Lululemon athletica inc.: two officers to depart; two new executives appointed

What happened Lululemon filed an 8-K on Oct 7, 2026 announcing that Nikki Neuburger, chief brand and product activation officer, and Ted Dagnese, chief supply chain officer, will depart the company on Nov 6, 2026 and that each departure will be treated as a termination without cause under their employment agreements. The company also reported that on Sep 30, 2026 it entered into employment agreements to appoint Maggie Gauger as president and chief product officer and Joseph Godsey as chief operating officer, each in newly created roles effective Oct 26, 2026.

Key details

• Departures: Nikki Neuburger and Ted Dagnese will depart on Nov 6, 2026; each departure is treated as a termination without cause for purposes of the departing officer’s employment agreement.
• Maggie Gauger: annual base salary $1,000,000; annual bonus target 150% of base salary; sign-on bonus $1,900,000 (subject to pro-rata repayment if she voluntarily resigns or is terminated for cause within 24 months); one-time restricted stock unit grant valued at $2,800,000 vesting over two years; reimbursement of up to $500,000 for amounts required to be repaid to her former employer; participation in benefit plans and customary severance protections.
• Joseph Godsey: annual base salary $700,000; annual bonus target 100% of base salary; sign-on bonus $650,000 (subject to pro-rata repayment if he voluntarily resigns or is terminated for cause within 24 months); one-time restricted stock unit grant valued at $2,000,000 vesting over two years; participation in benefit plans and customary severance protections.
• Regulation FD disclosure: Meghan Frank will continue as chief financial officer, will take interim oversight of global brand and global technology functions until successors are appointed, and will receive a retention equity award. A press release was attached as Exhibit 99.1.

Why it may matter

• Item 5.02 was reported, which covers departure of directors or certain officers and the election or appointment of officers.
• Item 7.01 was reported for Regulation FD disclosure about expanded responsibilities for the chief financial officer and a retention equity award.
  The filing does not show why the insider traded or why the company acted.