Lululemon (LULU) reports new RSU and option awards to its CFO

Rhea-AI Filing Summary

lululemon athletica inc. reported new equity awards to its Chief Financial Officer, Meghan Frank, as of 12/15/2025. She received grants of common stock reported as 1,212 and 9,695 shares at a price of $0, reflecting restricted stock units that convert into shares over time. Following these transactions, the reported beneficial ownership amounts for these common stock entries were 15,826 and 25,521 shares, held directly.

Frank also received stock options with an exercise price of $206.29 per share, covering 4,614 and 24,607 underlying shares of common stock, expiring on 12/15/2035. The filing notes that the RSUs vest in three annual installments of 33%, 33%, and 34% beginning on the first anniversary of the grant date, while each stock option vests in four equal annual installments beginning on the first anniversary of the grant date, in each case subject to continued service and other vesting provisions.

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

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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 A1 V6J 1C7

(City) (State) (Zip)

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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

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

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

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

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)	12/15/2025		A(1)		1,212	A	$0	15,826	D
Common Stock	12/15/2025		A(1)		9,695	A	$0	25,521	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 Option (right to buy)	$206.29	12/15/2025		A		4,614		(2)	12/15/2035	Common Stock	4,614	$0	4,614	D
Stock Option (right to buy)	$206.29	12/15/2025		A		24,607		(2)	12/15/2035	Common Stock	24,607	$0	24,607	D

Explanation of Responses:

1. Consists of restricted stock units (RSUs), each of which represents a contingent right to receive one share of common stock. The RSUs vest in three annual installments of 33%, 33%, and 34% beginning on the first anniversary of the grant date, subject to continued service and other applicable vesting provisions under the award agreement.

2. Each option vests in four equal annual installments beginning on the first anniversary of the grant date, subject to continued service and other applicable vesting provisions under the award agreement.

	/s/ Meghan Frank by Alex Grieve, Attorney-in-Fact	12/17/2025
	** Signature of Reporting Person	Date
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FAQ

What equity awards did LULU grant to its CFO Meghan Frank?

The Chief Financial Officer, Meghan Frank, received common stock awards reported as 1,212 and 9,695 shares at a price of $0, as well as stock options with an exercise price of $206.29 covering 4,614 and 24,607 underlying shares of lululemon athletica inc. common stock.

When were the new LULU equity awards to the CFO granted?

The equity awards to the Chief Financial Officer were granted on 12/15/2025, which is listed as the transaction date for both the common stock and stock option entries.

How do the LULU restricted stock units granted to the CFO vest?

The filing states that the restricted stock units (RSUs) vest in three annual installments of 33%, 33%, and 34% beginning on the first anniversary of the grant date, subject to continued service and other vesting provisions under the award agreement.

What are the vesting terms for the LULU stock options granted to the CFO?

Each stock option vests in four equal annual installments beginning on the first anniversary of the grant date, subject to continued service and other applicable vesting provisions under the award agreement. The options have an exercise price of $206.29 and expire on 12/15/2035.

What is Meghan Frank’s relationship to lululemon athletica inc. in this filing?

In this filing, Meghan Frank is identified as an Officer of lululemon athletica inc., with the title Chief Financial Officer. The form is filed by one reporting person.

How many lululemon common shares did the CFO beneficially own after the reported transactions?

For the common stock entries, the amounts of securities beneficially owned following the reported transactions are listed as 15,826 and 25,521 shares of lululemon athletica inc. common stock, held directly.

Where are the LULU stock options and RSUs held according to the filing?

Both the common stock (including RSUs that convert into shares) and the stock options reported in the tables are indicated as being held with Direct (D) ownership by the reporting person.