SEC Form 4
FORM 4 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
or Section 30(h) of the Investment Company Act of 1940
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
JOHNSON MICHAEL

(Last) (First) (Middle)
800 W. OLYMPIC BOULEVARD, #406

(Street)
LOS ANGELES CA 90015

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
HERBALIFE LTD. [ HLF ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chairman & CEO
3. Date of Earliest Transaction (Month/Day/Year)
08/09/2012
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 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 08/09/2012 G (1) V 56,281 D $0.00 863,868 D
Common Stock 08/09/2012 G (1) V 56,281 A $0.00 920,149 D
Common Stock 08/23/2012 G (2) V 75,000 D $0.00 770,149 (3) D
Common Stock 09/04/2012 A (4) 513 A $0.00 770,662 D
Common Stock 08/23/2012 G (5) V 75,000 A $0.00 154,420 I Beneficially owned through Spouse's GRAT (6)
Common Stock 154,420 I Beneficially owned through GRAT (7)
Common Stock 113,122 I Beneficially owned through Michael O. Johnson IRA
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 (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 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 (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (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: 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
Explanation of Responses:
1. This report is voluntarily filed to reflect the contribution by the reporting person of 56,281 shares of the issuer's common stock to the Johnson Family Trust, a trust of which the reporting person is co-trustee and co-beneficiary.
2. The reporting person and his spouse have entered into a transmutation agreement pursuant to which the reporting person and his spouse agreed that 75,000 shares of Herbalife common stock owned by the reporting person and his spouse as community property would be deemed to be the separate property of his spouse and 75,000 shares of Herbalife common stock owned by the reporting person and his spouse as community property would be deemed to be the separate property of the reporting person. Concurrently with the entry into this agreement, the reporting person's spouse contributed such shares to a grantor retained annuity trust for which she is the sole beneficiary and the initial trustee. Accordingly, such shares are now reported as indirectly owned by the reporting person through his spouse's grantor retained annuity trust.
3. The amount of securities beneficially owned directly by the reporting person following this transaction has been reduced by 75,000 shares to reflect the contribution by the reporting person on August 23, 2012, of 75,000 shares of Herbalife common stock to a grantor retained annuity trust for which the reporting person is the sole beneficiary and the initial trustee. Such shares are now reported as indirectly owned by the reporting person through his grantor retained annuity trust. These 75,000 shares of Herbalife common stock are the shares deemed to be the separate property of the reporting person pursuant to a transmutation agreement he signed with his spouse.
4. Consists of dividend equivalents accrued with respect to previous awards of restricted stock units granted under the Herbalife Ltd. 2005 Stock Incentive Plan.
5. The amount of securities beneficially owned directly by the reporting person following this transaction has been reduced by 75,000 shares to reflect the contribution by the reporting person on August 23, 2012, of 75,000 shares of Herbalife common stock to a grantor retained annuity trust for which the reporting person's spouse is the sole beneficiary and the initial trustee. Such shares are now reported as indirectly owned by the reporting person through the grantor retained annuity trust of his spouse. These 75,000 shares of Herbalife common stock are the shares deemed to be the separate property of the reporting person's spouse pursuant to their transmutation agreement.
6. The reporting person's spouse is the sole beneficiary and initial trustee of her grantor retained annuity trust.
7. The reporting person is the sole beneficiary and the initial trustee of his grantor retained annuity trust.
Remarks:
Michael O. Johnson by Brett R. Chapman, Attorney-in-Fact 09/05/2012
** Signature of Reporting Person Date
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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