Lululemon Appoints New CFO, Jonathan T. Chang
Ticker: LULU · Form: 8-K · Filed: May 21, 2024 · CIK: 1397187
Sentiment: neutral
Topics: executive-appointment, cfo, compensation
Related Tickers: LULU
TL;DR
LULU names Jonathan T. Chang new CFO, starting June 10th. Big equity grant incoming.
AI Summary
Lululemon Athletica Inc. announced on May 15, 2024, the appointment of Jonathan T. Chang as Chief Financial Officer, effective June 10, 2024. Chang will receive an annual base salary of $650,000 and will be eligible for a discretionary annual bonus with a target of 100% of his base salary. He will also receive a new hire equity award valued at $5,000,000, vesting over four years.
Why It Matters
The appointment of a new CFO is a significant leadership change that can impact investor confidence and the company's financial strategy moving forward.
Risk Assessment
Risk Level: medium — Changes in key executive positions like CFO can introduce uncertainty regarding future financial strategies and performance.
Key Numbers
- $650,000 — CFO Base Salary (Annual compensation for Jonathan T. Chang.)
- 100% — CFO Bonus Target (Potential annual bonus for Jonathan T. Chang.)
- $5,000,000 — CFO Equity Award (New hire equity grant for Jonathan T. Chang.)
Key Players & Entities
- Lululemon Athletica Inc. (company) — Registrant
- Jonathan T. Chang (person) — Appointed Chief Financial Officer
- $650,000 (dollar_amount) — Annual base salary for new CFO
- 100% (dollar_amount) — Target annual bonus percentage for new CFO
- $5,000,000 (dollar_amount) — New hire equity award value for new CFO
- June 10, 2024 (date) — Effective date for new CFO
- May 15, 2024 (date) — Date of report
FAQ
Who is the new Chief Financial Officer of Lululemon Athletica Inc.?
Jonathan T. Chang has been appointed as the new Chief Financial Officer of Lululemon Athletica Inc.
When does Jonathan T. Chang's appointment as CFO become effective?
Jonathan T. Chang's appointment as CFO is effective June 10, 2024.
What is the annual base salary for the new CFO?
The annual base salary for Jonathan T. Chang is $650,000.
What is the target bonus percentage for the new CFO?
The target annual bonus for Jonathan T. Chang is 100% of his base salary.
What is the value of the new hire equity award for the CFO?
Jonathan T. Chang will receive a new hire equity award valued at $5,000,000, vesting over four years.
Filing Stats: 442 words · 2 min read · ~1 pages · Grade level 11 · Accepted 2024-05-21 17:01:45
Key Financial Figures
- $0.005 — ich registered Common Stock, par value $0.005 per share LULU Nasdaq Global Select Mar
Filing Documents
- lulu-20240515.htm (8-K) — 25KB
- lulu-20240515xex991.htm (EX-99.1) — 14KB
- lulu-20240515_g1.jpg (GRAPHIC) — 74KB
- luluwordmark.jpg (GRAPHIC) — 109KB
- 0001397187-24-000016.txt ( ) — 472KB
- lulu-20240515.xsd (EX-101.SCH) — 2KB
- lulu-20240515_lab.xml (EX-101.LAB) — 22KB
- lulu-20240515_pre.xml (EX-101.PRE) — 13KB
- lulu-20240515_htm.xml (XML) — 3KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 99.1 Press release issued on May 21, 2024. 104 Cover Page Interactive Data File (formatted in iXBRL)
SIGNATURES
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: May 21, 2024 /s/ MEGHAN FRANK Meghan Frank Chief Financial Officer