HERBALIFE LTD. — Director's Dealing 2011

Apr 15, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERBALIFE LTD. (HLF)
CIK: 0001180262
Period of Report: 2011-04-13

Reporting Person: Fleming Ibelis (SVP/Managing Dir North America)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-04-13	Common Stock	M	1000	$43.13	Acquired	6172	Direct
2011-04-13	Common Stock	D	688	$85.30	Disposed	5484	Direct
2011-04-14	Common Stock	S	312	$84.73	Disposed	5172	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-04-13	Stock Appreciation Rights (Right to Buy)	$43.13	M	1000	Disposed	2018-02-28	Common Stock (1000)	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 March 11, 2011.

F2: Consists of stock appreciation rights granted under the Herbalife Ltd. 2005 Stock Incentive Plan, of which 20% vested February 28, 2009, 20% vested February 28, 2010 and the remaining 60% vested February 28, 2011.