HERBALIFE LTD. — Director's Dealing 2011

Apr 4, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERBALIFE LTD. (HLF)
CIK: 0001180262
Period of Report: 2011-03-31

Reporting Person: RAHN WILLIAM (SVP / Mg Dir. - Asia Pacific)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-31	Common Stock	M	300	$30.97	Acquired	3168	Direct
2011-03-31	Common Stock	D	183	$81.36	Disposed	2985	Direct
2011-04-01	Common Stock	S	117	$81.54	Disposed	2868	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-31	Stock Appreciation Rights (Right to Buy)	$30.97	M	300	Disposed	2016-08-23	Common Stock (300)	Direct

Footnotes

F1: The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on August 31, 2010.

F2: Consists of stock appreciation rights granted under the Herbalife Ltd. 2005 Stock Incentive Plan that vest in 5% increments commencing on September 30, 2006 and on the last day of the nineteen subsequent calendar quarters until fully vested on June 30, 2011.