares	Price / Share	Trade Value	% of Position	Held Before	Held After
Class A Common Stock Direct	9/21/2026	C · Conversion	+27.96K	$14.42	$403.18K	New position	0.00	27.96K
Class A Common Stock Direct	9/21/2026	C · Conversion	+9.41K	$38.08	$358.18K	33.6%	27.96K	37.37K
Class A Common Stock Direct	9/21/2026	S · Sale	−33.26K	$150.46	$5M	89.0%	37.37K	4.11K
Class A Common Stock Direct	9/21/2026	S · Sale	−4.11K	$151.07	$620.75K	New position	4.11K	0.00
Class A Common Stock Direct	9/22/2026	C · Conversion	+3.61K	$38.08	$137.62K	New position	0.00	3.61K
Class A Common Stock Direct	9/22/2026	S · Sale	−200.00	$150.00	$30K	5.5%	3.61K	3.41K
Class A Common Stock Direct	9/22/2026	S · Sale	−3.41K	$152.02	$519K	New position	3.41K	0.00
Total			+0.00		-$5.27M

Derivative Transactions9

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

27.96K shares

−27.96K

Strike price

14.42

Held after

0.00

Exercisable

—

9/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

27.96K shares

+27.96K

Strike price

Held after

3.40M

Exercisable

—

9/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

27.96K shares

−27.96K

Strike price

Held after

3.37M

Exercisable

—

9/21/2026

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

9.41K shares

−9.41K

Strike price

38.08

Held after

160.34K

Exercisable

—

9/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

9.41K shares

+9.41K

Strike price

Held after

3.38M

Exercisable

—

9/21/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

9.41K shares

−9.41K

Strike price

Held after

3.37M

Exercisable

—

9/21/2026

Stock Option (Right to Buy)

Direct

M · Option Exercise

Converts to

Class B Common Stock

3.61K shares

−3.61K

Strike price

38.08

Held after

156.73K

Exercisable

—

9/22/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

3.61K shares

+3.61K

Strike price

Held after

3.37M

Exercisable

—

9/22/2026

Class B Common Stock

Direct

C · Conversion

Converts to

Class A Common Stock

3.61K shares

−3.61K

Strike price

Held after

3.37M

Exercisable

—

9/22/2026

Security	Converts To	Date	Type	Shares	Strike Price	Exercisable	Held After
Stock Option (Right to Buy) Direct	Class B Common Stock27.96K shares	9/21/2026	M · Option Exercise	−27.96K	14.42	—	0.00
Class B Common Stock Direct	Class A Common Stock27.96K shares	9/21/2026	C · Conversion	+27.96K		—	3.40M
Class B Common Stock Direct	Class A Common Stock27.96K shares	9/21/2026	C · Conversion	−27.96K		—	3.37M
Stock Option (Right to Buy) Direct	Class B Common Stock9.41K shares	9/21/2026	M · Option Exercise	−9.41K	38.08	—	160.34K
Class B Common Stock Direct	Class A Common Stock9.41K shares	9/21/2026	C · Conversion	+9.41K		—	3.38M
Class B Common Stock Direct	Class A Common Stock9.41K shares	9/21/2026	C · Conversion	−9.41K		—	3.37M
Stock Option (Right to Buy) Direct	Class B Common Stock3.61K shares	9/22/2026	M · Option Exercise	−3.61K	38.08	—	156.73K
Class B Common Stock Direct	Class A Common Stock3.61K shares	9/22/2026	C · Conversion	+3.61K		—	3.37M
Class B Common Stock Direct	Class A Common Stock3.61K shares	9/22/2026	C · Conversion	−3.61K		—	3.37M