lululemon athletica inc. — Director's Dealing 2012

Jan 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: lululemon athletica inc. (lulu)
CIK: 0001397187
Period of Report: 2011-12-29

Reporting Person: MORFITT MARTHA A M (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-12-29	Common Stock	M	7000	$3.565	Acquired	27896	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-12-29	Stock Option (Right to Buy)	$3.565	M	7000	Disposed	2018-12-15	Common Stock (7000)	Direct

Footnotes

F1: These options vested as to 25% on each of December 15, 2009, December 15, 2010, December 15, 2011 and shall vest as to 25% on December 15, 2012.