lululemon athletica inc. — Director's Dealing 2012

Apr 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: lululemon athletica inc. (lulu)
CIK: 0001397187
Period of Report: 2012-03-29

Reporting Person: Day Christine McCormick (Director, Chief Executive Officer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-29	Common Stock	M	30000	$9.455	Acquired	65232	Direct
2012-03-29	Common Stock	S	29609	$72.4157	Disposed	35623	Direct
2012-03-29	Common Stock	S	391	$73.49	Disposed	35232	Direct
2012-03-29	Common Stock	M	25000	$11.87	Acquired	60232	Direct
2012-03-29	Common Stock	S	25000	$72.8363	Disposed	35232	Direct
2012-03-30	Common Stock	M	11666	$9.455	Acquired	46898	Direct
2012-03-30	Common Stock	S	11666	$74.2402	Disposed	35232	Direct
2012-03-30	Common Stock	M	16666	$11.87	Acquired	51898	Direct
2012-03-30	Common Stock	S	12266	$73.7998	Disposed	39632	Direct
2012-03-30	Common Stock	S	4400	$74.1707	Disposed	35232	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-29	Stock Option (Right to Buy)	$9.455	M	30000	Disposed	2018-09-02	Common Stock (30000)	Direct
2012-03-29	Stock Option (Right to Buy)	$11.87	M	25000	Disposed	2018-10-01	Common Stock (25000)	Direct
2012-03-30	Stock Option (Right to Buy)	$9.455	M	11666	Disposed	2018-09-02	Common Stock (11666)	Direct
2012-03-30	Stock Option (Right to Buy)	$11.87	M	16666	Disposed	2018-10-01	Common Stock (16666)	Direct

Footnotes

F1: Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $72.37 to $72.48 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F2: Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $72.76 to $72.98 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F3: Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $74.20 to $74.52 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F4: Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $73.77 to $73.92 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F5: Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $74.14 to $74.29 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.

F6: These options vested as to 25% on September 2, 2009, September 2, 2010, September 2, 2011 and shall vest as to 25% on September 2, 2012.

F7: These options vested as to 25% on each of October 1, 2009, October 1, 2010 and October 1, 2011 and shall vest as to 25% October 1, 2012.