lululemon athletica inc. - Director's Dealing 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: lululemon athletica inc. (LULU)
CIK: 0001397187
Period of Report: 2012-03-26

Reporting Person: Schweitzer Delaney (Exec VP Retail Operations)

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-03-26	Common Stock	M	12866	$0.245	Acquired	12866	Direct
2012-03-26	Common Stock	S	12866	$75.78	Disposed	0	Direct

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-26	Stock Option (Right to Buy)	$0.245	M	12866	Disposed	2016-12-27	Common Stock (12866)	Direct
2012-03-26	Stock Option (Right to Buy)	$75.23	A	2605	Acquired	2019-03-26	Common Stock (2605)	Direct

F1: These options vested as to 25% on each of December 27, 2007, December 27, 2008, December 27, 2009 and December 27, 2010.

F2: These options shall vest as to 25% on each of March 26, 2013, March 26, 2014, March 26, 2015 and March 26, 2016.