FRANK MEGHAN 4

What Happened

• Frank Meghan, CFO and Interim Co‑CEO of lululemon athletica inc. (LULU), was reported as receiving 3,754 performance share units on March 13, 2026. The Form 4 records the award as a derivative acquisition at $0.00 per unit (transaction code A), meaning no cash was paid.

Key Details

• Transaction date: 2026-03-13; Filed with SEC: 2026-03-17 (filing appears timely).
• Reported amount: 3,754 performance share units, $0.00 per unit (derivative award).
• Shares owned after transaction: not specified in the filing.
• Footnotes: (F1) Each performance share unit equals a contingent right to one common share; units were originally granted on March 30, 2023 for a three‑year performance period ending fiscal 2025 and were certified as achieved on March 13, 2026. (F2) The units vest on March 30, 2026, subject to continued employment through that date.

Context

• This was an award of performance share units (PSUs), not an open‑market purchase or sale. PSUs reflect compensation tied to multi‑year performance goals; they are contingent and, per the filing, will only convert to shares upon vesting and continued employment. No cash changed hands at the time of reporting.