lululemon chairman to establish trading plan to sell up to 5.7M shares

lululemon (LULU) disclosed in a regulatory filing that Dennis Wilson, its founder and Chairman of the Board, intends to establish a pre-arranged stock trading plan to sell a portion of his stock in the company over time as part of his individual long-term strategy for asset diversification and liquidity. Under the plan Wilson proposes to adopt, he would sell up to 5.7M shares of lululemon common stock over a period of approximately 18 months, the company said. The shares sold under the plan would include shares of the company’s common stock issuable upon the exchange of exchangeable shares of Lulu Canadian Holding, Inc. held by Wilson. If Wilson completed all the planned sales under this Rule 10b5-1 trading plan, he would beneficially own approximately 36.9M shares, or approximately 25.6%, of the company’s outstanding common stock and common stock issuable upon exchange, the company stated, adding that Wilson indicated transactions under the plan would commence no earlier than January 10, 2013.

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