Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  Equities  >  Toronto Stock Exchange  >  Lululemon Athletica inc.    LULU

SummaryChartsNewsAnalysisCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsSector news 

Lululemon Athletica Inc : Lululemon chairman sold stock before CEO's surprise departure

share with twitter share with LinkedIn share with facebook
share via e-mail
0
06/13/2013 | 04:24am CEST

Yogawear maker Lululemon Athletica Inc's Chairman Dennis "Chip" Wilson sold stock worth $50 million days before shares slumped on the news of Chief Executive Christine Day's surprise departure.

Wilson, who founded the company in 1998 and remains its largest voting shareholder, set up the sales plan in December, the Wall Street Journal reported citing InsiderScore.com, which tracks insider trading and institutional ownership.

Wilson sold 607,545 shares at $81.50 each on Friday, earning $49.5 million, according to a regulatory filing. (http://link.reuters.com/zux78t)

The SEC allows company executives to trade their own stock by using a preset plan known as 10b5-1, even when they have access to private information.

Lululemon shares slumped as much as 15 percent in extended trading on Monday after Day announced her departure plans. The shares dropped about 17 percent on Tuesday amid price target cuts and downgrades by Wall Street analysts.

The maker of high-end, fashionable workout wear had to recall its excessively see-through yoga pants in March, which proved a huge blow.

(Reporting by Garima Goel in Bangalore; Editing by Stephen Coates)

share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news on LULULEMON ATHLETICA INC.
05/25 LULULEMON ATHLETICA INC. : Announces First Quarter Fiscal 2016 Earnings Conferen..
05/21 LULULEMON ATHLETICA : Blackbird Technologies Settles Three Sports Bra Cases
05/20 LULULEMON ATHLETICA : Blackbird Technology Settles Three Sports Bra Cases
05/19 LULULEMON ATHLETICA : Row, row, row your best
05/10 LULULEMON ATHLETICA : Discover What's Happening This Summer at Silicon Valley's ..
05/05 LULULEMON ATHLETICA : boasts strong finish at close of 2015
05/04 BRIEF : Lululemon youth store Ivivva opening Friday at Mall at Millenia
04/19 LULULEMON ATHLETICA : Change in Directors or Principal Officers (form 8-K)
04/19 LULULEMON ATHLETICA : Jon McNeill Joins lululemon athletica Board of Directors
04/05 LULULEMON ATHLETICA : boasts strong finish at close of 2015
Advertisement
News chart
Full-screen chart
Income Statement Evolution
More Financials