Lululemon Athletica (LULU) Proxy filing summary

Executive summary

• Annual meeting scheduled for June 25, 2026, will be held virtually, with a record date of April 30, 2026.

• Proxy supplement provides updates following a cooperation agreement with Wilson and related parties.

• Board recommends voting for three company nominees: Chip Bergh, Esi Eggleston Bracey, and Teri List.

Voting matters and shareholder proposals

• Board recommends voting "FOR" the election of three company nominees on the WHITE proxy card.

• Votes for Laura Gentile, Eric Hirshberg, or Marc Maurer will be disregarded due to Wilson's withdrawal of director nominations.

• Board supports a non-binding proposal to declassify the board, with a follow-up amendment proposal planned for 2027 if approved.

Board of directors and corporate governance

• Cooperation agreement with Wilson includes appointing Laura Gentile and Marc Maurer as independent directors after the annual meeting.

• Board size will increase, and an additional independent director with apparel expertise will be appointed by October 1, 2026, subject to Wilson's approval.

• One incumbent director will not stand for reelection at the 2027 annual meeting.

• Conditional resignations for new directors tied to the cooperation agreement's terms.

• Board election will use a plurality voting standard as the number of nominees exceeded available seats as of the record date.