Duolingo Files 8-K: Financials, Director Changes, Officer Comp

Ticker: DUOL · Form: 8-K · Filed: May 8, 2024

Sentiment: neutral

Topics: financial-results, corporate-governance, executive-compensation

Related Tickers: DUOL

TL;DR

Duolingo dropped an 8-K: financials updated, board shuffle, exec pay changes. Check it out.

AI Summary

Duolingo, Inc. filed an 8-K on May 8, 2024, reporting on its results of operations and financial condition. The filing also disclosed the departure of a director, the election of a new director, and updates to compensatory arrangements for certain officers. Additionally, it included financial statements and exhibits.

Why It Matters

This filing provides investors with crucial updates on Duolingo's financial performance and significant changes in its board and executive compensation, impacting transparency and investor confidence.

Risk Assessment

Risk Level: medium — The filing contains information about financial results and executive compensation, which can influence investor sentiment and stock price.

Key Players & Entities

FAQ

What specific financial information is being reported in this 8-K?

The 8-K indicates it covers 'Results of Operations and Financial Condition' but does not provide specific figures within the provided text.

Who departed from Duolingo's board or officer positions?

The filing mentions the 'Departure of Directors or Certain Officers' but does not name the individuals in the provided text.

Was a new director elected to Duolingo's board?

Yes, the filing lists 'Election of Directors' as an item being reported.

Are there any changes to executive compensation arrangements?

Yes, the filing includes 'Compensatory Arrangements of Certain Officers' as a reported item.

What is the primary purpose of this Form 8-K filing for Duolingo?

The primary purpose is to report significant events, including financial condition, director/officer changes, and compensatory arrangements, as required by the SEC.

Filing Stats: 597 words · 2 min read · ~2 pages · Grade level 11.9 · Accepted 2024-05-08 16:03:21

Key Financial Figures

Filing Documents

02 Results of Operations and Financial Condition

Item 2.02 Results of Operations and Financial Condition On May 8, 2024, Duolingo, Inc. (the "Company") issued a press release announcing the financial results of the Company for the three months ended March 31, 2024. A copy of the press release is being furnished as Exhibit 99.1 attached hereto and is incorporated by reference herein. In accordance with General Instruction B.2 of Form 8-K, the information in this Item 2.02 of this Current Report on Form 8-K, including Exhibit 99.1 attached hereto, shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing. Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers On May 6, 2024, Laela Sturdy notified the Company of her resignation from the Company's Board of Directors, including its Audit Committee and its Mergers and Acquisition Committee, effective as of such date. Ms. Sturdy's resignation was not the result of any disagreement with the Company or on any matter related to the Company's operations, policies, or practices.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits (d) Exhibits. Exhibit No. Description 99.1 Press Release dated May 8, 2024 99.2 Shareholder Letter dated May 8, 2024

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. DUOLINGO, INC. Date: May 8, 2024 By: /s/ Matthew Skaruppa Matthew Skaruppa Chief Financial Officer (Principal Financial Officer and Principal Accounting Officer)

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