Wilson launches proxy campaign against Lululemon (NASDAQ: LULU)

Rhea-AI Filing Summary

lululemon athletica inc. is the target of a proxy solicitation by Dennis J. Wilson and affiliated participants who have filed a Definitive Proxy Statement and an accompanying GOLD universal proxy card to solicit proxies for the election of their director slate and to seek approval of a business proposal at the 2026 annual meeting of shareholders. The filing notes Mr. Wilson posted material on LinkedIn on April 30, 2026, which is attached as Exhibit 1 and incorporated by reference. The proxy materials will be furnished to some or all shareholders and are available on the SEC website.

Insights

Corporate Governance Analyst

Proxy campaign filed by an activist slate seeking board seats and a business vote.

The filing confirms that Dennis J. Wilson and named participants have launched a formal solicitation using a Definitive Proxy Statement and a GOLD universal proxy card for the 2026 Annual Meeting. The materials intend to elect an alternative director slate and propose a business vote.

The outcome depends on shareholder outreach and vote mobilization; subsequent filings and the definitive proxy materials will provide candidate bios, voting recommendations, and any competing board responses.

Key Terms

Definitive Proxy Statement, GOLD universal proxy card, Participants

3 terms

Definitive Proxy Statement regulatory

"has filed the Definitive Proxy Statement and accompanying GOLD universal proxy card"

A Definitive Proxy Statement is a detailed document that a company sends to its shareholders before a big meeting, like voting on important decisions. It explains what's being voted on and gives important information so shareholders can make informed choices. It matters because it helps shareholders understand and participate in key company decisions.

GOLD universal proxy card financial

"accompanying GOLD universal proxy card with the U.S. Securities and Exchange Commission"

A gold universal proxy card is a single ballot used in contested board elections that lists both the company’s nominees and challenger nominees, allowing shareholders to vote for any combination of candidates up to the number of open seats. It matters to investors because it simplifies and preserves their voting choice, reduces the likelihood that a split vote will unintentionally favor one side, and can materially influence who controls the board.

Participants regulatory

"The participants in the solicitation of proxies are Mr. Wilson, Anamered Investments Inc., LIPO Investments (USA), Inc."

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 14A

Proxy Statement Pursuant to Section 14(a) of the

Securities Exchange Act of 1934

(Amendment No.  )

Filed by the Registrant ☐

Filed by a party other than the Registrant ☒

Check the appropriate box:

☐ Preliminary Proxy Statement

☐ Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

☐ Definitive Proxy Statement

☒ Definitive Additional Materials

☐ Soliciting Material Pursuant to §240.14a-12

lululemon athletica inc.

(Name of Registrant as Specified In Its Charter)

Dennis J. Wilson

Anamered Investments Inc.

LIPO Investments (USA), Inc.

Wilson 5 Foundation

Wilson 5 Foundation Management Ltd.

Five Boys Investments ULC

Shannon Wilson

Low Tide Properties Ltd.

House of Wilson Ltd.

Laura Gentile

Eric Hirshberg

Marc Maurer

(Name of Person(s) Filing Proxy Statement, if other than the Registrant)

Payment of Filing Fee (Check all boxes that apply):

☒ No fee required

☐ Fee paid previously with preliminary materials

☐ Fee computed on table in exhibit required by Item 25(b) per Exchange Act Rules 14a-6(i)(1) and 0-11

Dennis J. Wilson, together with the other participants named herein, has filed a definitive proxy statement (the “Definitive Proxy Statement”) and accompanying GOLD universal proxy card with the U.S. Securities and Exchange Commission (the “SEC”) to be used to solicit proxies for the election of his slate of highly qualified director candidates at the 2026 annual meeting of shareholders (including any other meeting of shareholders held in lieu thereof, and any adjournments, postponements, reschedulings or continuations thereof, the “2026 Annual Meeting”) of lululemon athletica inc. (the “Company”), and for the approval of a business proposal to be presented at the 2026 Annual Meeting.

On April 30, 2026, Mr. Wilson posted material to LinkedIn, a screenshot of which is attached hereto as Exhibit 1 and incorporated herein by reference.

CERTAIN INFORMATION CONCERNING THE PARTICIPANTS

Mr. Wilson, together with the other Participants (as defined below), has filed the Definitive Proxy Statement and accompanying GOLD Universal Proxy Card with the SEC to be used to solicit proxies from the shareholders of the Company in connection with the 2026 Annual Meeting.

SHAREHOLDERS OF THE COMPANY ARE URGED TO READ THESE MATERIALS (INCLUDING ANY AMENDMENTS OR SUPPLEMENTS THERETO) AND ANY OTHER RELEVANT DOCUMENTS THAT THE PARTICIPANTS HAVE FILED OR WILL FILE WITH THE SEC BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION, INCLUDING ABOUT THE MATTERS TO BE VOTED ON AT THE 2026 ANNUAL MEETING AND additional information relating to the Participants and their direct or indirect interests, by security holdings or otherwise.

The participants in the solicitation of proxies are Mr. Wilson, Anamered Investments Inc., LIPO Investments (USA), Inc., Wilson 5 Foundation, Wilson 5 Foundation Management Ltd., Five Boys Investments ULC, Shannon Wilson, Low Tide Properties Ltd., House of Wilson Ltd., Marc Maurer, Laura Gentile, and Eric Hirshberg (collectively, the “Participants”).

The Definitive Proxy Statement and accompanying GOLD Universal Proxy Card will be furnished to some or all of the Company’s shareholders and, along with other relevant documents, are available at no charge on the SEC’s website at https://www.sec.gov/.

Exhibit 1

FAQ

What did Dennis J. Wilson file against LULU?

Mr. Wilson and affiliated participants filed a Definitive Proxy Statement and a GOLD universal proxy card to solicit proxies for director elections and a business proposal at the 2026 annual meeting. The materials will be furnished to shareholders and posted on the SEC website.

When is the meeting targeted by the proxy solicitation?

The solicitation is for lululemon's 2026 annual meeting of shareholders. The filing references materials to be used at that meeting and notes a LinkedIn post dated April 30, 2026 included as Exhibit 1.

Who are the participants in the solicitation for LULU?

Participants named include Dennis J. Wilson, Anamered Investments Inc., LIPO Investments (USA), Inc., Wilson 5 Foundation and affiliates, Five Boys Investments ULC, Shannon Wilson, and several individual nominees and entities listed in the filing.

Where can LULU shareholders find the proxy materials?

The Definitive Proxy Statement and GOLD universal proxy card will be furnished to shareholders and are available at no charge on the SEC website at https://www.sec.gov/. The filing states the materials will include information about matters to be voted on and participant interests.