Director Pagliuca (NCLH) granted 8,912 restricted share units in stock award

Rhea-AI Filing Summary

PAGLIUCA STEPHEN G reported acquisition or exercise transactions in this Form 4 filing.

Norwegian Cruise Line Holdings Ltd. director Stephen G. Pagliuca received an equity grant of 8,912 shares of common stock. The shares were awarded as restricted share units valued at $0.00 per share, reflecting a compensation grant rather than an open-market purchase.

Each restricted share unit represents the right to receive one NCLH common share upon vesting. The entire grant is scheduled to vest in a single installment on January 4, 2027, aligning Pagliuca’s compensation with the company’s longer-term performance. Following this award, he holds 8,912 shares directly as reported in this filing.

Insights

Equity Compensation Analyst

Director received a routine stock-based compensation grant, not a market trade.

The filing shows director Stephen G. Pagliuca was granted 8,912 restricted share units of Norwegian Cruise Line Holdings Ltd. common stock at a stated price of $0.00 per share. This indicates a compensation award, not an open-market purchase.

The award vests in a single tranche on January 4, 2027, creating a multi-year retention and alignment incentive. There are no derivative exercises or sales reported, and no remaining derivatives listed, so this is a straightforward equity grant with a long-dated vesting schedule.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider PAGLIUCA STEPHEN G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8,912	$0.00	--

Holdings After Transaction: Common Stock — 8,912 shares (Direct)

Footnotes (1)

1. Each restricted share unit represents the contingent right to receive one share of Norwegian Cruise Line Holdings Ltd.'s ("NCLH") common stock upon vesting. Represents a grant of restricted share units under NCLH's Amended and Restated 2013 Performance Incentive Plan. The restricted share units will vest in one installment on January 4, 2027.

Key Figures

Restricted share units granted: 8,912 shares Grant price per share: $0.00 per share Shares held after transaction: 8,912 shares +1 more

4 metrics

Restricted share units granted 8,912 shares Grant of NCLH common stock RSUs on April 13, 2026

Grant price per share $0.00 per share Stated transaction price for RSU award

Shares held after transaction 8,912 shares Total direct holdings reported post-grant

Vesting date January 4, 2027 Single-installment vesting for RSU grant

Key Terms

restricted share unit, Amended and Restated 2013 Performance Incentive Plan, beneficially owning, transaction code "A"

4 terms

restricted share unit financial

"Each restricted share unit represents the contingent right to receive one share of Norwegian Cruise Line Holdings Ltd.'s common stock upon vesting."

A restricted share unit (RSU) is a promise by a company to give an employee a set number of company shares at a future date, typically after meeting time or performance conditions. For investors, RSUs matter because when they convert into actual shares they increase the number of shares outstanding (like unlocking more tickets in a game), which can dilute existing holders, and they align employee incentives with company performance, influencing behavior and long-term value.

Amended and Restated 2013 Performance Incentive Plan financial

"Represents a grant of restricted share units under NCLH's Amended and Restated 2013 Performance Incentive Plan."

An amended and restated 2013 performance incentive plan is a company compensation program that was originally created in 2013 and has since been updated and rewritten to replace the older version. It sets out how employees and executives can earn pay tied to meeting specific performance targets (like sales, profit, or stock goals); investors care because it affects how future pay is awarded, potential share dilution, and whether management’s incentives align with shareholder interests—think of it as a revised game rulebook for rewarding results.

beneficially owning financial

"Following this award, he holds 8,912 shares directly as reported in this filing."

transaction code "A" regulatory

"The Form 4 uses transaction code “A,” indicating a grant of restricted share units as compensation."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

PAGLIUCA STEPHEN G

(Last) (First) (Middle)

7665 CORPORATE CENTER DRIVE

(Street)

MIAMI FLORIDA 33126

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Norwegian Cruise Line Holdings Ltd. [ NCLH ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/13/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock(1)	04/13/2026		A		8,912(2)	A	$0	8,912	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Each restricted share unit represents the contingent right to receive one share of Norwegian Cruise Line Holdings Ltd.'s ("NCLH") common stock upon vesting.

2. Represents a grant of restricted share units under NCLH's Amended and Restated 2013 Performance Incentive Plan. The restricted share units will vest in one installment on January 4, 2027.

	/s/ Daniel S. Farkas, as attorney-in-fact for Stephen G. Pagliuca	04/14/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Stephen G. Pagliuca report in this Form 4 for NCLH?

Stephen G. Pagliuca reported receiving a grant of 8,912 restricted share units of Norwegian Cruise Line Holdings Ltd. common stock. This is an equity compensation award, not an open-market stock purchase or sale, and is reported as a non-derivative acquisition.

How many NCLH shares were granted to Stephen G. Pagliuca and at what price?

He was granted 8,912 shares of Norwegian Cruise Line Holdings Ltd. common stock in the form of restricted share units. The transaction price is listed as $0.00 per share, reflecting a compensatory grant rather than a cash purchase in the market.

What type of security did Stephen G. Pagliuca receive from Norwegian Cruise Line Holdings Ltd.?

He received restricted share units, each representing the right to one share of Norwegian Cruise Line Holdings Ltd. common stock upon vesting. These units are granted under the company’s Amended and Restated 2013 Performance Incentive Plan as part of his director compensation.

When will Stephen G. Pagliuca’s NCLH restricted share units vest?

The restricted share units granted to Stephen G. Pagliuca are scheduled to vest in one installment on January 4, 2027. Vesting means he will then receive the underlying Norwegian Cruise Line Holdings Ltd. common shares, subject to the plan’s terms and any service conditions.

How many NCLH shares does Stephen G. Pagliuca hold after this transaction?

After this grant, Stephen G. Pagliuca is reported as beneficially owning 8,912 shares of Norwegian Cruise Line Holdings Ltd. common stock directly. This total reflects the newly awarded restricted share units reported in the Form 4 filing for this transaction date.

Was this NCLH transaction a buy or sell of shares by Stephen G. Pagliuca?

The transaction is classified as an acquisition via grant or award, not a buy or sell in the open market. The Form 4 uses transaction code “A,” indicating a grant of restricted share units as compensation, with no corresponding sale reported in this filing.