The chief executive of sportswear maker Lululemon Athletica Inc. exercised options for 242,049 shares of common stock, according to a filing with the Securities and Exchange Commission.
In a Form 4 filed with the SEC Thursday, Robert Meers reported exercising the options on Tuesday and Wednesday for 49 cents to 60 cents apiece, then selling all 242,049 shares on the same days for about $35.01 apiece.
The transactions were conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Lululemon is based in Vancouver, British Columbia.
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