What happened
Duolingo, Inc. (NASDAQ: DUOL) said Ahn Luis von, its President & CEO, Co-Founder, director and 10% owner, sold 46,682 Class A shares on 2026-09-24. He is the reporting person on the filing.
The Form 4 was filed on 2026-09-28. It says the trades were made under a Rule 10b5-1 trading plan adopted on June 2, 2026. The shares traded from $150.45 to $152.29 per share, for about $7.03 million total. After the sale, Ahn Luis von held 0 direct Class A shares. Table II still lists stock option and Class B Common Stock entries, so the filing separates the sale from other reported interests.
Explain the financial terms
A Form 4 is the SEC report an officer, director or 10% owner files within two business days of buying or selling the company's stock.
A Rule 10b5-1 plan is a trading plan an insider sets up in advance, while not holding inside information, that schedules later trades.
Why it matters
The sale left the direct Class A line at zero. That makes the filing a before-and-after record for his reported direct stake. For investors, the main point is the change in the ownership line, while the rest of the filing still shows related interests.
The filing also shows a fully vested and exercisable stock option with a $38.08 exercise price. It says each share of Class B Common Stock can convert into one share of Class A Common Stock at the holder's option. The Rule 10b5-1 plan matters because it points to a preplanned sale, not a fresh signal on Duolingo.
Explain the financial terms
A Rule 10b5-1 plan is a trading plan an insider sets up in advance, while not holding inside information, that schedules later trades.
What's next
The key dates are 2026-09-24 for the trades and 2026-09-28 for the filing. That gives investors a baseline for any later ownership report from the same reporting person. If another Form 4 changes the direct Class A line or the Table II entries, it will be easier to see how much the stake has shifted.
Until then, this filing is the latest snapshot of Ahn Luis von's reported ownership changes. The direct sale, the plan disclosure and the remaining derivative entries together define the current reference point. A later filing will matter most if it shows a different mix of direct shares, option exposure or convertible Class B stock. Compared with this filing, that would be the clearest sign of a new position shift.
Explain the financial terms
A Form 4 is the SEC report an officer, director or 10% owner files within two business days of buying or selling the company's stock.
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