Michelle Sun Choe - Mar 27, 2023 Form 4 Insider Report for lululemon athletica inc. (LULU)

Role: Chief Product Officer
Signature: /s/ Michelle Sun Choe by Alex Grieve, Attorney-in-Fact
Stock symbol: LULU
Transactions as of: Mar 27, 2023
Transactions value $: -$1,357,702
Form type: 4
Date filed: 3/29/2023, 05:35 PM
Previous filing: Mar 27, 2023
Next filing: Apr 3, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LULU	Common Stock	Options Exercise	$0	+7.38K	+87.75%	$0.00	15.8K	Mar 27, 2023	Direct
transaction	LULU	Common Stock	Tax liability	-$1.27M	-3.99K	-25.24%	$317.22	11.8K	Mar 27, 2023	Direct	F1
transaction	LULU	Common Stock	Tax liability	-$92.6K	-292	-2.47%	$317.22	11.5K	Mar 27, 2023	Direct	F2

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LULU	Performance Share Units	Options Exercise	$0	-7.38K	-100%	$0.00^*	0	Mar 27, 2023	Common Stock	7.38K		Direct	F3

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents shares withheld for tax obligations in connection with settlement of performance share units.
F2	Represents shares withheld for tax obligations in connection with vesting of restricted stock units.
F3	Each performance share unit represents a right to receive one share of the issuer's common stock. The performance share units were granted on March 27, 2020, with respect to the three-year period ending at the end of fiscal 2022. The issuer certified the achievement of the performance goals on March 22, 2023. The performance share units vested on March 27, 2023.