Former Levi's CEO Acquires Shares Worth Approximately 1.4 Billion Won Immediately After Joining Lululemon Board

lululemon athletica Inc. (NASDAQ: LULU) disclosed that its board members and executives received stock awards and conducted share repurchases in March. On March 19, director Charles V. Berg, former CEO of Levi Strauss & Co., was granted 272 restricted stock units (RSUs). The following day, he and his spouse, through their revocable trust, acquired an additional 6,090 shares of lululemon common stock on the open market at $164.20 per share, investing approximately $1 million (about ₩1.4 billion). Earlier, on March 13, André Maestrini, co–interim CEO and president, had 4,692 performance-based shares for 2023–2025 confirmed upon meeting targets; those shares are set to vest on March 30. On March 17, the company also announced Berg’s appointment as a new independent director and that long-serving director David Mussaffer will not stand for re-election at the next annual meeting, part of a broader board restructuring plan.

On March 17, lululemon athletica reported its fourth-quarter and full-year results for fiscal 2025. Fourth-quarter revenue was $3.6408 billion, with diluted earnings per share (EPS) of $5.01. Full-year revenue reached $11.1026 billion, with diluted EPS of $13.26. In the same filing, the company issued guidance for fiscal 2026, forecasting revenue growth of 2–4% year over year and diluted EPS in the range of $12.10 to $12.30.

Headquartered in Vancouver, Canada, lululemon athletica is a Nasdaq-listed global sportswear company specializing in yoga, running, and training apparel, reporting $11.1 billion in revenue for fiscal 2025. The company stated that Berg’s board appointment and increased shareholding are part of its long-term board realignment and leadership and governance strategy.