Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-09-25

Herbalife (HLF)

CEO Stephan Gratziani was paid $7,384,841 in fiscal year 2025: executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$8,662,643
Michael Johnson total, FY2025
Executive Chairman and Former Chief Executive Officer — highest-paid officer; CEO Stephan Gratziani: $7,384,841
25th
CEO (Stephan Gratziani) pay percentile vs peers
—
CEO-to-median pay ratio
90.83%
Say-on-pay support, latest vote

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Companies that benchmark against HLF
5 companies name HLF as a compensation peer

Each company listed discloses HLF in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named HLF in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Michael Johnson$944,001$0$3,999,994$1,999,996$1,371,756$0$346,896$8,662,643
Executive Chairman and Former Chief Executive Officer
Stephan Gratziani930,38502,799,9961,399,9981,411,6500842,8127,384,841
Chief Executive Officer and Former President
Frank Lamberti630,7690849,990424,996554,820021,7202,482,295
Chief Commercial Officer
Henry Wang636,3460699,993349,997565,020018,5282,269,884
Chief Legal Officer and Corporate Secretary
Robert Levy624,9230576,706288,353572,914030,6622,093,558
President
John DeSimone2,0310000002,031
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Michael Johnson$8,662,643$13,207,519$1,276,565−4,544,876
Stephan Gratziani7,384,8415,661,041—+1,723,800
Frank Lamberti2,482,2953,032,7612,229,642−550,466
Henry Wang2,269,8842,708,4662,271,309−438,582
Robert Levy2,093,558———
John DeSimone2,0317,257,6764,088,018−7,255,645

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Frank LambertiSAR12,54027.38—
Stephan GratzianiPSU8,799—113,419
Frank LambertiSAR31,77928.6—
Michael JohnsonSAR982,8008.07—
Frank LambertiSAR30,23131.26—
Michael JohnsonPSU481,347—6,204,563
Henry WangPSU24,357—313,962
Stephan GratzianiPSU336,943—4,343,195
John DeSimonePSU32,971—424,996
Frank LambertiPSU84,235—1,085,789
Henry WangPSU84,235—1,085,789
Frank LambertiPSU3,983—51,341
Robert LevyPSU69,399—894,553
Stephan GratzianiPSU18,588—239,599
Henry WangPSU8,579—110,583
Henry WangSAR141,7019.58—
Stephan GratzianiPSU40,014—515,780
Frank LambertiPSU24,357—313,962
Frank LambertiPSU16,251—209,475
Robert LevyPSU3,983—51,341
Robert LevyPSU11,309—145,773
Frank LambertiPSU3,359—43,298
Robert LevySAR45,90228.6—
Stephan GratzianiSAR470,80918.61—
Robert LevySAR26,68413.6—
Stephan GratzianiSAR51,62313.26—
Michael JohnsonSAR783,69914.45—
Stephan GratzianiSAR110,5658.07—
Robert LevySAR63,7958.31—
Henry WangSAR77,4338.31—
Stephan GratzianiSAR232,7949.58—
Frank LambertiSAR26,68413.6—
Stephan GratzianiSAR309,7348.31—
Frank LambertiSAR77,4338.31—
Robert LevySAR43,66831.26—
Robert LevySAR65,7909.58—
Henry WangSAR57,47213.6—
John DeSimoneSAR116,56031.26—
John DeSimoneSAR122,52828.6—
John DeSimoneSAR72,28320.17—
John DeSimoneSAR766,3859.33—
Frank LambertiSAR21,47818.61—
Henry WangSAR9,04031.26—
Frank LambertiSAR141,7019.58—
Frank LambertiSAR15,1829.23—
Henry WangSAR12,28828.6—
Michael JohnsonSAR442,4778.31—
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's executive compensation program is grounded in a pay-for-performance philosophy, designed to attract and retain a highly qualified leadership team by linking a significant majority of incentive opportunity to long-term growth in shareholder value and the achievement of key performance objectives.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantMeridian Compensation Partners, LLC
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-04-3070,193,4347,090,527548,26190.83%Passed
20252025-04-2335,330,71633,240,395323,67551.52%Passed
20242024-04-2555,103,9692,345,6359,231,42795.92%Passed
20232023-04-2668,148,4867,695,28937,52689.85%Passed
20222022-04-2769,938,2579,736,19711,902,27287.78%Passed
20212021-04-2886,072,5125,982,6648,962,63393.5%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-04-3090.83%a
20252025-04-2351.52%b
20242024-04-2595.92%c

a. Approved under the standard stated in the filing — “Common Shares that reflect abstentions are treated as Common Shares that are present and entitled to vote for the purposes of establishing a quorum, but will have no effect determining the outcome of any proposal.”.

b. Approved under the standard stated in the filing — “Common Shares that reflect abstentions are treated as Common Shares that are present and entitled to vote for the purposes of establishing a quorum, but will have no effect determining the outcome of any proposal.”.

c. Approved under the standard stated in the filing — “Common Shares that reflect abstentions are treated as Common Shares that are present and entitled to vote for the purposes of establishing a quorum, but will have no effect determining the outcome of any proposal.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Rodica MacadraiNot independent · Sustainability$106,667$159,993——$1,139,317$1,405,977
Juan Miguel MendozaNot independent · Sustainability110,000159,993——751,8291,021,822
Perkins MillerIndependent · Lead Independent Director · Audit (1)137,917184,998——0322,915
Maria OteroIndependent · Compensation (2) (Chair) · Nominating and Corporate Governance · Sustainability145,000159,993——0304,993
Don MulliganIndependent · Audit (1) (Chair) · Compensation (2)140,000159,993——0299,993
Sophie L'HéliasIndependent · Audit · Sustainability (Chair)135,000159,993———294,993
Richard H. CarmonaIndependent · Nominating and Corporate Governance (Chair)125,000159,993——0284,993
Celine Del GenesIndependent · Compensation (2)110,000159,993——0269,993
Michael LevittIndependent100,000159,993——0259,993
Lynda CloudIndependent · Nominating and Corporate Governance · Newly elected73,333159,993——233,326233,326
Alan W. LeFevreIndependent · Not standing for re-election · Departed during FY48,3330——048,333
Michael O. JohnsonEmployee director · Board Chair—————0
Des WalshNot independent · Newly elected——————
09

Board fee structure and ownership guideline

Annual cash retainer$100,000
Annual equity retainer—
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline$5
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$1,231,250
Equity awards (grant-date value)$1,624,935
All other compensation$2,124,472
Total cost of the board$4,980,657

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Herbalife names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Herbalife.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Post Holdings, Inc.2025Robert Vitale$1,281,250$14,811,295$0$0$16,621,445
2International Flavors & Fragrances, Inc.2025J. Erik Fyrwald1,026,25011,656,76402,047,23015,002,866
3Conagra Brands, Inc.2026Sean Connolly1,415,0008,958,37202,827,17013,680,675
4The Clorox Company2025Linda Rendle1,307,6929,754,75301,696,00013,333,032
5Coty Inc.2026Markus Strobel478,3586,720,0013,720,000011,088,860
6The Campbell's Company2025Mark Clouse664,0158,932,7300859,14011,056,404
7The J.M. Smucker Company2026Mark Smucker1,221,1546,274,43802,143,12610,935,216
8McCormick & Company, Incorporated2025Brendan Foley1,139,0848,600,1050720,13010,831,581
9Church & Dwight Co., Inc.2025Richard Dierker986,5801,770,9735,313,1001,472,6569,799,678
10Edgewell Personal Care Company2025Rod Little1,100,0007,576,1000907,5009,754,366
11Spectrum Brands Holdings, Inc.2025David Maura900,0006,750,0040907,2008,757,036
12TreeHouse Foods, Inc.2024Steven Oakland1,102,0007,069,378008,305,103
13Herbalife2025Stephan Gratziani930,3852,799,9961,399,9981,411,6507,384,841
14BellRing Brands, Inc.2025Darcy Horn Davenport950,0254,400,00001,055,7156,563,539
15Nu Skin Enterprises, Inc.2025Ryan Napierski1,008,0824,616,8230219,2505,965,206
16Medifast, Inc.2025Daniel Chard1,000,0004,567,664005,584,551
17The Hain Celestial Group, Inc.2025Wendy Davidson789,8083,530,682004,546,417

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Herbalifenot disclosedPSU 50 · SAR 25 · RCU 25not disclosedMeridian Compensation Partners, LLC
BellRing Brands, Inc.88.9% of target for corporate level NEOs; 92.9% of target for business unit level NEO (Mr. Singh).%PRSUs 80 · RSUs 20Yes — Relative TSRAon
Church & Dwight Co., Inc.125%Options 75 · PSU 15 · RSU 10NoSemler Brossy Consulting Group
Conagra Brands, Inc.not disclosedPSU 60 · RSU 40not disclosedFW Cook
Coty Inc.not disclosednot disclosedNoWillis Towers Watson
Edgewell Personal Care Companynot disclosednot disclosednot disclosedMeridian
International Flavors & Fragrances, Inc.98.9%PSU 60 · RSU 40Yes — Relative TSR vs. S&P 500 - ChemicalsFW Cook
McCormick & Company, Incorporated40.4%PSU 50 · RSU 50Yes — McCormick's TSR relative to the TSR generated by our Peer Group companiesWTW (Willis Towers Watson)
Medifast, Inc.not disclosednot disclosednot disclosednot disclosed
Nu Skin Enterprises, Inc.not disclosedRSU 50 · PRSU 50not disclosedSemler Brossy
Post Holdings, Inc.not disclosednot disclosednot disclosedAon
Spectrum Brands Holdings, Inc.not disclosedPSU 70 · RSU 30not disclosedWTW
The Campbell's Company74%PSU 60 · RSU 40Yes — TSR performanceFW Cook
The Clorox Company80%PSU 60 · RSU 40NoFW Cook
The Hain Celestial Group, Inc.not disclosedRSU 50 · PSU 50Yes — Relative TSR versus the S&P Food & Beverage Select Industry IndexClearBridge Compensation Group, LLC
The J.M. Smucker Company117%PSU 60 · RSU 40NoSemler Brossy
TreeHouse Foods, Inc.not disclosedRSU 50 · PSU 50not disclosedPay Governance LLC

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

FAQ

Frequently asked questions

Who was the highest-paid executive at Herbalife in fiscal 2025?
As disclosed, Michael Johnson, Executive Chairman and Former Chief Executive Officer, was the highest-paid executive at Herbalife in fiscal 2025 with total compensation of $8,662,643.
How does Herbalife's chief executive pay compare to its disclosed peer group?
The filing shows that Stephan Gratziani's pay sits at the 25th percentile of the disclosed peer group.
What is Herbalife's CEO-to-median employee pay ratio?
The CEO-to-median employee pay ratio is not disclosed in this filing.
How did shareholders vote on Herbalife's executive compensation?
Shareholders voted in support of executive compensation at a rate of 90.83% in the latest say-on-pay vote.
How much does Herbalife spend in total on board compensation for fiscal 2025?
The company reported total board compensation of $4,980,657 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Michael JohnsonDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 8,662,643. Filing ↗machine: r1 · c8 · span 1831256–1831265
2Section 01, Stephan GratzianiDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 7,384,841. Filing ↗machine: r8 · c8 · span 1888865–1888874
3Section 01, Frank LambertiDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 2,482,295. Filing ↗machine: r11 · c8 · span 1911352–1911361
4Section 01, Henry WangDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 2,269,884. Filing ↗machine: r14 · c8 · span 1937080–1937089
5Section 01, Robert LevyDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 2,093,558. Filing ↗machine: r18 · c8 · span 1967426–1967435
6Section 01, John DeSimoneDEF 14A2026-03-170001213900-26-029131Section “2025 Summary compensation table” · page 49. As printed: 2,031. Filing ↗machine: r5 · c8 · span 1856684–1856689
7Section 08, Rodica MacadraiDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 1,405,977. Filing ↗machine: span 586648–587027
8Section 08, Juan Miguel MendozaDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 1,021,822. Filing ↗machine: span 591491–591870
9Section 08, Perkins MillerDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 322,915. Filing ↗machine: span 596204–596581
10Section 08, Maria OteroDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 304,993. Filing ↗machine: span 605606–605983
11Section 08, Don MulliganDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 299,993. Filing ↗machine: span 600886–601263
12Section 08, Sophie L'HéliasDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 294,993. Filing ↗machine: span 572402–572779
13Section 08, Richard H. CarmonaDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 284,993. Filing ↗machine: span 558649–559026
14Section 08, Celine Del GenesDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 269,993. Filing ↗machine: span 567627–568004
15Section 08, Michael LevittDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 259,993. Filing ↗machine: span 581862–582239
16Section 08, Lynda CloudDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 233,326. Filing ↗machine: span 562936–563313
17Section 08, Alan W. LeFevreDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 48,333. Filing ↗machine: span 574404–574780
18Section 08, Michael O. JohnsonDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: 0. Filing ↗
19Section 08, Des WalshDEF 14A2026-03-170001213900-26-029131Section “Director Compensation”. As printed: —. Filing ↗
20Section 06, 2026 voteForm 8-K2026-05-060001213900-26-052833Item 5.07 · say-on-pay result. As reported: 90.83% (votes for as printed: 70,193,434). Filing ↗
21Section 06, 2025 voteForm 8-K2025-04-250001213900-25-035657Item 5.07 · say-on-pay result. As reported: 51.52% (votes for as printed: 35,330,716). Filing ↗
22Section 06, 2024 voteForm 8-K2024-05-010001193125-24-127561Item 5.07 · say-on-pay result. As reported: 95.92% (votes for as printed: 55,103,969). Filing ↗
23Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
24Section 09b board cost (computed)Computed——Cash 1,231,250 + equity 1,624,935 + all other 2,124,472 = 4,980,657, summed across the director compensation table rows.machine: formula: Σ = 4,980,657
25Post Holdings, Inc., Section 10b CEO totalDEF 14A2025-12-150001530950-25-000284CEO total compensation as printed in Post Holdings, Inc.'s own proxy. As printed: 16,621,445. Filing ↗machine: r2 · c54 · span 657892–657902
26International Flavors & Fragrances, Inc., Section 10b CEO totalDEF 14A2026-03-180001140361-26-009960CEO total compensation as printed in International Flavors & Fragrances, Inc.'s own proxy. As printed: 15,002,866. Filing ↗machine: t297 · r2 · c25 · span 1428753–1428763
27Conagra Brands, Inc., Section 10b CEO totalDEF 14A2026-08-110000023217-26-000037CEO total compensation as printed in Conagra Brands, Inc.'s own proxy. As printed: 13,680,675. Filing ↗
28The Clorox Company, Section 10b CEO totalDEF 14A2025-10-070001552781-25-000311CEO total compensation as printed in The Clorox Company's own proxy. As printed: 13,333,032. Filing ↗machine: r1 · c9 · span 683061–683071
29Coty Inc., Section 10b CEO totalDEF 14A2026-09-250001024305-26-000065CEO total compensation as printed in Coty Inc.'s own proxy. As printed: 11,088,860. Filing ↗machine: r2 · c51 · span 603240–603250
30The Campbell's Company, Section 10b CEO totalDEF 14A2025-10-080001308179-25-000618CEO total compensation as printed in The Campbell's Company's own proxy. As printed: 11,056,404. Filing ↗machine: span 1065685–1065695
31The J.M. Smucker Company, Section 10b CEO totalDEF 14A2026-06-260001193125-26-283858CEO total compensation as printed in The J.M. Smucker Company's own proxy. As printed: 10,935,216. Filing ↗machine: t332 · r5 · c44 · span 1104985–1104995
32McCormick & Company, Incorporated, Section 10b CEO totalDEF 14A2026-02-180000063754-26-000140CEO total compensation as printed in McCormick & Company, Incorporated's own proxy. As printed: 10,831,581. Filing ↗machine: r2 · c24 · span 970218–970228
33Church & Dwight Co., Inc., Section 10b CEO totalDEF 14A2026-03-190001193125-26-115994CEO total compensation as printed in Church & Dwight Co., Inc.'s own proxy. As printed: 9,799,678. Filing ↗machine: r2 · c38 · span 2534673–2534682
34Edgewell Personal Care Company, Section 10b CEO totalDEF 14A2025-12-220001104659-25-123567CEO total compensation as printed in Edgewell Personal Care Company's own proxy. As printed: 9,754,366. Filing ↗
35Spectrum Brands Holdings, Inc., Section 10b CEO totalDEF 14A2026-06-260000109177-26-000030CEO total compensation as printed in Spectrum Brands Holdings, Inc.'s own proxy. As printed: 8,757,036. Filing ↗machine: r3 · c45 · span 689937–689946
36TreeHouse Foods, Inc., Section 10b CEO totalDEF 14A2025-03-130001320695-25-000030CEO total compensation as printed in TreeHouse Foods, Inc.'s own proxy. As printed: 8,305,103. Filing ↗machine: r4 · c27 · span 993489–993498
37Herbalife (subject), Section 10b CEO totalDEF 14A2026-03-170001213900-26-029131CEO total compensation as printed in Herbalife's own proxy. As printed: 7,384,841. Filing ↗machine: r8 · c8 · span 1888865–1888874
38BellRing Brands, Inc., Section 10b CEO totalDEF 14A2025-12-160001193125-25-320827CEO total compensation as printed in BellRing Brands, Inc.'s own proxy. As printed: 6,563,539. Filing ↗machine: r3 · c35 · span 516110–516119
39Nu Skin Enterprises, Inc., Section 10b CEO totalDEF 14A2026-04-030001140361-26-013152CEO total compensation as printed in Nu Skin Enterprises, Inc.'s own proxy. As printed: 5,965,206. Filing ↗machine: r1 · c8 · span 551069–551078
40Medifast, Inc., Section 10b CEO totalDEF 14A2026-04-060001628280-26-023890CEO total compensation as printed in Medifast, Inc.'s own proxy. As printed: 5,584,551. Filing ↗machine: r2 · c48 · span 1222305–1222314
41The Hain Celestial Group, Inc., Section 10b CEO totalDEF 14A2025-09-180001193125-25-207370CEO total compensation as printed in The Hain Celestial Group, Inc.'s own proxy. As printed: 4,546,417. Filing ↗machine: t83 · r14 · c38 · span 1813238–1813247
42Section 10a, Nu Skin Enterprises, Inc. reciprocityDEF 14A—0001140361-26-013152Nu Skin Enterprises, Inc. names Herbalife in its own disclosed peer group (read from its most recent proxy). Filing ↗
43Section 10a, Coty Inc. reciprocityDEF 14A—0001024305-25-000058Coty Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
44Section 10a, International Flavors & Fragrances, Inc. reciprocityDEF 14A—0001140361-26-009960International Flavors & Fragrances, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
45Section 10a, TreeHouse Foods, Inc. reciprocityDEF 14A—0001320695-25-000030TreeHouse Foods, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
46Section 10a, Spectrum Brands Holdings, Inc. reciprocityDEF 14A—0000109177-26-000030Spectrum Brands Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
47Section 10a, The Hain Celestial Group, Inc. reciprocityDEF 14A—0001193125-25-207370The Hain Celestial Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
48Section 10a, Edgewell Personal Care Company reciprocityDEF 14A—0001104659-25-123567Edgewell Personal Care Company's most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
49Section 10a, The J.M. Smucker Company reciprocityDEF 14A—0001193125-26-283858The J.M. Smucker Company's most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
50Section 10a, McCormick & Company, Incorporated reciprocityDEF 14A—0000063754-26-000140McCormick & Company, Incorporated's most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
51Section 10a, Post Holdings, Inc. reciprocityDEF 14A—0001530950-25-000284Post Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
52Section 10a, The Campbell's Company reciprocityDEF 14A—0001308179-25-000618The Campbell's Company's most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗
53Section 10a, Medifast, Inc. reciprocityDEF 14A—0001628280-26-023890Medifast, Inc. names Herbalife in its own disclosed peer group (read from its most recent proxy). Filing ↗
54Section 10a, Conagra Brands, Inc. reciprocityDEF 14A—0000023217-26-000037Conagra Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Herbalife. Filing ↗

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