X0303 4 2011-01-12 0 0001397187 lululemon athletica inc. lulu 0001407029 Wilson Dennis J. C/O LULULEMON ATHLETICA INC. 400 - 1818 CORNWALL AVENUE VANCOUVER A1 V6J 1C7 BRITISH COLUMBIA, CANADA 1 1 1 0 Chief Innovation and Branding Common Stock 2011-01-12 4 C 0 98800 A 100800 D Common Stock 2011-01-12 4 S 0 98800 72.37 D 2000 D Common Stock 2011-01-12 4 C 0 1200 A 3200 D Common Stock 2011-01-12 4 S 0 1200 73.19 D 2000 D Common Stock 5164429 I By LIPO Investments (USA) Inc. Exchangeable Shares of Lulu Canadian Holding, Inc. 2011-01-12 4 C 0 100000 0 D Common Stock 100000 17492728 D Shares obtained on conversion of exchangeable shares of Lulu Canadian Holding, Inc. for shares of lululemon athletica inc. for no consideration, exempt under 16b-6b. 1 - 1 exchange ratio. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on June 14, 2010. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $72.00 to $72.97, 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. Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $73.17 to $73.20, 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. Shares surrendered on conversion of exchangeable shares of Lulu Canadian Holding, Inc. for shares of lululemon athletica inc. for no consideration, exempt under Rule 16b-6b. Immediately exchangeable for shares of lululemon common stock on a 1-to-1 ratio. No expiration date. Dennis Wilson, by David Negus, Attorney-in-Fact 2011-01-13