Lululemon (LULU) CFO Meghan Frank awarded options and RSUs

Rhea-AI Filing Summary

lululemon athletica inc. executive Meghan Frank, CFO and Interim Co-CEO, reported compensation-related equity grants. She received stock options for 20,384 shares of common stock at an exercise price of $165.57 per share, vesting in four equal annual installments starting on the first anniversary of the March 19, 2026 grant date.

Frank was also granted 5,436 restricted stock units that convert into common stock on a one-for-one basis. These RSUs vest 33% on March 19, 2027, 33% on March 19, 2028, and 34% on March 19, 2029, subject to her continued employment or association with the company. Following the RSU grant, she directly holds 31,062 shares of common stock.

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

OMB Number:			3235-0287
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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^*

FRANK MEGHAN

(Last) (First) (Middle)

C/O LULULEMON ATHLETICA INC.

1818 CORNWALL AVENUE

(Street)

VANCOUVER V6J 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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	CFO & Interim Co-CEO

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(1)	03/19/2026		A		5,436	A	$0	31,062	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
Stock Options (Right to Buy)	$165.57	03/19/2026		A		20,384		(2)	03/19/2036	Common Stock	20,384	$0	20,384	D

Explanation of Responses:

1. Restricted Stock units convert into common stock on a one-for-one basis. The reporting person received a restricted stock unit award which vests as to 33% on March 19, 2027, 33% on March 19, 2028 and 34% on March 19, 2029, subject to the reporting person's continued employment or association with the issuer through such date.

2. Each option vests in four equal annual installments beginning on the first anniversary of the grant date, subject to continued service.

	/s/ Meghan Frank by Alex Grieve, Attorney-in-Fact	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 equity awards did lululemon (LULU) CFO Meghan Frank receive?

Meghan Frank received stock options for 20,384 shares and 5,436 restricted stock units. The options have a $165.57 exercise price, while the RSUs convert one-for-one into common stock and vest over several years, subject to continued service.

How do Meghan Frank’s new stock options at lululemon (LULU) vest?

The 20,384 stock options vest in four equal annual installments. Vesting begins on the first anniversary of the March 19, 2026 grant date, and each installment requires her continued service with lululemon through the applicable vesting date.

What is the vesting schedule for Meghan Frank’s RSUs at lululemon (LULU)?

The 5,436 restricted stock units vest 33% on March 19, 2027, 33% on March 19, 2028, and 34% on March 19, 2029. Vesting is conditioned on Meghan Frank’s continued employment or association with lululemon on each vesting date.

How many lululemon (LULU) common shares does Meghan Frank hold after these grants?

After the March 19, 2026 restricted stock unit grant, Meghan Frank directly holds 31,062 shares of lululemon common stock. This total reflects her updated direct ownership position reported in the Form 4 filing following the equity awards.

What does the $165.57 exercise price mean for lululemon (LULU) options granted to Meghan Frank?

The $165.57 exercise price is the fixed price at which Meghan Frank can purchase lululemon common shares under the 20,384 stock options. She may exercise vested options at this price any time before their March 19, 2036 expiration date.