Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Day Christine McCormick
   2. Issuer Name and Ticker or Trading Symbol
lululemon athletica inc. [LULU] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Chief Executive Officer
(Last)
(First)
(Middle)
C/O LULULEMON ATHLETICA INC., 400 - 1818 CORNWALL AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
09/11/2012
(Street)

VANCOUVER, A1 V6J 1C7		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/24/2012   M   28,474 A $ 11.01 36,706 D  
Common Stock 09/24/2012   S   28,474 D $ 74.57 (1) 35,232 D  
Common Stock 09/25/2012   M   13,194 A $ 11.01 48,426 D  
Common Stock 09/25/2012   S   13,194 D $ 74.25 35,232 D  
Common Stock 09/25/2012   M   41,668 A $ 9.455 76,900 D  
Common Stock 09/25/2012   S   41,668 D $ 74.64 (2) 35,232 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $ 76.49 09/11/2012   A   9,200     (3) 09/11/2019 Common Stock 9,200 $ 0 9,200 D  
Stock Option (Right to Buy) $ 11.01 09/24/2012   M     28,474   (4) 08/01/2018 Common Stock 28,474 $ 0 13,194 D  
Stock Option (Right to Buy) $ 11.01 09/25/2012   M     13,194   (4) 08/01/2018 Common Stock 13,194 $ 0 0 D  
Stock Option (Right to Buy) $ 9.455 09/25/2012   M     41,668   (5) 09/02/2018 Common Stock 41,668 $ 0 0 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Day Christine McCormick
C/O LULULEMON ATHLETICA INC.
400 - 1818 CORNWALL AVENUE
VANCOUVER, A1 V6J 1C7		   X     Chief Executive Officer  

Signatures

 Christine M. Day, by David Negus, Attorney-in-Fact   10/01/2012
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $74.50 to $74.75 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
(2) Represents a weighted-average price. These shares were sold in multiple transactions at prices ranging from $74.50 to $75.00 inclusive. For all transactions reported in this Form 4 utilizing a weighted-average price, the reporting person will provide to the issuer, any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range.
(3) These options shall vest as to 25% on each of September 11, 2013, September 11, 2014, September 11, 2015 and September 11, 2016.
(4) These options vested as to 25% per year on each of August 1, 2009, August 1, 2010, August 1, 2011 and August 1, 2012.
(5) These options vested as to 25% per year on each of September 2, 2009, September 2, 2010, September 2, 2011 and September 2, 2012.

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