Ranju Das Receives RSUs and Options at lululemon (LULU) on 09/09/2025

Rhea-AI Filing Summary

Ranju Das, Chief AI & Technology Officer at lululemon athletica inc. (LULU), reported equity awards on 09/09/2025. The Form 4 shows acquisition of 6,176 restricted stock units (RSUs) that vest in three annual installments of 33%, 33% and 34% starting on the first anniversary of the grant, and receipt of a stock option covering 6,909 shares with an exercise price of $165.69. Both entries are reported as acquisitions at no cash price on the transaction date, and the option lists 09/09/2032 in the date fields shown. Following these transactions, Mr. Das beneficially owns 6,176 shares from RSUs and 6,909 option-backed shares. The form was signed by an attorney-in-fact on 09/10/2025.

Positive

• Material equity awards disclosed for the Chief AI & Technology Officer, showing clear alignment of executive compensation with shareholder outcomes
• RSUs include explicit vesting schedule (33%/33%/34%) which clarifies timing of potential share delivery
• Option exercise price disclosed at $165.69, allowing transparent assessment of potential future intrinsic value

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine executive equity grants were reported, increasing incentive alignment without immediate cash payment or share sale.

The filing documents customary long-term compensation for a senior officer: 6,176 RSUs with annual vesting installments and a 6,909-share option at a $165.69 exercise price. These are recorded as acquisitions on 09/09/2025 and increase the reporting person’s potential equity stake while reflecting standard service-based vesting conditions. There is no cash consideration reported and no exercised or sold securities disclosed in this filing.

Compensation & Governance Specialist

TL;DR: Grants align executive incentives to shareholder value via time-based RSUs and multi-year options.

The awards follow common corporate practice: time-based RSUs vesting over three years and an option with multi-year vesting and an indicated 2032 date. The structure supports retention and performance alignment under continued service requirements stated in the explanation. The filing supplies explicit vesting schedules for the RSUs and options, enabling stakeholders to model future dilution timing.

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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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^*

Das Ranju

(Last) (First) (Middle)

C/O LULULEMON ATHLETICA INC.

1818 CORNWALL

(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 AI & Technology Officer

3. Date of Earliest Transaction (Month/Day/Year)
09/09/2025

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)	09/09/2025		A		6,176	A	$0	6,176	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)	$165.69	09/09/2025		A		6,909		(2)	09/09/2032	Common Stock	6,909	$0	6,909	D

Explanation of Responses:

1. Consists of restricted stock units (RSUs), each of which represents a 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.

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

	/s/ Ranju Das by Alex Grieve, Attorney-in-Fact	09/10/2025
	** 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.

FAQ

What did Ranju Das report on Form 4 for LULU?

The filing reports acquisition of 6,176 RSUs and a stock option for 6,909 shares on 09/09/2025.

What are the vesting terms for the RSUs granted to Ranju Das?

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.

What is the exercise price and term details for the option in the Form 4?

The option has an exercise price of $165.69 and the filing lists 09/09/2032 in the date field associated with the derivative security.

How many shares does Ranju Das beneficially own after this report?

Following the reported transactions, the Form 4 shows beneficial ownership of 6,176 shares from RSUs and 6,909 shares underlying the option.

When was the Form 4 signed and filed?

The Form 4 reflects transactions dated 09/09/2025 and was signed by an attorney-in-fact on 09/10/2025.