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  4. [Form 4] lululemon athletica inc. Insider Trading Activity

lululemon (LULU) CBO settles performance share units, 20,147 shares held after tax withholding

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

lululemon athletica inc. Chief Brand Officer Nicole Neuberger exercised performance share units that converted into 3,754 shares of common stock on March 30, 2026. These units were originally granted on March 30, 2023 for a three-year performance period ending at the end of fiscal 2025, with performance certified on March 13, 2026.

To cover tax obligations related to the settlement of these performance share units and the vesting of restricted stock units, a total of 2,180 shares of common stock were withheld at $145.83 per share. After these compensation-related and tax-withholding transactions, she directly owned 20,147 shares of lululemon common stock.

Positive

  • None.

Negative

  • None.

Insights

Routine equity award vesting with tax withholding; no open‑market trades.

Nicole Neuberger exercised performance share units into 3,754 shares of lululemon common stock, tied to a three-year performance period through fiscal 2025. This reflects settlement of prior equity awards rather than a new investment decision.

The filing shows 2,180 shares withheld at $145.83 per share to satisfy tax obligations, including amounts from both performance share units and restricted stock units. These F-code transactions are non-market dispositions and do not represent discretionary selling.

Following the transactions, Neuberger holds 20,147 shares directly. With no remaining derivative awards listed in this filing, this looks like a standard compensation event, and there is no indication of a Rule 10b5-1 trading plan or open-market buying or selling in the disclosed data.

Insider NEUBURGER NICOLE
Role Chief Brand Officer
Type Security Shares Price Value
Exercise Performance Share Units 3,754 $0.00 --
Exercise Common Stock 3,754 $0.00 --
Tax Withholding Common Stock 1,979 $145.83 $289K
Tax Withholding Common Stock 201 $145.83 $29K
Holdings After Transaction: Performance Share Units — 0 shares (Direct); Common Stock — 22,327 shares (Direct)
Footnotes (1)
  1. Represents shares withheld for tax obligations in connection with settlement of performance share units. Represents shares withheld for tax obligations in connection with vesting of restricted stock units. Each performance share unit represents a contingent right to receive one share of the issuer's common stock. The performance share units were granted on March 30, 2023 with respect to the three-year period ending at the end of fiscal 2025. The issuer certified the achievement of the performance goals on March 13, 2026. The performance share units vested on March 30, 2026.
Performance share units exercised 3,754 shares Converted into common stock on March 30, 2026
Shares withheld for taxes 2,180 shares Tax withholding related to PSU settlement and RSU vesting
Tax withholding price $145.83 per share Price used for F-code tax-withholding dispositions
Shares after PSU exercise 22,327 shares Direct holdings immediately after M-code common stock entry
Final direct holdings 20,147 shares Direct ownership after all tax-withholding transactions
Tax withholding from PSUs 1,979 shares Withheld for taxes on performance share unit settlement
Tax withholding from RSUs 201 shares Withheld for taxes on restricted stock unit vesting
Performance Share Units financial
"security_title": "Performance Share Units""
Performance share units are a type of company stock award given to employees that depend on the company meeting specific goals or targets. If these goals are achieved, the employee receives shares or the value of shares; if not, they may receive little or no compensation. This aligns employees’ interests with the company's success and encourages performance that benefits investors.
restricted stock units financial
"in connection with vesting of restricted stock units."
Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.
tax obligations financial
"Represents shares withheld for tax obligations in connection"
Exercise or conversion of derivative security financial
"transaction_code_description": "Exercise or conversion of derivative security""
payment of exercise price or tax liability by delivering securities financial
"transaction_code_description": "Payment of exercise price or tax liability by delivering securities""
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
NEUBURGER NICOLE
(Last)(First)(Middle)
C/O LULULEMON ATHLETICA INC.
1818 CORNWALL AVENUE
(Street)
VANCOUVERV6J 1C7
(City)(State)(Zip)
BRITISH COLUMBIA, CANADA
(Country)		2. Issuer Name and Ticker or Trading Symbol
lululemon athletica inc. [ LULU ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director10% Owner
XOfficer (give title below)Other (specify below)
Chief Brand Officer
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
03/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock03/30/2026M3,754A$022,327D
Common Stock(1)03/30/2026F1,979D$145.8320,348D
Common Stock(2)03/30/2026F201D$145.8320,147D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Performance Share Units(3)03/30/2026M3,754 (3)03/30/2026Common Stock3,754$00D
Explanation of Responses:
1. Represents shares withheld for tax obligations in connection with settlement of performance share units.
2. Represents shares withheld for tax obligations in connection with vesting of restricted stock units.
3. Each performance share unit represents a contingent right to receive one share of the issuer's common stock. The performance share units were granted on March 30, 2023 with respect to the three-year period ending at the end of fiscal 2025. The issuer certified the achievement of the performance goals on March 13, 2026. The performance share units vested on March 30, 2026.
/s/ Nicole Neuburger by Alex Grieve, Attorney-in-Fact04/01/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did lululemon (LULU) executive Nicole Neuberger report in this Form 4?

Nicole Neuberger reported the exercise of performance share units into 3,754 shares of lululemon common stock and related tax withholding transactions. These events reflect routine settlement of equity compensation rather than open-market stock purchases or sales, and updated her direct holdings to 20,147 shares.

How many lululemon (LULU) shares came from performance share units in this filing?

The filing shows 3,754 shares of lululemon common stock issued from performance share units. Each unit represented a contingent right to one share, covering a three-year performance period ending at fiscal 2025, with performance certified on March 13, 2026 and units vesting on March 30, 2026.

Why were 2,180 lululemon (LULU) shares withheld from Nicole Neuberger?

A total of 2,180 shares were withheld to satisfy tax obligations tied to equity vesting. Footnotes explain 1,979 shares related to settlement of performance share units and 201 shares to restricted stock unit vesting, all withheld at $145.83 per share instead of paying taxes in cash.

Did Nicole Neuberger sell lululemon (LULU) shares on the open market in this Form 4?

The Form 4 does not report any open-market sales. Dispositions are coded F, indicating shares were withheld by the company to cover tax obligations on equity compensation, not discretionary sales. There are no S-code (sale) transactions in the reported activity.

How many lululemon (LULU) shares does Nicole Neuberger own after these transactions?

After exercising performance share units and related tax-withholding, Nicole Neuberger directly owns 20,147 shares of lululemon common stock. This figure reflects her holdings following both the M-code derivative exercise transactions and the F-code tax-withholding dispositions reported on March 30, 2026.

What performance period did the lululemon performance share units cover for Nicole Neuberger?

The performance share units were granted on March 30, 2023 and covered a three-year period ending at the end of fiscal 2025. lululemon certified the achievement of the performance goals on March 13, 2026, and the units vested on March 30, 2026, triggering the share delivery.