Wilson seeks control of lululemon board with three nominees (LULU)

Rhea-AI Filing Summary

Dennis J. Wilson and affiliated participants filed a definitive proxy statement and a GOLD universal proxy card to solicit shareholder votes for the 2026 annual meeting of lululemon athletica inc. They seek election of three independent director nominees and approval of a business proposal, and posted supporting materials and a campaign video in late April 2026.

Key Figures

Investor approval rate cited: 20% Director nominees: 3 independent director candidates Posting dates: April 29, 2026; April 30, 2026 +1 more

4 metrics

Investor approval rate cited 20% video transcript survey result

Director nominees 3 independent director candidates solicitation for the 2026 Annual Meeting

Posting dates April 29, 2026; April 30, 2026 social media posts and campaign video screenshots attached as Exhibits 1-3

Target meeting 2026 Annual Meeting meeting for which proxies are solicited

Key Terms

GOLD universal proxy card, Definitive Proxy Statement, Participants, proxy solicitation

4 terms

GOLD universal proxy card regulatory

"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.

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.

Participants other

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

proxy solicitation regulatory

"to be used to solicit proxies for the election of his slate of highly qualified director candidates"

Proxy solicitation is the process of asking shareholders for permission to vote their shares on corporate matters, usually by sending voting forms or requests by mail, email or phone. Investors should watch proxy solicitations because they signal attempts to change control, influence board elections or approve big deals — like neighbors organizing votes on a shared building project — and the outcome can materially affect a company’s strategy and stock value.

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 29, 2026, Mr. Wilson posted materials to social media, screenshots of which are attached hereto as Exhibit 1 and incorporated herein by reference. On April 30, 2026, Mr. Wilson posted materials to social media, screenshots of which are attached hereto as Exhibit 2 and incorporated herein by reference, and posted a video to his campaign YouTube profile, for which a screenshot and written transcript of the video are attached hereto as Exhibit 3 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

LinkedIn

X/Twitter

Facebook

Instagram

Exhibit 2

LinkedIn

X/Twitter

Facebook

Instagram

Exhibit 3

Title: Investor Survey Shows Declining Confidence in lululemon’s Board

Description: A recent survey of investors focused on the athletic apparel industry reveals how investors view lululemon, and the results are clear. Confidence in the Board is slipping as the brand shows signs of decline. The results point to missing gaps in Board expertise while reinforcing what drives real value for a premium brand. Creativity First lulu’s independent nominees can bring the capabilities needed to help close these gaps and move the company forward.

Additional legal information can be found at: www.creativityfirstlulu.com

Video Transcript:

lululemon in decline: investors see missing skills in the boardroom

Only 20% of investors polled have a favorable view of lululemon’s Board.

Missing skills: Investors polled identified key gaps in the Board’s skillset:

key gaps industry expertise brand leadership design innovation

According to the survey, the top factors companies need to command a price premium…

1 Product quality and performance

2 Strong brand reputation and loyalty

The factors that can drive price premiums overlap with the Board’s missing skills

Marc Maurer Laura Gentile Eric Hirshberg

Our three nominees can bring these skills to the boardroom.

When you receive your GOLD proxy card, vote “FOR” our three independent director candidates.

FAQ

What does the LULU proxy filing seek?

The filing requests shareholder votes to elect three independent director nominees and to approve a business proposal at the 2026 annual meeting. The Participants filed a Definitive Proxy Statement and a GOLD universal proxy card to solicit proxies for those matters.

Who are the participants in the LULU solicitation?

Participants include Dennis J. Wilson, Anamered Investments Inc., LIPO Investments (USA), Inc., Wilson 5 Foundation and other affiliated entities and individuals named in the filing. The filing lists all participants and says materials are available on the SEC website.

What messaging did the campaign post in April 2026?

Campaign posts and a video argue investor confidence in lululemon’s board is slipping and highlight perceived board skill gaps. The video transcript cites a survey result that only 20% of investors polled have a favorable view of the Board.

How many director nominees does the campaign propose for LULU?

The campaign urges shareholders to vote “FOR” three independent director candidates. The filing repeatedly identifies the slate as three nominees and links their campaign materials and proxy card to that slate.

Where can LULU shareholders find the proxy materials?

The filing states the Definitive Proxy Statement and GOLD universal proxy card are furnished to shareholders and available at no charge on the SEC website at https://www.sec.gov/. Exhibit screenshots and a video transcript are included in the filing.