10.23%SPY 127.82 0.19%FRE 3.16 
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NEW YORK - The chief executive of sportswear maker Lululemon Athletica Inc. exercised options for and then sold 80,683 shares of common stock under a prearranged trading plan, according to a filing with the Securities and Exchange Commission Tuesday.
| LULU | 19.53 |  -0.8 |
In a Form 4 filed with the SEC Thursday, Robert Meers reported exercising the options on Friday for 49 cents to 60 cents apiece, and then sold the shares the same day for $36.40 apiece.
The transactions were conducted under a prearranged 10b5-1 trading plan which allows a company insider to set up a program in advance for such transactions and proceed with them even if he or she comes into possession of material non-public information.
Insiders file Form 4s with the SEC to report transactions in their companies' shares. Open market purchases and sales must be reported within two business days of the transaction.
Lululemon is based in Vancouver, British Columbia.
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