RCL director granted 831 shares, 78 withheld for tax

Royal Caribbean Cruises Ltd. director Stephen R. Howe Jr. received a grant of 831 shares of common stock on May 28, 2026, as part of restricted stock units under the company’s 2008 Equity Incentive Plan.

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd. director Stephen R. Howe Jr. received a grant of 831 shares of common stock on May 28, 2026, as part of restricted stock units under the company’s 2008 Equity Incentive Plan. These RSUs are scheduled to vest on the earlier of May 28, 2027, or the company’s 2027 Annual Meeting of Shareholders.

On the same date, 78 shares were withheld by the company at a price of $276.615 per share to cover Howe’s tax liability associated with the vesting of previously granted RSUs. After these transactions, he directly holds 15,050 shares of Royal Caribbean common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Howe Stephen R. Jr.

Role Director

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	78	$276.615	$22K
Grant/Award	Common Stock	831	$0.00	$0.00

Holdings After Transaction: Common Stock — 15,050 shares (Direct)

Footnotes (2)

1. F1. Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain restricted stock units on 05/28/2026.
2. F2. Represents shares of common stock underlying restricted stock units ("RSUs") granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended. The shares underlying the RSUs vest the earlier of (i) May 28, 2027, or (ii) date of the Issuer's 2027 Annual Meeting of Shareholders.

Key Figures

Equity grant: 831 shares Tax withholding shares: 78 shares Withholding price: $276.615 per share +2 more

5 metrics

Equity grant 831 shares RSU-related common stock grant on May 28, 2026

Tax withholding shares 78 shares Shares withheld to cover tax liability on vesting RSUs

Withholding price $276.615 per share Price used for the 78 withheld shares

Post-transaction holdings 14,219 shares Common stock directly held after May 28, 2026 transactions

Tax-withholding shares summary 78 shares Form-level taxWithholdingShares in transactionSummary

Key Terms

restricted stock units ("RSUs"), tax liability, Equity Incentive Plan, vesting, +1 more

5 terms

restricted stock units ("RSUs") financial

"Represents shares of common stock underlying restricted stock units ("RSUs") granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan"

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

tax liability financial

"withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain restricted stock units"

Equity Incentive Plan financial

"RSUs granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended"

An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.

vesting financial

"tax liability associated with the vesting of shares underlying certain restricted stock units on 05/28/2026"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

Annual Meeting of Shareholders financial

"vest the earlier of (i) May 28, 2027, or (ii) date of the Issuer's 2027 Annual Meeting of Shareholders"

A yearly gathering where a company’s owners (shareholders) vote on key items like electing the board, approving executive pay, and ratifying auditors, and receive updates on performance and strategy. Think of it as an annual town hall for owners: it matters to investors because outcomes and disclosures can affect leadership, corporate direction, dividend and governance policies, and therefore the company’s risk and potential return.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did RCL director Stephen R. Howe Jr. receive in this Form 4 filing?

Stephen R. Howe Jr. received a grant of 831 shares of Royal Caribbean common stock on May 28, 2026. The grant comes through restricted stock units under the company’s 2008 Equity Incentive Plan, reflecting routine equity-based director compensation.

When do Stephen Howe Jr.’s new RSUs in RCL vest?

The RSUs underlying the 831-share grant vest on the earlier of May 28, 2027, or the date of Royal Caribbean’s 2027 Annual Meeting of Shareholders. This time-based vesting schedule aligns director incentives with the company’s longer-term performance.

Why were 78 RCL shares withheld from Stephen Howe Jr.?

Royal Caribbean withheld 78 shares of common stock to cover Stephen Howe Jr.’s tax liability tied to the vesting of earlier RSUs. This tax withholding is coded as an F transaction and does not represent an open-market sale of shares.

How many Royal Caribbean (RCL) shares does Stephen Howe Jr. hold after these transactions?

Following the May 28, 2026 transactions, Stephen Howe Jr. directly holds 14,219 shares of Royal Caribbean common stock. This total reflects both the 831-share equity award and the 78 shares withheld for tax obligations on previously vesting RSUs.

Are the RCL transactions in this Form 4 open-market buys or sells?

The filing shows a grant of 831 shares and a tax-withholding disposition of 78 shares. Neither transaction is an open-market buy or sell; they are routine equity compensation and associated tax withholding events for a Royal Caribbean director.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/29/2026 - 04:40 PM Learn about SEC filing dates

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^*

Howe Stephen R. Jr.

(Last) (First) (Middle)

C/O ROYAL CARIBBEAN CRUISES LTD.

1050 CARIBBEAN WAY

(Street)

MIAMI FLORIDA 33132

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
ROYAL CARIBBEAN CRUISES LTD [ RCL ]

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)
05/28/2026

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	05/28/2026		F		78(1)	D	$276.615	14,219	D
Common Stock	05/28/2026		A		831(2)	A	$0	15,050	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. Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain restricted stock units on 05/28/2026.

2. Represents shares of common stock underlying restricted stock units ("RSUs") granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended. The shares underlying the RSUs vest the earlier of (i) May 28, 2027, or (ii) date of the Issuer's 2027 Annual Meeting of Shareholders.

Remarks:

	/s/ Indira Sordo, Attorney-in-Fact for Stephen R. Howe, Jr.	05/29/2026
	** 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)