Lululemon Athletica (LULU) Proxy Filing summary

Executive summary

• Chip Bergh, former CEO of Levi Strauss & Co., appointed to the board effective March 17, 2026, expanding the board to 10 members until the next annual meeting.

• David Mussafer, current lead director and chair of the Corporate Responsibility, Sustainability and Governance Committee, will retire at the end of his term and not stand for reelection at the 2026 annual meeting.

• The board highlights ongoing refreshment, with five new independent directors added in the last five years.

• The company is focused on progressing the search for its next CEO and driving long-term, sustainable growth and shareholder value.

• Forward-looking statements note risks related to leadership integration and execution of business strategies.

Voting matters and shareholder proposals

• The company will file a proxy statement and related materials for the 2026 annual meeting, encouraging shareholders to review these documents when available.

• Proxy solicitation will involve directors and certain executive officers as participants.

Board of directors and corporate governance

• Board size increased to 10 with Bergh's appointment, to revert to 9 after Mussafer's retirement post-annual meeting.

• Bergh will serve as a Class I director until the 2026 annual meeting and join the Corporate Responsibility, Sustainability, and Governance Committee and the People, Culture, and Compensation Committee.

• Bergh is considered an independent director under Nasdaq standards.

• Board refreshment is ongoing, with recent skills assessments guiding new appointments.