UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
 
 
FORM 8-K
 
 
CURRENT REPORT
Pursuant to Section 13 or 15(d)
of the Securities Exchange Act of 1934
April 4, 2017
Date of Report (Date of earliest event reported)
 
 
lululemon athletica inc.
(Exact name of registrant as specified in its charter)
 
 
 
 
 
 
 
 
Delaware
 
001-33608
 
20-3842867
(State or other jurisdiction
of incorporation)
 
(Commission
File Number)
 
(IRS Employer
Identification No.)
1818 Cornwall Avenue
Vancouver, British Columbia
Canada, V6J 1C7
(Address of principal executive offices, including Zip Code)
Registrant's telephone number, including area code: (604) 732-6124
 
 
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
o
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
o
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
o
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
o
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 





Item 5.02.
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 4, 2017, the board of directors of lululemon athletica inc. appointed Glenn Murphy as a member of the board of directors. Mr. Murphy will serve as Co-Chairman of the board of directors. Mr. Murphy is the CEO of FIS Holdings, a consumer focused investment firm. Prior to founding FIS Holdings, he served as Chairman and CEO of The Gap, Inc. from 2007 to 2014. Prior to that, Mr. Murphy served as the Chairman and Chief Executive Officer of Shoppers Drug Mart from 2001 to 2007. He is a graduate of the University of Western Ontario. Our board of directors believes his extensive retail experience as a leading strategic operator will provide valuable insight to our board of directors. Michael Casey, who has held the Co-Chairman role since 2014, will step down as Co-Chairman but will continue as a member of the board of directors.
In connection with Mr. Murphy's appointment, the board of directors increased the size of the board from nine to ten members and Mr. Murphy will serve as a Class I director to fill the newly-created vacancy. Because Mr. Murphy will serve as a member of the class of directors whose terms expire at the 2017 annual meeting of stockholders, our stockholders will have the opportunity to vote on his nomination as a continuing Class I director at the meeting on June 8, 2017.
Mr. Murphy will receive compensation for his service as a director consistent with that of our other non-employee directors. A description of our standard compensation arrangements for non-employee directors is included in our proxy statement filed with the Securities and Exchange Commission on April 19, 2016. We expect Mr. Murphy to enter into our standard form indemnification agreement for non-employee directors, the form of which is filed with the Securities and Exchange Commission as Exhibit 10.16 to our Registration Statement on Form S-1 dated July 9, 2007.
Item 9.01.
Financial Statements and Exhibits.
 (d) Exhibits.
Exhibit No.
  
Description
 
99.1
  
Press release issued on April 7, 2017.






SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
 
 
 
 
 
 
 
 
 
 
 
 
 
lululemon athletica inc.
 
 
 
 
Dated: April 7, 2017
 
 
 
 
 
/s/ STUART HASELDEN
 
 
 
 
 
 
Stuart Haselden
 
 
 
 
 
 
Chief Financial Officer







EXHIBIT INDEX
 
Exhibit No.
  
Description
 
99.1
  
Press release issued on April 7, 2017.




Exhibit

Exhibit 99.1
luluwordmark.jpg

Glenn Murphy joins lululemon athletica Board of Directors
Vancouver, British Columbia – April 7, 2017 – lululemon athletica inc. (NASDAQ:LULU) today announces that Glenn Murphy, Founder and CEO of FIS Holdings, has been appointed to the company's Board of Directors as Co-Chairman, effective immediately. Michael Casey will be stepping down from the role of Co-Chairman, and remain a Director. Mr. Casey will also continue to Chair the Compensation Committee and will remain on the Audit Committee.
"I am grateful for Michael's valuable contributions as Co-Chairman and appreciate his continued commitment as part of the Board for the past 9 years," said David Mussafer, Co-Chairman of lululemon.
"I am delighted to welcome Glenn to the Board as Co-Chairman. An experienced industry executive with more than 25 years in retail, he brings an established track record as a strategic operator across major retail brands," commented David Mussafer.
Laurent Potdevin, CEO, lululemon, added: "Glenn is a seasoned executive with global expertise and I look forward to leveraging his strategic thinking, skills and deep industry knowledge."
As Head of FIS Holdings, Mr. Murphy is responsible for leading the high-impact consumer-focused investment firm deploying a combination of operating guidance and capital flexibility. Prior to founding FIS Holdings, he served as Chairman and CEO of The Gap, Inc. for seven years. Mr. Murphy has also successfully led diverse retail businesses and brands across grocery, pharma, health and beauty, books and lifestyle; having previously served as CEO of Shoppers Drug Mart Corporation, and CEO and President for the Retail Division of Chapters Inc. Mr. Murphy began his career at Loblaws where he spent 14 successful years. He is a graduate of the University of Western Ontario.
Since his return to Toronto, Mr. Murphy has been involved with Sunnybrook Hospital as well as coaching recent university graduates in their early career decisions.
About lululemon athletica inc.
lululemon athletica inc. (NASDAQ:LULU) is a healthy lifestyle inspired athletic apparel company for yoga, running, training, and most other sweaty pursuits, with products that create transformational experiences for people to live happy, healthy, fun lives. 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, visit www.lululemon.com.
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