A Form 4 filed on September 11, 2026 discloses that Heidi O'Neill, CEO and Director of lululemon athletica inc. (NASDAQ:LULU), was awarded restricted stock units and stock options on September 9, 2026.

Key Highlights

  • RSU Grant: O'Neill acquired 28,079 restricted stock units at a price of $0, each representing a contingent right to receive one share of common stock.
  • Stock Options (Tranche 1): 40,223 stock options with an exercise price of $99.72, expiring September 9, 2036, were acquired at a price of $0.
  • Stock Options (Tranche 2): 105,295 stock options with an exercise price of $99.72, expiring September 9, 2036, were acquired at a price of $0.
  • RSU Vesting: The 28,079 RSUs vest 50% on September 9, 2027 and 50% on September 9, 2028, subject to continued employment or association.
  • Option Vesting (Tranche 1): The 40,223 options vest 25% on each of September 9, 2027, 2028, 2029, and 2030, subject to continued employment or association.
  • Option Vesting (Tranche 2): The 105,295 options vest 50% on September 9, 2027 and 50% on September 9, 2028, subject to continued employment or association.

Lululemon CEO Granted Equity Awards Totaling Over 173,000 Units

According to the filing, Heidi O'Neill, who serves as both CEO and Director of lululemon athletica inc., received three separate equity award grants on September 9, 2026. All three transactions were coded as acquisitions (Code A) in Table II of the Form 4, covering derivative securities. The filing reports that each award was acquired at a price of $0.

The restricted stock unit grant of 28,079 units, as the filing explains, "may be settled in issuer common stock or in cash at the election of the reporting person." Vesting for the RSUs is split equally across two dates: September 9, 2027 and September 9, 2028. Both stock option tranches carry an exercise price of $99.72 per share and an expiration date of September 9, 2036. The 40,223-option tranche vests in four equal annual installments beginning September 9, 2027, while the 105,295-option tranche vests in two equal installments on September 9, 2027 and September 9, 2028. All vesting is conditioned on O'Neill's continued employment or association with the issuer through each applicable date, according to the filing.

Following these transactions, the filing reports O'Neill beneficially owns 28,079 RSUs, 40,223 stock options from the first tranche, and 105,295 stock options from the second tranche, all held directly. The Form 4 was signed on September 11, 2026 by Alex Grieve as Attorney-in-Fact on behalf of O'Neill.

What Was Disclosed

The filing discloses three derivative security grants to lululemon's CEO on September 9, 2026: 28,079 RSUs and two tranches of stock options totaling 145,518 shares, all at no cost to the recipient, with vesting tied to continued service.