Royal Caribbean (NYSE: RCL) EVP Kulovaara logs equity awards and tax-withholding share dispositions

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd. executive Harri U. Kulovaara reported equity award activity and related tax withholding transactions. On 02/10/2026, he acquired 42,912 shares of common stock underlying performance shares at $0 per share and 2,219 shares underlying restricted stock units, also at $0 per share, under the company’s 2008 Equity Incentive Plan.

On the same date, 16,893 shares were withheld by the issuer at $345.405 per share to cover tax liabilities from vesting performance shares. On 02/12/2026, an additional 1,131 shares were withheld at $337.84 per share for taxes on vesting restricted stock units. Following these transactions, he directly owned 59,959 shares of common stock.

Insider Trade Summary

4 transactions reported

Mixed 4 txns

Insider Kulovaara Harri U

Role EVP, Maritime

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	1,131	$337.84	$382K
Grant/Award	Common Stock	42,912	$0.00	--
Tax Withholding	Common Stock	16,893	$345.405	$5.83M
Grant/Award	Common Stock	2,219	$0.00	--

Holdings After Transaction: Common Stock — 59,959 shares (Direct)

Footnotes (1)

1. Represents shares of common stock underlying performance shares granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended. Includes 87 shares acquired under the Issuer's Employee Stock Purchase Plan. 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 performance shares on 02/10/2026. Represents shares of common stock underlying restricted stock units granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended. In accordance with our vesting into retirement policy, award vests in one installment on the first anniversary of the grant date but will be subject to restrictions on transferability through the third anniversary of the grant date. 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 02/12/2026.

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^*

Kulovaara Harri U

(Last) (First) (Middle)

ROYAL CARIBBEAN CRUISES LTD.

1050 CARIBBEAN WAY

(Street)

MIAMI FL 33132

(City) (State) (Zip)

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

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

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

3. Date of Earliest Transaction (Month/Day/Year)
02/10/2026

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

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

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

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	02/10/2026		A		42,912(1)	A	$0	75,764(2)	D
Common Stock	02/10/2026		F		16,893(3)	D	$345.405	58,871	D
Common Stock	02/10/2026		A		2,219(4)	A	$0	61,090	D
Common Stock	02/12/2026		F		1,131(5)	D	$337.84	59,959	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 shares of common stock underlying performance shares granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended.

2. Includes 87 shares acquired under the Issuer's Employee Stock Purchase Plan.

3. 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 performance shares on 02/10/2026.

4. Represents shares of common stock underlying restricted stock units granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended. In accordance with our vesting into retirement policy, award vests in one installment on the first anniversary of the grant date but will be subject to restrictions on transferability through the third anniversary of the grant date.

5. 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 02/12/2026.

Remarks:

	/s/ Indira Sordo, Attorney-in-Fact for Harri U. Kulovaara	02/12/2026
	** 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.

FAQ

What insider transactions did RCL executive Harri Kulovaara report on this Form 4?

Harri U. Kulovaara reported equity grants and related tax withholding transactions. He acquired performance-share and restricted stock unit-based common stock awards, and the issuer withheld shares on two dates to satisfy associated tax liabilities from vesting.

How many Royal Caribbean (RCL) shares did Harri Kulovaara acquire on February 10, 2026?

On February 10, 2026, he acquired 42,912 shares of common stock underlying performance shares and 2,219 shares underlying restricted stock units. Both awards were granted at zero dollar price under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended.

Why were RCL shares withheld from Harri Kulovaara on this Form 4?

Shares were withheld to cover his tax liabilities from vesting equity awards. The issuer withheld 16,893 shares tied to performance shares on February 10, 2026, and 1,131 shares tied to restricted stock units on February 12, 2026, instead of a separate cash payment.

At what prices were Royal Caribbean (RCL) shares withheld for Harri Kulovaara’s tax obligations?

The tax-withholding dispositions used share values of $345.405 and $337.84. Specifically, 16,893 shares were withheld at $345.405 per share on February 10, 2026, and 1,131 shares were withheld at $337.84 per share on February 12, 2026.

How many Royal Caribbean (RCL) shares does Harri Kulovaara own after these transactions?

After the reported equity grants and tax-withholding share dispositions, Harri U. Kulovaara directly owned 59,959 shares of Royal Caribbean Cruises Ltd. common stock. This figure reflects all acquisitions and withholding transactions disclosed in the February 2026 Form 4 filing.

What equity plans are referenced in Harri Kulovaara’s RCL Form 4 filing?

The filing references the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended, and the Employee Stock Purchase Plan. Performance shares, restricted stock units, and previously acquired shares under the purchase plan are all noted within the footnotes explaining the reported holdings.