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    DUOL   US26603R1068

DUOLINGO, INC.

(DUOL)
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Duolingo : Submission of Matters to a Vote of Security Holders - Form 8-K

06/13/2022 | 06:13am EDT
duol-20220609

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 9, 2022
Duolingo, Inc.
(Exact name of registrant as specified in its charter)
Delaware 001-40653 45-3055872
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(IRS Employer
Identification Number)
5900 Penn Avenue
Pittsburgh, Pennsylvania15206
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code: (412) 567-6602
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
Trading
Symbol(s)
Name of each exchange on which registered
Class A common stock, $0.0001 par value per share DUOL
The Nasdaq Stock Market
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐



Item 5.07. Submission of Matters to a Vote of Security Holders.

On June 9, 2022, Duolingo, Inc. (the "Company") held its 2022 Annual Meeting of Stockholders (the "Annual Meeting"). At the Annual Meeting, a total of 39,104,990 shares of the Company's Class A common stock and Class B common stock (collectively, the "Common Stock") were present in person or represented by proxy at the Annual Meeting, representing approximately 78.05% in voting power of of the Company's outstanding Common Stock as of the April 12, 2022 record date. Each share of Class A common stock is entitled to one vote, and each share of Class B common stock is entitled to 20 votes and voted together as a class on each of the proposals described below. The following are the voting results for the proposals considered and voted upon at the Annual Meeting, each of which were described in the Company's definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission on April 22, 2022.

Proposal 1 - Election of three Class I directors to hold office until the Company's annual meeting of stockholders to be held in 2025 and until his or her respective successor has been duly elected and qualified.

NOMINEE Votes FOR Votes WITHHELD Broker Non-Votes
Bing Gordon 196,299,641 1,200,245 5,042,402
John Lilly 197,490,900 8,986 5,042,402
Laela Sturdy 196,258,373 1,241,513 5,042,402


Proposal 2 - Ratification of the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the year ending December 31, 2022.

Votes FOR Votes AGAINST ABSTAIN Broker Non-Votes
202,444,099 9,432 88,757 -

Based on the foregoing votes, the director nominees were elected and Proposal 2 was approved.


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: June 10, 2022 By:
/s/ Matthew Skaruppa
Matthew Skaruppa
Chief Financial Officer
(Principal Financial Officer and Principal Accounting Officer)

Disclaimer

Duolingo Inc. published this content on 13 June 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 13 June 2022 10:12:08 UTC.


© Publicnow 2022
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Financials (USD)
Sales 2022 365 M - -
Net income 2022 -68,6 M - -
Net cash 2022 554 M - -
P/E ratio 2022 -60,3x
Yield 2022 -
Capitalization 4 056 M 4 056 M -
EV / Sales 2022 9,60x
EV / Sales 2023 7,44x
Nbr of Employees 500
Free-Float 74,5%
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Mean consensus OUTPERFORM
Number of Analysts 10
Last Close Price 102,34 $
Average target price 116,13 $
Spread / Average Target 13,5%
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Managers and Directors
Luis von Ahn Chairman, President & Chief Executive Officer
Matthew Skaruppa Chief Financial Officer
Severin Hacker Director & Chief Technology Officer
Gillian Munson Independent Director
Amy C. Bohutinsky Independent Director
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