Major USANA (USNA) holder Wentz updates 40.1% ownership via Gull Global

Rhea-AI Filing Summary

Gull Global Limited and Dr. Myron W. Wentz report beneficial ownership of 7,408,345 shares of USANA Health Sciences common stock, representing 40.1% of the outstanding shares, based on 18,456,935 shares outstanding as of March 13, 2026. The shares are held directly by Gull Global, with Dr. Wentz deemed a beneficial owner through a Bahamas-based trust structure he controls.

The filing describes a long history of transactions, including a terminated 2008 tender offer, open-market sales, option and stock-settled stock appreciation right exercises, and charitable gifts of shares. Since the 2008 offer termination, the reporting persons have held the position for investment purposes while periodically selling shares for liquidity and making donations, and report no transactions in the 60 days before this amendment.

Key Figures

Beneficial ownership: 7,408,345 shares Ownership percentage: 40.1% Shares outstanding: 18,456,935 shares +5 more

8 metrics

Beneficial ownership 7,408,345 shares Shares beneficially owned by Gull Global and deemed owned by Dr. Wentz

Ownership percentage 40.1% Portion of USANA outstanding common stock represented by 7,408,345 shares

Shares outstanding 18,456,935 shares USANA shares outstanding as of March 13, 2026 from Form 10-K

Gull Holdings historical sales 1,263,285 shares; $53,472,263.81 Aggregate shares sold and gross proceeds from July 16, 2008 to November 13, 2013

Gull Global historical sales 4,083,419 shares; $367,184,913.48 Aggregate shares sold and gross proceeds from April 9, 2014 to June 24, 2024

Charitable donations and gifts 1,313,171 shares Aggregate USANA shares donated or gifted from May 7, 2009 to September 3, 2025

Stock-settled stock appreciation rights 500,000 SSARs; $26.06 per share Equity incentive grant to Dr. Wentz on July 21, 2008 with stated exercise price

Option exercise 280,000 options; $39.18 per share Options granted in 2005 and exercised December 4–9, 2014 via cashless transactions

Key Terms

Schedule 13D, tender offer, stock-settled stock appreciation rights, cashless exercises, +2 more

6 terms

Schedule 13D regulatory

"If the filing person has previously filed a statement on Schedule 13G to report the acquisition"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

tender offer financial

"announced their intention to commence a tender offer (the "Offer") to purchase all of the outstanding Shares"

A tender offer is a proposal made by a person or company to buy shares from existing shareholders at a set price, usually higher than the current market value, within a specific time frame. It matters to investors because it can lead to a change in ownership or control of a company, and shareholders must decide whether to sell their shares at the offered price.

stock-settled stock appreciation rights financial

"equity incentive compensation in the form of stock-settled stock appreciation rights relating to 500,000 Shares (the "SSARs")"

cashless exercises financial

"Shares sold in cashless exercises, or following receipt upon exercise, of equity compensation Options"

A cashless exercise is a way for someone holding stock options to convert them into shares without paying cash up front: a broker or the company sells enough of the newly issued shares immediately to cover the option price and any taxes, and the option holder receives the remaining shares. Investors care because cashless exercises reduce the number of new shares entering the market compared with a full cash purchase, but they still cause some dilution to existing shareholders and affect reported share counts and per-share metrics.

Rule 10b5-1 trading plans regulatory

"Some of such sales have been made pursuant to Rule 10b5-1 trading plans."

Rule 10b5-1 trading plans are written, pre-arranged instructions that allow company insiders (such as executives or directors) to automatically buy or sell their company's stock at specified times or under set conditions, like a standing instruction or automated thermostat for trades. They matter to investors because these plans provide a legal defense against insider‑trading accusations and create predictable insider trading patterns that can help signal whether sales are routine portfolio management or potentially meaningful to the company’s outlook.

beneficial owner financial

"Dr. Wentz is deemed to be the beneficial owner of the 7,408,345 Shares held directly by Gull Global"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 11)

USANA Health Sciences, Inc.

(Name of Issuer)

COMMON STOCK, $0.001 par value per share

(Title of Class of Securities)

90328M107

(CUSIP Number)

Dr. Myron W. Wentz
c/o Sterling Financial Group, 4525 South Wasatch Blvd, Suite 250
Salt Lake City, UT, 84124
(212) 696-6943

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

03/26/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 90328M107

1

Name of reporting person

Gull Global Limited

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

BAHAMAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,408,345.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,408,345.00

11

Aggregate amount beneficially owned by each reporting person

7,408,345.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

40.1 %

14

Type of Reporting Person (See Instructions)

OO

SCHEDULE 13D

CUSIP Number(s): 90328M107

1

Name of reporting person

Myron W. Wentz

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

OO

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

SAINT KITTS AND NEVIS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 7,408,345.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 7,408,345.00

11

Aggregate amount beneficially owned by each reporting person

7,408,345.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

40.1 %

14

Type of Reporting Person (See Instructions)

IN

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK, $0.001 par value per share
(b)	Name of Issuer: USANA Health Sciences, Inc.
(c)	Address of Issuer's Principal Executive Offices: 3838 West Parkway Boulevard, Salt Lake City, UTAH , 84120.
Item 1 Comment: Explanatory Note: This Amendment No. 11 ("Amendment No. 11") amends and restates the Schedule 13D originally filed with the Securities and Exchange Commission (the "Commission") on May 23, 2008 (the "Original Schedule 13D" and as amended from time to time, including by this Amendment No. 11, "Schedule 13D") by Myron W. Wentz ("Dr. Wentz") and Gull Holdings, Ltd., an Isle of Man company indirectly owned and controlled by Dr. Wentz ("Gull Holdings"), together with certain other reporting persons named therein (Dr. Wentz, Gull Holdings and such other reporting persons, collectively, the "Original Reporting Persons"), and amended and restated by Amendment No. 1 thereto filed on May 22, 2018, and further amended by Amendment No. 2 thereto filed on June 1, 2018, Amendment No. 3 thereto filed on August 7, 2018, Amendment No. 4 thereto filed on October 2, 2018, Amendment No. 5 thereto filed on February 11, 2020, Amendment No. 6 thereto filed on May 8, 2020, Amendment No. 7 thereto filed on August 24, 2020, Amendment No. 8 thereto filed on March 11, 2021, Amendment No. 9 thereto filed on August 13, 2021, and Amendment No. 10 thereto filed on November 22,2021, each jointly filed by Dr. Wentz and Gull Global Limited ("Gull Global" and together with Dr. Wentz and as applicable, Gull Holdings, the "Reporting Persons"), relating to the common stock, par value $0.001 per share (the "Shares"), of USANA Health Sciences, Inc., a Utah corporation (the "Issuer"). This Amendment No. 11 reflects changes to items 2, 4, 5 and 7 of the Schedule 13D.
Item 2.	Identity and Background
(a)	This Statement is being filed by the following reporting persons (the "Reporting Persons"): (i) Gull Global Limited, a company formed under the laws of the Commonwealth of The Bahamas that serves as an investment vehicle for Dr. Wentz ("Gull Global"); and (ii) Dr. Myron W. Wentz, a dual citizen of St. Kitts and Nevis and Malta. Gull Global is 50% owned by each of Viron Company Limited ("Viron"), and Myogen Limited ("Myogen"), each of which is a company formed under the laws of the Commonwealth of The Bahamas, and which serve as holding companies for Gull Global. Each of Viron and Myogen is wholly owned by the Gull Trust, a revocable trust governed under the laws of the Commonwealth of The Bahamas that is administered for the benefit of Dr. Wentz and other beneficiaries, and the direct and indirect assets of which, including Viron, Myogen and Gull Global (and its assets), are controlled by Dr. Wentz. The Trustee of the Gull Trust is JTC Private Trust (Bahamas) Limited (the "Trustee"), which is a company organized under the laws of the Commonwealth of The Bahamas. The director of each of Viron, Myogen and Gull Global are Astaire Associates Limited and Antares Associates Limited (the "Corporate Directors"), each a company organized under the laws of the Commonwealth of The Bahamas. The names of the executive officers and directors of each of the Trustee and the Corporate Directors are provided in Item 2(c) below.
(b)	Unless otherwise specified in Item 2(c), the principal office for Gull Global and for each other person identified in Item 2(a) (including the executive officers and directors of the Trustee and the Corporate Directors) other than Dr. Wentz is located at Caves Corporate Center, Building No. 2, West Bay Street, Nassau, Bahamas. The business address of Dr. Wentz is 3838 West Parkway Boulevard, Salt Lake City, Utah 84120.
(c)	Set forth below are: (i) the names of the executive officers and directors of the Trustee and the Corporate Directors, (ii) their present position with the respective entity, (iii) their business addresses (if different from the address in Item 2(b), (iv) their present principal occupation or employment, (v) the name of any corporation or other organization in which such employment is conducted (and the principal business and address thereof), and (vi) their citizenship or, in the case of an entity, the jurisdiction of formation of each Reporting Person is set forth below: Directors and Executive Officers of JTC Private Trust (Bahamas) Limited (i) Name: Michael John Bruce Halsey (ii) Relevant Position with Trustee: Director (iii) Business Address: 60 Nexus Way, 6th Floor Camana Bay, P.O. Box 30745, Grand Cayman KY1-1201, Cayman Islands (iv) Principal occupation: Trust Company Official (v) Company for Principal Occupation: a. Name: JTC Private Trust (Bahamas) Limited b. Principal Business: Corporate trust services c. Address: See Item 2(b) (vi) Citizenship: British (i) Name: Christopher Deryck Sims (ii) Relevant Position with Trustee: Director (iii) Business Address: See Item 2(b) (iv) Principal Occupation: Trust Company Official (v) Company for Principal Occupation: a. Name: JTC Private Trust (Bahamas) Limited b. Principal Business: Corporate trust services c. Address: See Item 2(b) (vi) Citizenship: Bahamian (i) Name: Naro Zimmerman (ii) Relevant Position with Trustee: Director (iii) Business Address: See Item 2(b) (iv) Principal Occupation: Trust Company Official (v) Company for Principal Occupation: a. Name: JTC Private Trust (Bahamas) Limited b. Principal Business: Corporate trust services c. Address: See Item 2(b) (vi) Citizenship: British (i) Name: Renee Moore (ii) Relevant Position with Trustee: Director, President (iii) Business Address: See Item 2(b) (iv) Principal Occupation: Trust Company Official (v) Company for Principal Occupation: a. Name: JTC Private Trust (Bahamas) Limited b. Principal Business: Corporate trust services c. Address: See Item 2(b) (vi) Citizenship: Bahamian (i) Name: Anthony Kikivarakis (ii) Relevant Position with Trustee: Director (iii) Residence Address: Ocean View Drive 44, Nassau, Bahamas (iv) Principal Occupation: Accountant (v) Company for Principal Occupation: a. Name: JTC Private Trust (Bahamas) Limited b. Principal Business: Corporate trust services c. Address: See Item 2(b) (vi) Citizenship: Bahamian Directors and Executive Officers of Astaire Associates Limited and Antares Associates Limited (i) Name: Michael John Bruce Halsey (ii) Relevant Position with Corporate Directors: Director (iii) Business Address: 60 Nexus Way, 6th Floor Camana Bay, P.O. Box 30745, Grand Cayman KY1-1201, Cayman Islands (iv) Principal occupation: Director (v) Company for Principal Occupation: a. Name: JTC Directors (Bahamas) Limited b. Principal Business: Corporate services c. Address: See Item 2(b). (vi) Citizenship: British (i) Name: Naro Zimmerman (ii) Relevant Position with Corporate Directors: Director (iii) Business Address: See Item 2(b) (iv) Principal occupation: Director (v) Company for Principal Occupation: a. Name: JTC Directors (Bahamas) Limited b. Principal Business: Corporate services c. Address: See Item 2(b). (vi) Citizenship: British
(d)	None of the Reporting Persons nor, to the best of their knowledge, any of the other persons listed in Items 2(a) and 2(c) has during the last five years, been convicted in a criminal proceeding (excluding traffic violations or similar misdemeanors).
(e)	None of the Reporting Persons nor, to the best of their knowledge, any of the other persons listed on Items 2(a) or 2(c) hereto has during the last five years, been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding was or is subject to a judgment, decree or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities laws or finding any violation with respect to such laws.
(f)	See Items 2(a) and 2(c) above.
Item 3.	Source and Amount of Funds or Other Consideration
	The information set forth in Item 4 of this Schedule 13D is incorporated herein by reference.
Item 4.	Purpose of Transaction
	On May 13, 2008, Dr. Wentz, Gull Holdings, Ltd., an Isle of Man company indirectly owned and controlled by Dr. Wentz ("Gull Holdings"), together with certain other persons (Dr. Wentz, Gull Holdings and such other persons, collectively, the "Original Reporting Persons") announced their intention to commence a tender offer (the "Offer") to purchase all of the outstanding Shares of the Issuer not owned by the Original Reporting Persons for $26.00 per share in cash through Unity Acquisition Corp., a newly formed acquisition vehicle ("Unity Acquisition"). On July 16, 2008, Gull Holdings and Unity Acquisition issued a press release announcing the termination of the Offer and disclosing that no Shares were accepted for payment by the Purchaser in connection with the Offer. As a result of the termination of the Offer on July 16, 2008, the Original Reporting Persons ceased to be a group (as disclosed in Item 11 of Amendment No. 8 to the Schedule TO filed by the Original Reporting Persons with the Commission on July 16, 2008 in connection with the Offer) and the Original Reporting Persons other than Dr. Wentz and Gull Holdings ceased to be reporting persons for purposes of this Schedule 13D. From July 16, 2008 through November 13, 2013, Gull Holdings sold an aggregate of 1,263,285 Shares (not including Shares sold in cashless exercises, or following receipt upon exercise, of equity compensation Options (as defined below) and SSARs (as defined below) in open market transactions for aggregate gross proceeds of approximately $53,472,263.81. On July 21, 2008, the Issuer granted to Dr. Wentz equity incentive compensation in the form of stock-settled stock appreciation rights relating to 500,000 Shares (the "SSARs"), with an exercise price of $26.06 per Share. At various times between September 14, 2012 and March 4, 2014, Dr. Wentz exercised the SSARs, which had an aggregate market value of $25,298,771.50 at the time of exercise, and received an aggregate of 233,342 Shares (which were sold in open market transactions in connection with settlement of such exercises). Between November 2013 and April 2015, Dr. Wentz changed the form of his indirect ownership of the Shares deemed beneficially owned by him by causing Gull Holdings to transfer all of the Shares held by it to Gull Global (the "Gull Reorganization"). To effect the Gull Reorganization, (i) on or about November 29, 2013 Gull Global, which at the time was indirectly wholly owned by the Gull Trust and controlled by Dr. Wentz, acquired 131,788 Shares as a contribution from Gull Holdings, and Gull Global thereby became a reporting person for purposes of this Schedule 13D (Gull Global in such capacity, and together with Dr. Wentz and, as applicable, Gull Holdings, the "Reporting Persons"), (ii) on or about February 20, 2014, Gull Global acquired 100% of the share capital of Gull Holdings, and thereby acquired indirect beneficial ownership of the remaining Shares owned directly by Gull Holdings, and (iii) on or about April 1, 2015, Gull Holdings transferred to Gull Global 6,443,322 Shares and Gull Holdings ceased to be a reporting person for purposes of this Schedule 13D. From time to time between April 9, 2014 through June 24, 2024, Gull Global sold an aggregate of 4,083,419 Shares (not including Shares sold in cashless exercises, or following receipt upon exercise, of equity compensation Options and SSARs) in open market transactions for aggregate gross proceeds of approximately $367,184,913.48. Between December 4, 2014 and December 9, 2014 Dr. Wentz exercised, in cashless exercise transactions, options for 280,000 Shares, which he had been granted as equity compensation in 2005, which had an aggregate market value of $28,876,643.71 at the time of exercise and resulted in aggregate net cash proceeds of $12,534,370.59 to Dr. Wentz. The options had an exercise price of $39.18 per share. From time to time between May 7, 2009 and September 3, 2025 the Reporting Persons also made charitable donations and other gifts of an aggregate of 1,313,171 Shares. Since the termination of the Offer in 2008, the Reporting Persons have held (and, until Gull Holdings ceased to be a reporting person for purposes of this Schedule 13D, Gull Holdings held), and the Reporting Persons intend to continue to hold, their Shares for investment purposes. However, the Reporting Persons have sold and will continue to sell, some of their Shares through sales in the open market, in privately negotiated transactions or otherwise, on such terms and at such times as the Reporting Persons may deem advisable, for liquidity purposes. Some of such sales have been made pursuant to Rule 10b5-1 trading plans. The Reporting Persons also expect to continue to make charitable donations of Common Stock. In addition, the Reporting Persons may formulate plans or proposals for, hold discussions with the Issuer's management, the Issuer's Board of Directors, the Issuer's stockholders and other parties about, and reserve the right to explore, or make plans or proposals relating to, transactions, discussions or actions which relate to or would result in any of the matters specified in clauses (a) through (j) of Item 4 of Schedule 13D. The Reporting Persons' consideration or discussion of any action would be based on their own assessment of various relevant considerations and any subsequent developments affecting the Issuer and its prospects.
Item 5.	Interest in Securities of the Issuer
(a)	Gull Global is the direct beneficial owner of 7,408,345 Shares, representing approximately 40.1% of the outstanding Shares, based on 18,456,935 Shares outstanding as of March 13, 2026 as reported by the Issuer in its Annual Report on Form 10-K filed with the Commission on March 16, 2026. Dr. Wentz is deemed to be the beneficial owner of the 7,408,345 Shares held directly by Gull Global, representing approximately 40.1% of the outstanding Shares,. To the best of the Reporting Persons' knowledge, none of the other persons identified in Item 2 beneficially owns any Shares of the Issuer.
(b)	The Reporting Persons share the power to vote or direct the vote of the Shares beneficially owned by them, and the power to dispose of or direct the disposition of such Shares.
(c)	Neither the Reporting Persons nor, to the best of the Reporting Persons' knowledge, any person named in Item 2 of the Schedule 13D, has effected any transactions in Shares during the 60-day period prior to the date of this Amendment No. 11.
(d)	Not applicable
(e)	Not applicable
Item 6.	Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer
	Except as otherwise set forth in this Schedule 13D, none of the Reporting Persons has any contract, arrangement, understanding or relationship (legal or otherwise) with any person with respect to any securities of the Issuer, including but not limited to, any contract, arrangement, understanding or relationship concerning the transfer or voting of any securities of the Issuer, finder's fees, joint ventures, loan or option arrangements, puts or calls, guaranties of profits, division of profits or loss or the giving or withholding of proxies.
Item 7.	Material to be Filed as Exhibits.
	1. Joint Filing Agreement dated March 30, 2026

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Gull Global Limited

Signature:	/s/ Valarie A. Hing
Name/Title:	Valarie A. Hing/Attorney in Fact
Date:	03/30/2026

Myron W. Wentz

Signature:	/s/ Valarie A. Hing
Name/Title:	Valarie A. Hing/Attorney in Fact
Date:	03/30/2026

FAQ

How many USANA (USNA) shares do Gull Global and Dr. Wentz beneficially own?

They beneficially own 7,408,345 USANA common shares through Gull Global. This stake is attributed directly to Gull Global and indirectly to Dr. Myron W. Wentz via a Bahamas trust structure that controls Gull Global and related holding entities.

What percentage of USANA (USNA) does Gull Global’s 7,408,345 shares represent?

Their 7,408,345 shares represent approximately 40.1% of USANA’s outstanding common stock. This percentage is calculated using 18,456,935 shares outstanding as of March 13, 2026, as reported by USANA in its Annual Report on Form 10-K.

Have Gull Global and Dr. Wentz recently traded USANA (USNA) shares before this Schedule 13D/A?

The reporting persons state that neither they nor the named related parties effected any transactions in USANA shares during the 60-day period before this Amendment No. 11. This clarifies there were no recent trades immediately preceding this ownership update.

What historical USANA (USNA) share sales are disclosed for Gull entities and Dr. Wentz?

The filing notes Gull Holdings sold 1,263,285 shares between July 2008 and November 2013 for about $53.47 million, and Gull Global sold 4,083,419 shares between April 2014 and June 2024 for about $367.18 million in aggregate gross proceeds through open-market transactions.

How have options and stock appreciation rights affected Dr. Wentz’s USANA (USNA) holdings?

Dr. Wentz received 500,000 stock-settled stock appreciation rights in 2008 and options for 280,000 shares granted in 2005. He exercised these over time, including cashless exercises, receiving shares that were then sold, generating significant market value and net cash proceeds.

Have Gull Global and Dr. Wentz made charitable gifts of USANA (USNA) stock?

Yes. Between May 7, 2009 and September 3, 2025, the reporting persons made charitable donations and other gifts totaling 1,313,171 USANA shares. These transfers reduced their holdings while directing a substantial number of shares to charitable or gift recipients.