lululemon athletica inc. (NASDAQ:LULU) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On February 14, 2018, in connection with Mr. Murphy’s appointment as Executive Chairman, the Compensation Committee of lululemon’s board of directors approved an annual salary for Mr. Murphy in the amount of $500,000 per year, payable in accordance with lululemon’s customary payroll practices and pro-rated for the time Mr. Murphy serves asExecutive Chairman. This salarywill be in lieu of any cash retainer and committee fees to which Mr. Murphy might otherwise be entitled in his role as a member of the board of directors or any committee thereof. Mr. Murphy also received a grant in stock options with a value of $500,000, which will vest over a three year period. While serving as Executive Chairman, Mr. Murphy will not be entitled to receive the annual equity awards to which non-employee directors are entitled under lululemon’s outside director compensation plan (currently an annual grant of restricted stock with a fair value at the time of grant of $125,000).

About lululemon athletica inc. (NASDAQ:LULU)
Lululemon Athletica Inc. is a designer, distributor and retailer of technical athletic apparel. The Company’s segments include Company-operated stores, Direct to consumer and Other. The Company offers a line of apparel and accessories for women, men and female youth. Its apparel assortment includes items, such as pants, shorts, tops and jackets designed for healthy lifestyle activities and athletic pursuits, such as yoga, running, other sweaty pursuits and athletic wear for female youth. The Company conducts its business through two channels: Company-operated stores and direct to consumer. It operates approximately 360 Company-operated stores located in the United States, Canada, Australia, New Zealand, the United Kingdom, Singapore, Hong Kong, Germany and Puerto Rico. Its direct to consumer segment includes lululemon and ivivva e-commerce Websites, www.lululemon.com and www.ivivva.com, and other country and region specific Websites.