HERBALIFE LTD. — Director's Dealing 2017

Dec 7, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: HERBALIFE LTD. (HLF)
CIK: 0001180262
Period of Report: 2017-12-05

Reporting Person: Walsh Des (President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-12-05	Common Stock	M	30000	$21.565	Acquired	165738	Direct
2017-12-05	Common Stock	D	9516	$67.99	Disposed	156222	Direct
2017-12-05	Common Stock	F	10689	$67.99	Disposed	145533	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-12-05	Stock Appreciation Right	$21.565	M	30000	Disposed	2018-02-28	Common Stock (30000)	Direct

Footnotes

F1: The reporting person received 9,795 shares of common stock upon the net exercise of the 30,000 stock appreciation rights ("SARS"). The reporting person forfeited 9,516 shares of common stock underlying the SARS in payment of the exercise price and 10,689 shares of common stock underlying the SARS to satisfy the withholding tax obligation resulting from the exercise, using the closing stock price on December 5, 2017 of $67.99.