Sec Form 4 Filing - Liaw Eric @ Lulu's Fashion Lounge Holdings, Inc. - 2022-09-16

FORM 4 Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940

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1. Name and Address of Reporting Person Liaw Eric 2. Issuer Name and Ticker or Trading Symbol Lulu's Fashion Lounge Holdings, Inc. [ LVLU] 5. Relationship of Reporting Person(s) to Issuer (Check all applicable) X __ Director X __ 10% Owner _____ Officer (give title below) _____ Other (specify below) (Last) (First) (Middle) C/O LULUS FASHION LOUNGE HOLDINGS, INC., 195 HUMBOLDT AVENUE 3. Date of Earliest Transaction (MM/DD/YY) 09/16/2022 (Street) CHICO, CA95928 4. If Amendment, Date Original Filed (MM/DD/YY) 6. Individual or Joint/Group Filing (Check Applicable Line) __ X __ Form filed by One Reporting Person _____ Form filed by More than One Reporting Person (City) (State) (Zip)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned 1.Title of Security (Instr. 3) 2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4) Code V Amount (A) or (D) Price Common Stock 09/16/2022 J( 1 ) 6,522 D 2,437 D( 2 ) Common Stock 09/16/2022 J( 1 ) 3,262 A 3,262 I Directly held by Institutional Venture Management XV, LLC( 3 ) Common Stock 09/16/2022 J( 1 ) 3,260 A 3,260 I Directly held by Institutional Venture Management XVI, LLC( 4 ) Common Stock (RSUs) 28,047 D( 2 ) Common Stock 3,730,160 I Directly held by Institutional Venture Partners XV, L.P.( 5 ) Common Stock 19,843 I Directly held by Institutional Venture Partners XV Executive Fund, L.P.( 6 ) Common Stock 3,749,997 I Directly held by Institutional Venture Partners XVI, L.P.( 7 )

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities) 1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) 6. Date Exercisable and Expiration Date (MM/DD/YY) 7. Title and Amount of Underlying Securities (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4) Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares

Reporting Owners Reporting Owner Name / Address Relationships Director 10% Owner Officer Other Liaw Eric C/O LULUS FASHION LOUNGE HOLDINGS, INC. 195 HUMBOLDT AVENUE CHICO, CA95928 X X Signatures /s/ Eric Liaw 09/20/2022 Signature of Reporting Person Date

Explanation of Responses:

( 1 )Represents the transfer of shares received by the Reporting Person upon the settlement of restricted stock units ("RSUs") that the Reporting Person received pursuant to the Issuer's non-employee director compensation policy. Pursuant to a series of Director Compensation Assignment Agreements, the Reporting Person has agreed to assign the beneficial interest in any equity awards granted to him for his service as director of the Issuer to Institutional Venture Management XV, LLC ("IVM XV") and Institutional Venture Management XVI, LLC ("IVM XVI"). ( 2 )Pursuant to a series of Director Compensation Assignment Agreements, these securities are held directly by the Reporting Person for the benefit of IVM XV and IVM XVI. The Reporting Person disclaims beneficial ownership of these securities except to the extent of his pecuniary interest therein. ( 3 )The Reporting Person is a managing director of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVM XV. The Reporting Person disclaims beneficial ownership of the shares held by IVM XV except to the extent of his pecuniary interest therein. ( 4 )The Reporting Person is a managing director of IVM XVI and may be deemed to share voting and dispositive power over the shares held by IVM XVI. The Reporting Person disclaims beneficial ownership of the shares held by IVM XVI except to the extent of his pecuniary interest therein. ( 5 )IVM XV is the general partner of Institutional Venture Partners XV, L.P. ("IVP XV"). The Reporting Person is a managing director of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVP XV. The Reporting Person disclaims beneficial ownership of the shares held by IVP XV except to the extent of his pecuniary interest therein. ( 6 )IVM XV is the general partner of Institutional Venture Partners XV Executive Fund, L.P. ("IVP XV EF"). The Reporting Person is a managing director of IVM XV and may be deemed to share voting and dispositive power over the shares held by IVP XV EF. The Reporting Person disclaims beneficial ownership of the shares held by IVP XV EF except to the extent of his pecuniary interest therein. ( 7 )IVM XVI is the general partner of Institutional Venture Partners XVI, L.P. ("IVP XVI"). The Reporting Person is a managing director of IVM XVI and may be deemed to share voting and dispositive power over the shares held by IVP XVI. The Reporting Person disclaims beneficial ownership of the shares held by IVP XVI except to the extent of his pecuniary interest therein.

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).

** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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