Duolingo General Counsel Stephen Chen Sells $1.2M in Stock

Duolingo General Counsel Stephen Chen sold 8,072 shares of company stock for approximately $1.2 million under a pre-arranged trading plan, reducing his direct holdings by over 15% following an SEC Form 144 filing.

The transaction occurred as Duolingo Inc (NASDAQ: DUOL) navigates a broader pattern of insider selling over the past year, while recording a low volume of insider purchases during the same timeframe.

Transaction Details and Rule 10b5-1 Context

According to MarketBeat data, Chen executed the sale on Monday, September 14, 2026, at an average price of $149.33 per share, bringing the total transaction value to $1,205,391.76.

The sale was carried out pursuant to a pre-arranged Rule 10b5-1 trading plan. These regulatory frameworks allow corporate insiders to set up a predetermined schedule to buy or sell company stock at a time when they are not in possession of material non-public information, providing a defense against potential insider trading allegations.

The disposal reduced Chen's direct stake by 15.57%, leaving him with 43,769 shares valued at approximately $6.54 million based on the transaction pricing.

Broader Insider Activity at Duolingo

Insider transaction history for Duolingo Inc over the preceding 12 months reflects a heavy tilt toward divestment among executives and major shareholders.

According to GuruFocus tracking, corporate insiders recorded a total of 21 separate sales over the past year, compared to just 1 insider purchase.

In the public markets, Duolingo stock closed at $141.90, down 3.54% from its previous close of $147.10, according to Finnhub market data as of September 18, 2026.