Wang Henry C 4

What Happened

Henry C. Wang, Chief Legal Officer of Herbalife Ltd. (HLF), was granted 33,301 stock appreciation rights (SARs) on February 25, 2026. The SARs were reported as acquired at $0.00 (a derivative award rather than a cash purchase or sale) under the Herbalife Ltd. Amended and Restated 2023 Stock Incentive Plan.

Key Details

• Transaction date: 2026-02-25; Filing date: 2026-02-27 (timely Form 4 filing).
• Award: 33,301 SARs; reported acquisition price: $0.00 (derivative award).
• Shares owned after transaction: Not specified in the reported transaction details.
• Footnote: F1 — SARs vest in one-third increments on Feb 25 of 2027, 2028 and 2029, subject to continued service.
• Transaction code: A (award/grant); not a purchase (P) or sale (S).

Context

SARs are derivative awards that give the holder the right to receive value equal to the increase in the company’s stock price (typically in shares or cash) upon exercise after vesting. These SARs will not vest immediately — they vest in three annual installments starting Feb 25, 2027 — and therefore do not reflect an immediate purchase or sale of stock. Awards like this are common for executive compensation and do not, by themselves, signal a buy or sell action by the insider.