Schedule 13G/A

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 13G

Under the Securities Exchange Act of 1934

(Amendment No. 4)*

 

 

 

lululemon athletica inc.

(Name of issuer)

 

 

 

Common Stock

(Title of class of securities)

 

550021109

(CUSIP number)

 

December 31, 2011

(Date of event which requires filing of this statement)

 

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

¨ Rule 13d-1(b)

¨ Rule 13d-1(c)

x Rule 13d-1(d)

 

*   The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 


SCHEDULE 13G

 

CUSIP No. 550021109   Page 2 of 7 Pages

 

  (1)   

Names of reporting persons

 

Dennis J. Wilson

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ¨        (b)  ¨

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

Canada

Number of

shares

beneficially

owned by

each

reporting

person

with:

   (5)    

Sole voting power

 

44,006,074(1)

   (6)   

Shared voting power

 

268,984(1)

   (7)   

Sole dispositive power

 

44,006,074(1)

   (8)   

Shared dispositive power

 

268,984(1)

  (9)

 

Aggregate amount beneficially owned by each reporting person

 

44,275,058(1)

(10)

 

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

 

(11)

 

Percent of class represented by amount in Row (9)

 

30.9%(1)(2)

(12)

 

Type of reporting person (see instructions)

 

IN

 

(1) Number reflects a 2-for-1 forward stock split conducted by each of the issuer and Lulu Canadian Holding, Inc., a wholly-owned subsidiary of the issuer (“Lulu Canada”), that was legally effective on July 1, 2011.
(2) Based on 109,359,280 shares of common stock of the issuer outstanding as of November 28, 2011, and 34,124,680 exchangeable shares of Lulu Canada, which exchangeable shares are exchangeable for an equal number of shares of the issuer’s common stock, outstanding as of November 28, 2011.


SCHEDULE 13G

 

CUSIP No. 550021109   Page 3 of 7 Pages

 

  (1)   

Names of reporting persons

 

LIPO Investments (USA), Inc.

  (2)  

Check the appropriate box if a member of a group (see instructions)

(a)  ¨        (b)  ¨

 

  (3)  

SEC use only

 

  (4)  

Citizenship or place of organization

 

British Columbia, Canada

Number of

shares

beneficially

owned by

each

reporting

person

with:

   (5)    

Sole voting power

 

10,328,858(1)

   (6)   

Shared voting power

 

0

   (7)   

Sole dispositive power

 

10,328,858(1)

   (8)   

Shared dispositive power

 

0

  (9)

 

Aggregate amount beneficially owned by each reporting person

 

10,328,858(1)

(10)

 

Check if the aggregate amount in Row (9) excludes certain shares (see instructions)    ¨

 

(11)

 

Percent of class represented by amount in Row (9)

 

7.2%(1)(2)

(12)

 

Type of reporting person (see instructions)

 

CO

 

(1) Number reflects a 2-for-1 forward stock split conducted by each of the issuer and Lulu Canadian Holding, Inc., a wholly-owned subsidiary of the issuer (“Lulu Canada”), that was legally effective on July 1, 2011.
(2) Based on 109,359,280 shares of common stock of the issuer outstanding as of November 28, 2011, and 34,124,680 exchangeable shares of Lulu Canada, which exchangeable shares are exchangeable for an equal number of shares of the issuer’s common stock, outstanding as of November 28, 2011.


SCHEDULE 13G

 

CUSIP No. 550021109   Page 4 of 7 Pages

Item 1.

 

  (a) Name of Issuer:

lululemon athletica inc. (the “Company”)

 

  (b) Address of Issuer’s Principal Executive Offices:

400 – 1818 Cornwall Avenue

Vancouver, British Columbia, Canada V6J 1C7

Item 2.

 

  (a) Name of Person Filing:

Dennis J. Wilson

LIPO Investments (USA), Inc.

 

  (b) Address of Principal Business Office or, if None, Residence:

c/o LIPO Investments (USA), Inc.

#2 – 2108 West 4th Avenue

Vancouver, B.C.

V6K 1N6

 

  (c) Citizenship:

Dennis J. Wilson – Canada

LIPO Investments (USA), Inc. is a corporation organized under the laws of the Province of British Columbia.

 

  (d) Title of Class of Securities:

Common Stock, par value $0.005 per share (“Common Stock”)

 

  (e) CUSIP Number:

550021109

 

Item 3. If this statement is filed pursuant to §§240.13d-l(b) or 240.13d-2(b) or (c), check whether the person filing is a:

 

  (a) ¨  Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o).

 

  (b) ¨  Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c).

 

  (c) ¨  Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c).

 

  (d) ¨  Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8).

 

  (e) ¨  An investment adviser in accordance with §240.13d-l(b)(l)(ii)(E);

 

  (f) ¨  An employee benefit plan or endowment fund in accordance with §240.13d-l(b)(l)(ii)(F);


SCHEDULE 13G

 

CUSIP No. 550021109   Page 5 of 7 Pages

 

  (g) ¨  A parent holding company or control person in accordance with § 240.13d-l(b)(l)(ii)(G);

 

  (h) ¨  A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);

 

  (i) ¨  A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);

 

  (j) ¨  Group, in accordance with §240.13d-l(b)(l)(ii)(J).

 

       x  Not applicable.

 

Item 4. Ownership.

Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.

 

  (a) Amount beneficially owned: Dennis J. Wilson beneficially owns an aggregate of 44,275,058 shares of Common Stock. Such amount includes 33,585,456 shares of Common Stock issuable upon the exchange of exchangeable shares of Lulu Canadian Holding, Inc. held by Mr. Wilson, 268,984 shares of Common Stock issuable upon the exchange of exchangeable shares of Lulu Canadian Holding, Inc. held by Mr. Wilson’s wife, 10,328,858 shares of Common Stock held by LIPO Investments (USA), Inc., an entity which Mr. Wilson controls and 91,760 shares of Common Stock issuable upon the exchange of exchangeable shares of Lulu Canadian Holding, Inc. held by Five Boys Investments ULC, an entity which Mr. Wilson controls. Lulu Canadian Holding, Inc. is the Company’s indirect wholly owned subsidiary. Exchangeable shares of Lulu Canadian Holding, Inc. may be exchanged on a one-for-one basis for shares of the Company’s Common Stock. Each of the foregoing numbers reflects a 2-for-1 forward stock split conducted by each of the issuer and Lulu Canadian Holding, Inc. that was legally effective on July 1, 2011.

 

  (b) Percentage of Class:

 

   

Dennis J. Wilson: 30.9%

 

   

LIPO Investments (USA), Inc.: 7.2%

 

  (c) Number of shares as to which the person has:

 

  (i) Sole power to vote or to direct the vote:

 

   

Dennis J. Wilson: 44,006,074

 

   

LIPO Investments (USA), Inc.: 10,328,858

 

  (ii) Shared power to vote or to direct the vote:

 

   

Dennis J. Wilson: 268,984

 

   

LIPO Investments (USA), Inc.: 0

 

  (iii) Sole power to dispose or to direct the disposition of:

 

   

Dennis J. Wilson: 44,006,074

 

   

LIPO Investments (USA), Inc.: 10,328,858


SCHEDULE 13G

 

CUSIP No. 550021109   Page 6 of 7 Pages

 

  (iv) Shared power to dispose or to direct the disposition of:

 

   

Dennis J. Wilson: 268,984

 

   

LIPO Investments (USA), Inc.: 0

 

Item 5. Ownership of Five Percent or Less of a Class. If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ¨

 

Item 6. Ownership of More than Five Percent on Behalf of Another Person.

Not applicable.

 

Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company.

Not applicable.

 

Item 8. Identification and Classification of Members of the Group.

Not applicable.

 

Item 9. Notice of Dissolution of Group.

Not applicable.

 

Item 10. Certification.

Not applicable.

 


SCHEDULE 13G

 

CUSIP No. 550021109   Page 7 of 7 Pages

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Date: February 10, 2012

 

     

/s/ Dennis J. Wilson

     

Dennis J. Wilson

 

   

LIPO Investments (USA), Inc.

   

By:

 

/s/ Dennis J. Wilson

     

Dennis J. Wilson

     

Authorized Officer