Ibelis Montesino - 01 May 2025 Form 3 Insider Report for HERBALIFE LTD. (HLF)

Role: MD, North America
Signature: /s/ Alaaeddine Sahibi, as Attorney-In-Fact for Ibelis Montesino
Issuer symbol: HLF
Transactions as of: 01 May 2025
Net transactions value: $0
Form type: 3
Filing time: 12 May 2025, 19:37:49 UTC
Previous filing: 07 May 2024
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Montesino Ibelis	MD, North America	800 W. OLYMPIC BLVD., SUITE 406, LOS ANGELES	/s/ Alaaeddine Sahibi, as Attorney-In-Fact for Ibelis Montesino	12 May 2025	0001513887

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
holding	HLF	Common Stock						33,499	01 May 2025	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	HLF	Stock Appreciation Rights							01 May 2025	Common Stock	80,049	$13.60	Direct	F2
holding	HLF	Stock Appreciation Rights							01 May 2025	Common Stock	30,068	$18.61	Direct	F3
holding	HLF	Stock Appreciation Rights							01 May 2025	Common Stock	151,821	$9.58	Direct	F4
holding	HLF	Stock Appreciation Rights							01 May 2025	Common Stock	55,309	$8.31	Direct	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Balance includes 33,058 unvested restricted stock units ("RSUs") previously granted to the Reporting Person, of which: 14,236 were granted on November 2, 2022, of which 40% has vested, and 60% will vest on November 2, 2025; 11,948 were granted on May 4, 2023, of which 2/3 have vested, and 1/3 will vest on May 4, 2026; 4,701 were granted on August 4, 2023, of which 1/3 has vested, 1/3 will vest on August 3, 2025, and 1/3 will vest on August 3, 2026; 26,096 were granted on May 3, 2024, of which 1/3 has vested, 1/3 will vest on May 3, 2026, and 1/3 will vest on May 3, 2027. All RSU vestings are subject to continued service through each applicable date.
F2	On May 4, 2023, the reporting person was granted 80,049 stock appreciation rights ("SARs") that vests in 1/3 increments on the annual anniversary of the date of grant.
F3	On August 4, 2023, the reporting person was granted 30,068 SARs which vests in 1/3 increments on the annual anniversary of the date of grant.
F4	On May 3, 2024, the reporting person was granted 151,821 SARs which vests in 1/3 increments on the annual anniversary of the date of grant.
F5	On February 21, 2025, the reporting person was granted 55,309 SARs which vests in 1/3 increments on the annual anniversary of the date of grant.