Lululemon (LULU) grants 1,087 RSUs to director in lieu of fees

Rhea-AI Filing Summary

MUSSAFER DAVID M reported acquisition or exercise transactions in this Form 4 filing.

lululemon athletica inc. director David M. Mussafer received a grant of 1,087 restricted stock units (RSUs) of common stock as part of his board compensation. The RSUs were granted in lieu of $180,000 of retainer fees and increase his direct holdings to 22,901 shares.

Each RSU represents one share of common stock and will vest in four equal installments on May 3, 2026, August 2, 2026, November 1, 2026 and January 31, 2027, subject to his continued service as a non-employee director.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MUSSAFER DAVID M

(Last) (First) (Middle)

PRUDENTIAL TOWER

800 BOYLSTON STREET, SUITE 3300

(Street)

BOSTON MASSACHUSETTS 02199-8069

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
lululemon athletica inc. [ LULU ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/19/2026		A		1,087(1)	A	$0	22,901	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The reported securities represent restricted stock units ("RSUs") granted to the Reporting Person under the Issuer's Non-Employee Director Compensation Plan in lieu of $180,000 of retainer fees. Each RSU represents the right to receive one share of common stock and vests in four equal installments on May 3, 2026, August 2, 2026, November 1, 2026 and January 31, 2027, subject to continued service.

	/s/ David Mussafer	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did lululemon (LULU) director David Mussafer report on this Form 4?

Director David Mussafer reported receiving 1,087 restricted stock units of lululemon common stock as compensation. The award is a non-cash grant in lieu of retainer fees and increases his direct holdings to 22,901 shares after the reported transaction.

How large is the lululemon (LULU) RSU grant to director David Mussafer?

The grant to David Mussafer totals 1,087 restricted stock units, representing the right to receive 1,087 shares of common stock. These RSUs were issued in lieu of $180,000 of director retainer fees under lululemon’s Non-Employee Director Compensation Plan.

How do the new lululemon (LULU) RSUs vest for director David Mussafer?

The 1,087 restricted stock units vest in four equal installments, scheduled for May 3, 2026, August 2, 2026, November 1, 2026 and January 31, 2027. Vesting is conditioned on David Mussafer’s continued service as a non-employee director.

What is David Mussafer’s lululemon (LULU) share ownership after this RSU award?

Following the RSU grant, David Mussafer is reported to beneficially own 22,901 shares of lululemon common stock directly. This figure includes the newly awarded 1,087 restricted stock units reported in the Form 4 transaction data provided.

Is the lululemon (LULU) Form 4 transaction a market purchase or sale?

The transaction is not a market purchase or sale; it is a grant or award. The Form 4 describes an acquisition coded as an “A” transaction, representing restricted stock units granted as compensation rather than open-market buying or selling of shares.