X0306 4 2016-04-27 0 0001180262 HERBALIFE LTD. HLF 0001373040 Walsh Des 800 W. OLYMPIC BOULEVARD, #406 LOS ANGELES CA 90015 0 1 0 0 President Stock Appreciation Rights 79.58 2016-04-27 4 A 0 32796 0.00 A 2016-06-21 2023-12-19 Common Stock 32796 54661 D On December 19, 2013, the reporting person was granted an award of 54,661 stock appreciation rights (SARs). The amount and timing of the vesting of these SARs were dependent upon Herbalife Ltd.'s achievement of certain performance criteria for each of fiscal 2013, 2014 and 2015. The performance criteria were met in 2015, resulting in the vesting of 32,796 SARs subject to this award on June 21, 2016. /s/ Mark J. Friedman, Attorney-in-Fact for Des Walsh 2016-12-30