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*
LEVY ROBERT
(Last) (First) (Middle)
800 W. OLYMPIC BLVD.,
SUITE 406
(Street)
LOS ANGELES CA 90015
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
05/01/2025 		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)
President - Worldwide Markets
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 16,309(1) D
Common Stock 433,049 I By Trust
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)
Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Appreciation Rights (2) 05/09/2026 Common Stock 43,668 31.255 D
Stock Appreciation Rights (3) 02/27/2027 Common Stock 45,902 28.595 D
Stock Appreciation Rights (4) 05/04/2033 Common Stock 80,049 13.6 D
Stock Appreciation Rights (5) 05/03/2034 Common Stock 98,684 9.58 D
Stock Appreciation Rights (6) 02/21/2035 Common Stock 63,795 8.31 D
Explanation of Responses:
1. Balance includes 15,292 unvested restricted stock units ("RSUs") previously granted to the Reporting Person, of which: 11,948 were granted on May 4, 2023, of which 2/3 have vested, and 1/3 will vest on May 4, 2026; 16,962 were granted on May 3, 2024, of which 2/3 have vested, and 1/3 will vest on May 4, 2026.
2. These stock appreciation rights were fully vested as of May 9, 2019.
3. These stock appreciation rights were fully vested as of February 27, 2020.
4. On May 4, 2023, the reporting person was granted 80,049 stock appreciation rights, of which 2/3 have vested, and 1/3 will vest on May 4, 2026.
5. On May 3, 2024, the reporting person was granted 98,684 stock appreciation rights, of which 1/3 has vested, 1/3 will vest on May 3, 2026, and 1/3 will vest on May 3, 2027.
6. On February 21, 2025, the reporting person was granted 63,795 stock appreciation rights that will vest in 1/3 increments on February 21, 2026, February 21, 2027, and February 21, 2028.
/s/ Alaaeddine Sahibi, as Attorney-In-Fact for Robert Levy 05/12/2025
** 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.

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