Director Isabel Mahe receives 664 lululemon (LULU) RSUs in fee swap

Rhea-AI Filing Summary

lululemon athletica inc. director Isabel Mahe reported an equity grant under the company’s Non-Employee Director Compensation Plan. She acquired 664 shares of common stock in the form of restricted stock units (RSUs) on 2026-03-19 in lieu of $110,000 of director retainer fees, at no cash purchase price. Each RSU represents one share of common stock and vests in four equal installments on the last day of each fiscal quarter, subject to her continued service. Following this grant, she directly holds 2,519 shares of lululemon common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Mahe Isabel

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	664	$0.00	--

Holdings After Transaction: Common Stock — 2,519 shares (Direct)

Footnotes (1)

1. [object Object]

Form 4 Insider Transactions: What Each Field Means →

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
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^*

Mahe Isabel

(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)

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(1)	03/19/2026		A		664	A	$0	2,519	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. RSUs granted to the reporting person under lululemon athletica inc.'s Non-Employee Director Compensation Plan in lieu of $110,000 of retainer fees. Each RSU is the right to receive one share of common stock and vests in four equal installments on the last day of each fiscal quarter, subject to continued service.

	/s/ Isabel Mahe 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 did lululemon (LULU) director Isabel Mahe report on this Form 4?

Director Isabel Mahe reported receiving 664 restricted stock units of lululemon common stock as a grant. The award was made under the Non-Employee Director Compensation Plan as part of her board compensation rather than a market purchase.

How many lululemon (LULU) shares does Isabel Mahe hold after this transaction?

After the reported grant, Isabel Mahe directly holds 2,519 shares of lululemon common stock. This total reflects her position following the acquisition of 664 restricted stock units awarded as part of her non-employee director compensation.

Was cash paid for the lululemon (LULU) shares reported by Isabel Mahe?

No cash was paid for these shares. The 664 restricted stock units were granted at a price of $0.0000 per share, issued in lieu of $110,000 in non-employee director retainer fees as part of her compensation package.

What are the vesting terms of Isabel Mahe’s lululemon (LULU) RSU grant?

The 664 restricted stock units vest in four equal installments on the last day of each fiscal quarter. Vesting is conditioned on Isabel Mahe’s continued service as a non-employee director, and each vested RSU converts into one share of lululemon common stock.

What plan governs Isabel Mahe’s lululemon (LULU) RSU award?

The RSU grant was made under lululemon athletica inc.’s Non-Employee Director Compensation Plan. Under this plan, directors can receive equity awards, like RSUs, in lieu of cash retainer fees, aligning part of their compensation with company stock performance.

Does this lululemon (LULU) Form 4 indicate a market buy or sell by Isabel Mahe?

The filing shows an acquisition via equity grant, not a market buy or sell. Code “A” reflects a grant or award of 664 restricted stock units as compensation, with no open-market purchase or sale of lululemon shares reported in this transaction.