X0306 4 2017-02-23 0 0001180262 HERBALIFE LTD. HLF 0001513887 Fleming Ibelis 800 W. OLYMPIC BLVD., SUITE 406 LOS ANGELES CA 90015 0 1 0 0 SVP/Managing Dir North America Stock Appreciation Rights 59.98 2017-02-23 4 A 0 11547 0.00 A 2017-04-30 2024-04-30 Common Stock 11547 19245 D Stock Appreciation Rights 30.44 2017-02-23 4 A 0 6525 0.00 A 2017-03-02 2025-03-02 Common Stock 6525 13050 D Stock Appreciation Rights 47.80 2017-02-23 4 A 0 2500 0.00 A 2017-05-07 2025-05-07 Common Stock 2500 5000 D Stock Appreciation Rights 62.51 2017-02-23 4 A 0 2688 0.00 A 2017-05-09 2026-05-09 Common Stock 2688 2688 D On April 30, 2014, the reporting person was granted an award of 19,245 stock appreciation rights ("SARs"). The amount and timing of the vesting of these SARs is dependent upon the achievement by Herbalife Ltd. (the "Company") of certain performance criteria for each of fiscal 2014, 2015 and 2016. The performance criteria for 2016 was met, resulting in 11,547 SARs which will vest on April 30, 2017. On March 2, 2015, the reporting person was granted an award of 32,626 SARs. The amount and timing of the vesting of these SARs is dependent upon the achievement by the Company of certain performance criteria for each of fiscal 2015, 2016 and 2017. The performance criteria for 2016 was met, resulting in 6,525 SARs which will vest on March 2, 2017. On May 7, 2015, the reporting person was granted an award of 12,500 SARs. The amount and timing of the vesting of these SARs is dependent upon the achievement by the Company of certain performance criteria for each of fiscal 2015, 2016 and 2017. The performance criteria for 2016 was met, resulting in 2,500 SARs which will vest on May 7, 2017. On May 9, 2016, the reporting person was granted an award of 13,436 SARs. The amount and timing of the vesting of these SARs is dependent upon the achievement by the Company of certain performance criteria for each of fiscal 2016, 2017 and 2018. The performance criteria for 2016 was met, resulting in 2,688 SARs which will vest on May 9, 2017. /s/ Mark J. Friedman, Attorney-in-Fact for Ibelis Fleming 2017-02-27