Annual report pursuant to Section 13 and 15(d)

Subsequent Events

Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

15. Subsequent Events

On January 8, 2019, the Company announced the resignation of Richard P. Goudis, Chief Executive Officer of the Company, effective as of January 8, 2019 and the immediate temporary appointment of Michael O. Johnson, the Company’s Executive Chairman, to the role of Chief Executive Officer. In connection with Mr. Goudis’ resignation, Herbalife International of America, Inc., a wholly-owned subsidiary of the Company, entered into a Separation Agreement and General Release with Mr. Goudis, dated January 8, 2019. All equity awards issued to Mr. Goudis continued to vest in accordance with their existing terms up to through January 8, 2019. Thereafter, all unvested equity awards were forfeited, and any vested and unexercised stock appreciation rights shall expire in accordance with their existing terms. Additionally, the Company shall pay Mr. Goudis remuneration in the amount of $3.5 million which is contingent on Mr. Goudis’ continued compliance with the payment requirements specified in the Separation Agreement and General Release.