VANCOUVER, British Columbia--(BUSINESS WIRE)--
lululemon athletica inc. (NASDAQ:LULU; TSX:LLL) announced today that,
pursuant to obligations under the stockholder-sponsored stock-based
compensation plans created by founder and Chairman, Dennis J. Wilson,
Mr. Wilson has indicated through regulatory filings an intention to
transfer or otherwise sell, through his control of LIPO Investments USA,
Inc. ("LIPO USA"), approximately 330,000 shares of lululemon common
stock.
In accordance with the LIPO USA Option Plan created prior to our initial
public offering, Mr. Wilson will transfer shares of lululemon common
stock to certain founding employees of the Company upon the exercise of
awards. The shares of lululemon common stock transferred by LIPO USA to
the employees will be restricted from sale for a period of six months.
In connection with such transfers, LIPO USA will sell a number of shares
on the open market to satisfy tax and withholding obligations. Further
details of the stockholder-sponsored plan are provided in note
11-Stock-Based Compensation in the Company's 2007 Annual Report on Form
10-K. Additional transfers will continue periodically until all
obligations under the LIPO USA option plan are fulfilled.
Mr. Wilson stated: "This transfer of shares is a continuation of the one
that occurred last quarter. The execution of this transfer will allow
this group of founding employees to continue to monetize their ownership
over time."
About lululemon athletica inc.
lululemon athletica (NASDAQ:LULU; TSX:LLL) is a yoga-inspired athletic
apparel company that creates components for people to live longer,
healthier and more fun lives. By producing products that help keep
people active and stress free, lululemon believes that the world will be
a better place. Setting the bar in technical fabrics and functional
designs, lululemon works with yogis and athletes in local communities
for continuous research and product feedback. For more information, http://www.lululemon.com.
Forward-Looking Statements:
This press release contains "forward-looking statements" within the
meaning of Section 27A of the Securities Act of 1933 and Section 21E of
the Securities Exchange Act of 1934 that involve risks, uncertainties
and assumptions, such as statements regarding our future financial
condition. In many cases, you can identify forward-looking statements by
terms such as "may," "will," "should," "expects," "plans,"
"anticipates," "believes," "intends," "estimates," "predicts,"
"potential" or the negative of these terms or other comparable
terminology. These forward-looking statements are based on management's
current expectations but they involve a number of risks and
uncertainties. Actual results and the timing of events could differ
materially from those anticipated in the forward-looking statements as a
result of risks and uncertainties, which include, without limitation,
those risk factors detailed in our filings with the Securities and
Exchange Commission, including risk factors contained in our Annual
Report on Form 10-K for our 2007 fiscal year, and other filings we make
with the SEC. Our filings with the SEC are available at www.sec.govhttp://www.sec.gov. You are urged to
consider these factors carefully in evaluating the forward-looking
statements herein and are cautioned not to place undue reliance on such
forward-looking statements, which are qualified in their entirety by
this cautionary statement. The forward-looking statements made herein
speak only as of the date of this press release and the company
undertakes no obligation to publicly update such forward-looking
statements to reflect subsequent events or circumstances.
Source: lululemon athletica inc.