SEC FORM 3

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Montesino Ibelis

(Last)

(First)

(Middle)

800 W. OLYMPIC BLVD., SUITE 406

(Street)

LOS ANGELES

90015

(City)

(State)

(Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
07/01/2023

3. Issuer Name and Ticker or Trading Symbol
HERBALIFE LTD. [ HLF ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
EVP & Chief of Staff

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock	144,619⁽¹⁾	D

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
1. Title of Derivative Security (Instr. 4)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
Stock Appreciation Rights	⁽²⁾	05/04/2033	Common Stock	80,049	13.6	D

Explanation of Responses:

1. Balance includes 144,619 unvested restricted stock units ("RSUs") previously granted to the Reporting Person, of which: 10,096 were granted on August 8, 2020, of which 100% will vest on August 8, 2023; 8,276 were granted on February 19, 2021, of which 20% vested on February 19, 2022, 20% vested on February 19, 2023, and 60% will vest on February 19, 2024; 10,920 were granted on February 25, 2022, of which 20% vested on February 25, 2023, 20% will vest on February 25, 2024, and 60% will vest on February 25, 2025; 14,236 were granted on November 2, 2022, of which 20% will vest on November 2, 2023, 20% will vest on November 2, 2024, and 60% will vest on November 2, 2025; 94,637 were granted on December 9, 2022 and will vest 100% on December 9, 2024; 11,948 were granted on May 4, 2023, that will vest in 1/3 increments on May 4, 2024, May 4, 2025, and May 4, 2026. All RSU vestings are subject to continued service through each applicable date.

2. On May 4, 2023, the reporting person was granted 80,049 stock appreciation rights that will vest in 1/3 increments on May 4, 2024, May 4, 2025, and May 4, 2026.

Remarks:

	Alaaeddine Sahibi, as Attorney-In-Fact for Ibelis Montesino	07/10/2023
	** 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 5 (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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.