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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(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)

Rule 13d-1(d)

SCHEDULE 13D/A 0002003936 XXXXXXXX LIVE 11 Common Stock 12/12/2025 false 0001397187 550021109 lululemon athletica inc. 1818 Cornwall Avenue Vancouver A1 V6J 1C7 Dennis J. Wilson 604-737-7232 21 Water Street, Suite 600 Vancouver, British Columbia Z4 V6B 1A1 William Brentani 650-251-5110 2475 Hanover Street Palo Alto CA 94304 0001407029 N Dennis J. Wilson a OO N Z4 3852.00 9901004 3852.00 9901004 9904856 N 8.4 IN Y Anamered Investments Inc. a OO N D8 0.00 4755217.00 0.00 4755217.00 4755217.00 N 4.1 CO 0002003936 N LIPO Investments (USA), Inc. a OO N A1 0.00 3401596.00 0 3401596.00 3401596.00 N 2.9 CO Y Wilson 5 Foundation a OO N A1 0.00 829325 0.00 829325 829325 N 0.7 OO Y Wilson 5 Foundation Management Ltd. a OO N A1 0.00 829325 0.00 829325 829325 N 0.7 CO Y Five Boys Investments ULC a OO N A1 0.00 91760.00 0.00 91760.00 91760.00 N 0.1 OO Y Shannon Wilson a OO N Z4 0.00 1098309 0.00 1098309 1098309 N 0.9 IN 0001972360 N Low Tide Properties Ltd. a OO N A1 0.00 554122 0.00 554122 554122 N 0.5 CO Common Stock lululemon athletica inc. 1818 Cornwall Avenue Vancouver A1 V6J 1C7 This Amendment No. 11 (this "Amendment") is being filed by Dennis J. Wilson, Anamered Investments Inc. ("Anamered"), LIPO Investments (USA), Inc. ("LIPO"), Wilson 5 Foundation ("Wilson 5"), Wilson 5 Foundation Management Ltd. ("Wilson 5 Trustee"), Five Boys Investments ULC ("Five Boys"), Shannon Wilson, and Low Tide Properties Ltd. ("Low Tide") (collectively, the "Reporting Persons") and amends and supplements the Schedule 13D filed with the Securities and Exchange Commission by the Reporting Persons on February 14, 2019 (as amended, the "Schedule 13D") to reflect an update to Item 4 of the Schedule 13D. The Reporting Persons are filing this Amendment to amend Item 4 and Item 7 of the Schedule 13D to reflect a press release issued by Mr. Wilson on December 12, 2025. The Items below amend the information disclosed under the corresponding Items in the Schedule 13D as described below. Capitalized terms used but not defined in this Amendment shall have the same meanings ascribed to them in the Schedule 13D. Except as specifically provided herein, this Amendment does not modify any of the information previously reported in the Schedule 13D. Item 4 is hereby amended and supplemented as follows: On December 12, 2025, in response to the announcement of the market-unanticipated departure of the Issuer's Chief Executive Officer, Calvin McDonald, Mr. Wilson issued a press release (the "December 12th Press Release"), a copy of which is attached as Exhibit 5 to this Amendment. In the December 12th Press Release, Mr. Wilson set forth his views regarding the Issuer's failure to effectively manage a succession plan, and reiterated his belief in the need for the Issuer to add refreshed, experienced directors who can advise on the CEO selection process and hold management accountable to restore the value of the Issuer for shareholders. The information contained in Exhibit 5 of this Amendment is incorporated herein by reference. Mr. Wilson has attempted to constructively engage with the Issuer to arrive at a solution that Mr. Wilson believes puts the Issuer in the best position to unlock value for the benefit of all shareholders. However, notwithstanding Mr. Wilson being the Issuer's largest shareholder filing on Schedule 13D, and his obvious extensive experience with the Issuer and its industry, there are no assurances that Mr. Wilson's constructive attempts and suggestions to help the Issuer improve across all measurable quantitative and qualitive metrics will be acknowledged or acted upon by the board of directors of the Issuer. Mr. Wilson may continue to engage with the Issuer depending on the Issuer's openness to taking actions, which Mr. Wilson does not believe are taken reluctantly or only as a result of the public agitation by Mr. Wilson or other shareholders of the Issuer, that unreservedly demonstrate the Issuer is open to resolving what Mr. Wilson believes to be its problems. Absent an ability to arrive at an agreeable framework on which discussions between the Issuer and Mr. Wilson can reasonably progress, Mr. Wilson may be compelled to take actions necessary to demonstrate his commitment to refreshing the board of directors of the Issuer in the best interests of all shareholders. Item 5(a) is amended and restated in its entirety as follows: Anamered may be deemed to beneficially own 4,755,217 shares of the Issuer's common stock, or 4.1%. LIPO may be deemed to beneficially own 3,401,596 shares of the Issuer's common stock, or 2.9%. Each of Wilson 5 and Wilson 5 Trustee may be deemed to beneficially own 829,325 shares of the Issuer's common stock, or 0.7%. Five Boys may be deemed to beneficially own 91,760 shares of the Issuer's common stock, or 0.1%. Mrs. Wilson may be deemed to beneficially own 1,098,309 shares of the Issuer's common stock, or 0.9%. Low Tide may be deemed to beneficially own 554,122 shares of the Issuer's common stock, or 0.5%. Mr. Wilson may be deemed to beneficially own 9,904,856 shares of the Issuer's common stock, or 8.4%, including the shares held by the other Reporting Persons. The foregoing is based on 112,190,041 shares of the Issuer's common stock and 5,115,961 shares of the Issuer's special voting stock outstanding as of December 5, 2025 as disclosed by the Issuer in its Quaterly Report on Form 10-Q filed with the Securities and Exchange Commission on December 11, 2025. Each share of the Issuer's special voting stock has voting rights equivalent to one share of the Issuer's common stock, but no economic rights. Each share of the Issuer's special voting stock is paired with an exchangeable share (an "exchangeable share") of Lulu Canadian Holding, Inc., a wholly owned subsidiary of the Issuer ("Lulu Canada"). Holders of exchangeable shares may require Lulu Canada to redeem each of its exchangeable shares in exchange for one share of the Issuer's common stock plus a cash payment equal to any accrued and unpaid dividends on the exchangeable shares. When exchangeable shares are exchanged into shares of the Issuer's common stock, the Issuer cancels a corresponding number of shares of special voting stock without consideration. As a result, each exchangeable share, together with its paired share of special voting stock, may be deemed to represent beneficial ownership of one share of the Issuer's common stock. Item 5(b) is amended and restated in its entirety as follows: The information set forth in Items 7, 8, 9, 10, and 11 of the cover pages to this Amendment is incorporated herein by reference. Anamered directly holds 4,755,217 exchangeable shares and an equal number of shares of the Issuer's special voting stock. LIPO directly holds 3,401,596 shares of the Issuer's common stock. Wilson 5 directly holds 829,325 shares of the Issuer's common stock. Five Boys directly holds 91,760 exchangeable shares and an equal number of shares of the Issuer's special voting stock. Mrs. Wilson directly holds 268,984 exchangeable shares and an equal number of shares of the Issuer's special voting stock. Low Tide directly holds 554,122 shares of the Issuer's common stock. Mr. Wilson directly holds 3,853 shares of the Issuer's common stock. Mr. Wilson may be deemed to have shared voting or dispositive power over the securities beneficially owned by Anamered, LIPO, Wilson 5, Wilson 5 Trustee, Five Boys. Mrs. Wilson, and Low Tide. Wilson 5 Trustee may be deemed to have shared voting or dispositive power over the securities beneficially owned by Wilson 5. Mrs. Wilson may be deemed to have shares voting or dispositive power over the securities that she holds directly as well as those beneficially owned by Wilson 5. Item 5(c) of the Schedule 13D is hereby amended and supplemented as follows: On October 16, 2025, Wilson 5 sold 12,164 shares of the Issuer's common stock at a volume weighted average price of $164.69 per share in open market transactions. Item 7 of the Schedule 13D is hereby amended and supplemented as follows: Exhibit 5 Press Release Entitled "Chip Wilson Comments on Leadership Change at lululemon" Dennis J. Wilson /s/ Dennis J. Wilson Dennis J. Wilson 12/15/2025 Anamered Investments Inc. /s/ Dennis J. Wilson Dennis J. Wilson, Director 12/15/2025 LIPO Investments (USA), Inc. /s/ Dennis J. Wilson Dennis J. Wilson, Director 12/15/2025 Wilson 5 Foundation /s/ Dennis J. Wilson Dennis J. Wilson, Director of Wilson 5 Foundation Management Ltd, corporate trustee of Wilson 5 Foundation 12/15/2025 Wilson 5 Foundation Management Ltd. /s/ Dennis J. Wilson Dennis J. Wilson, Director 12/15/2025 Five Boys Investments ULC /s/ Dennis J. Wilson Dennis J. Wilson, Director 12/15/2025 Shannon Wilson /s/ Shannon Wilson Shannon Wilson 12/15/2025 Low Tide Properties Ltd. /s/ Dennis J. Wilson Dennis J. Wilson, Director 12/15/2025