Royal Caribbean CEO reports open-market stock sales

Royal Caribbean Cruises Ltd. executive Michael W. Bayley, President & CEO of Royal Caribbean International, reported a series of open-market sales of company common stock on February 13, 2026.

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd. executive Michael W. Bayley, President & CEO of Royal Caribbean International, reported a series of open-market sales of company common stock on February 13, 2026. The transactions were executed in multiple blocks at weighted-average prices ranging from about $322 to $332 per share, as detailed in the footnotes.

After these sales, Bayley directly owned 58,108 shares of Royal Caribbean common stock, down from higher levels shown earlier in the table. All reported holdings are direct, with no indirect ownership noted.

Insider Trade Summary

Net Seller: 80,000 shares

Net Sell 11 txns

Insider Bayley Michael W

Role Pres&CEO, Royal Caribbean Intl

Sold 80,000 shs ($26.15M)

Type	Security	Shares	Price	Value
Sale	Common Stock	3,793	$322.66	$1.22M
Sale	Common Stock	3,304	$323.40	$1.07M
Sale	Common Stock	7,849	$324.61	$2.55M
Sale	Common Stock	13,241	$325.55	$4.31M
Sale	Common Stock	13,889	$326.57	$4.54M
Sale	Common Stock	12,759	$327.46	$4.18M
Sale	Common Stock	14,038	$328.47	$4.61M
Sale	Common Stock	8,711	$329.49	$2.87M
Sale	Common Stock	1,296	$330.40	$428K
Sale	Common Stock	800	$331.36	$265K
Sale	Common Stock	320	$332.19	$106K

Holdings After Transaction: Common Stock — 58,108 shares (Direct)

Footnotes (11)

1. F1. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $322.34 to a high of $322.995. The reporting person undertakes to provide upon request of the SEC Staff or a Royal Caribbean Cruises Ltd. security holder full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 1 - 11 to this Form 4.
2. F2. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $323.00 to a high of $323.97.
3. F3. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $324.05 to a high of $324.99.
4. F4. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $325.00 to a high of $325.99.
5. F5. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $326.01 to a high of $326.97.
6. F6. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $327.00 to a high of $327.97.
7. F7. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $328.00 to a high of $328.97.
8. F8. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $329.00 to a high of $329.74.
9. F9. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $330.00 to a high of $330.96.
10. F10. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $331.055 to a high of $331.71.
11. F11. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $332.00 to a high of $332.33.

FAQ

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

What insider transaction did Royal Caribbean (RCL) report on this Form 4?

The filing reports open-market sales of Royal Caribbean common stock by Michael W. Bayley, President & CEO of Royal Caribbean International, on February 13, 2026. Multiple trades were executed in separate blocks, each with its own share amount and weighted-average sale price.

Who is the reporting person in Royal Caribbean (RCL)'s Form 4 filing?

The reporting person is Michael W. Bayley, identified as Pres & CEO, Royal Caribbean International. He is listed as an officer of Royal Caribbean Cruises Ltd., not a director or 10% owner, and all reported holdings in this filing are described as directly owned.

On what date did the Royal Caribbean (RCL) insider stock sales occur?

All reported transactions occurred on February 13, 2026. The table and accompanying footnotes state that each series of sales was executed on that date, with separate weighted-average prices and detailed price ranges for the individual trades making up each reported block.

What price range did Michael Bayley’s Royal Caribbean (RCL) stock sales cover?

The sales were reported at weighted-average prices per block, with underlying trades ranging from lows of about $322.34 to highs of about $332.33. Footnotes 1 through 11 specify the exact low and high sale prices within each reported transaction range.

How many Royal Caribbean (RCL) shares did Michael Bayley own after the reported sales?

Following the last reported transaction, Bayley beneficially owned 58,108 shares of Royal Caribbean common stock. This figure appears in the “Amount of Securities Beneficially Owned Following Reported Transaction(s)” column and is designated as directly owned, with no indirect ownership description provided.

Were any derivative securities reported in this Royal Caribbean (RCL) Form 4?

The Form 4 includes a section for derivative securities, but no derivative transactions are listed in the provided table. All detailed transactions involve non-derivative common stock sales, with no options, warrants, or other derivative instruments shown in the excerpt.

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

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Accepted by SEC EDGAR 02/13/2026 - 07:51 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^*

Bayley Michael W

(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)
	Pres&CEO, Royal Caribbean Intl

3. Date of Earliest Transaction (Month/Day/Year)
02/13/2026

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	02/13/2026		S		3,793	D	$322.66(1)	134,315	D
Common Stock	02/13/2026		S		3,304	D	$323.4(2)	131,011	D
Common Stock	02/13/2026		S		7,849	D	$324.61(3)	123,162	D
Common Stock	02/13/2026		S		13,241	D	$325.55(4)	109,921	D
Common Stock	02/13/2026		S		13,889	D	$326.57(5)	96,032	D
Common Stock	02/13/2026		S		12,759	D	$327.46(6)	83,273	D
Common Stock	02/13/2026		S		14,038	D	$328.47(7)	69,235	D
Common Stock	02/13/2026		S		8,711	D	$329.49(8)	60,524	D
Common Stock	02/13/2026		S		1,296	D	$330.4(9)	59,228	D
Common Stock	02/13/2026		S		800	D	$331.36(10)	58,428	D
Common Stock	02/13/2026		S		320	D	$332.19(11)	58,108	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 weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $322.34 to a high of $322.995. The reporting person undertakes to provide upon request of the SEC Staff or a Royal Caribbean Cruises Ltd. security holder full information regarding the number of shares sold at each separate price within the ranges set forth in footnotes 1 - 11 to this Form 4.

2. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $323.00 to a high of $323.97.

3. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $324.05 to a high of $324.99.

4. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $325.00 to a high of $325.99.

5. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $326.01 to a high of $326.97.

6. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $327.00 to a high of $327.97.

7. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $328.00 to a high of $328.97.

8. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $329.00 to a high of $329.74.

9. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $330.00 to a high of $330.96.

10. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $331.055 to a high of $331.71.

11. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 13, 2026. The actual sale prices ranged from a low of $332.00 to a high of $332.33.

Remarks:

	/s/ Indira Sordo, Attorney-in-Fact for Michael W. Bayley	02/13/2026
	** 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.