Entities tied to Royal Caribbean (RCL) director sell 280,000 shares

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd director-linked entities reported selling 280,000 shares of common stock in open-market transactions. The sales were made on February 13 and 17, 2026 at weighted-average prices disclosed in ranges from about $319.01 to $332.3251 on February 13 and from $321.10 to $330.50 on February 17.

After these indirect sales, entities associated with Arne Alexander Wilhelmsen held a total of 17,887,507 Royal Caribbean shares, while he also directly held 7,689 shares. According to the disclosure, 13,852,248 shares are owned by AWILHELMSEN AS and 4,035,259 shares by AWILHELMSEN ASSET MANAGEMENT AS, and the reporting person disclaims beneficial ownership except for his pecuniary interest.

Insights

Equity ownership and governance analyst

Large shareholder entities tied to a Royal Caribbean director executed a sizable but structured secondary sale.

Entities associated with director Arne Alexander Wilhelmsen sold a combined 280,000 shares of Royal Caribbean Cruises Ltd common stock through multiple open-market transactions on February 13 and 17, 2026. Prices were grouped into narrow ranges around the low $320s to low $330s, reflecting programmatic execution rather than a single block trade.

Post-transaction, the filing reports 17,887,507 shares indirectly held by these entities and 7,689 shares held directly. A footnote clarifies that 13,852,248 shares are owned by AWILHELMSEN AS and 4,035,259 by AWILHELMSEN ASSET MANAGEMENT AS, with the director disclaiming beneficial ownership beyond his pecuniary interest. This points to an adjustment by a longstanding shareholder group rather than a change in the company’s capital structure.

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^*

Wilhelmsen Arne Alexander

(Last) (First) (Middle)

C/O 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)

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

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								7,689	D
Common Stock	02/13/2026		S		11,783	D	$319.28(1)	18,155,724	I	See Footnote
Common Stock	02/13/2026		S		3,687	D	$320.41(2)	18,152,037	I	See Footnote
Common Stock	02/13/2026		S		2,139	D	$321.22(3)	18,149,898	I	See Footnote
Common Stock	02/13/2026		S		2,140	D	$323.17(4)	18,147,758	I	See Footnote
Common Stock	02/13/2026		S		13,694	D	$325.46(5)	18,134,064	I	See Footnote
Common Stock	02/13/2026		S		7,308	D	$326.52(6)	18,126,756	I	See Footnote
Common Stock	02/13/2026		S		7,080	D	$327.53(7)	18,119,676	I	See Footnote
Common Stock	02/13/2026		S		26,347	D	$328.59(8)	18,093,329	I	See Footnote
Common Stock	02/13/2026		S		13,691	D	$329.24(9)	18,079,638	I	See Footnote
Common Stock	02/13/2026		S		10,203	D	$330.18(10)	18,069,435	I	See Footnote
Common Stock	02/13/2026		S		1,608	D	$331.72(11)	18,067,827	I	See Footnote
Common Stock	02/13/2026		S		320	D	$332.03(12)	18,067,507	I	See Footnote
Common Stock	02/17/2026		S		6,196	D	$321.68(13)	18,061,311	I	See Footnote
Common Stock	02/17/2026		S		24,181	D	$322.71(14)	18,037,130	I	See Footnote
Common Stock	02/17/2026		S		41,342	D	$323.59(15)	17,995,788	I	See Footnote
Common Stock	02/17/2026		S		22,341	D	$324.71(16)	17,973,447	I	See Footnote
Common Stock	02/17/2026		S		35,272	D	$325.51(17)	17,938,175	I	See Footnote
Common Stock	02/17/2026		S		23,567	D	$326.61(18)	17,914,608	I	See Footnote
Common Stock	02/17/2026		S		8,704	D	$327.47(19)	17,905,904	I	See Footnote
Common Stock	02/17/2026		S		7,292	D	$328.65(20)	17,898,612	I	See Footnote
Common Stock	02/17/2026		S		10,496	D	$329.66(21)	17,888,116	I	See Footnote
Common Stock	02/17/2026		S		609	D	$330.28(22)	17,887,507	I	See Footnote(23)

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 $319.01 to a high of $319.99. 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 - 22 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 $320.02 to a high of $320.9842.

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 $321.0282 to a high of $321.6845.

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 $323.00 to a high of $323.49.

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 $325.00 to a high of $325.99.

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 $326.00 to a high of $326.999.

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 $327.00 to a high of $327.97.

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 $328.00 to a high of $328.9975.

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 $329.00 to a high of $329.9997.

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 $330.00 to a high of $330.675.

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 $331.00 to a high of $331.9009.

12. 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 $332.3251.

13. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $321.10 to a high of $322.09.

14. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $322.10 to a high of $323.0988.

15. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $323.10 to a high of $324.09.

16. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $324.10 to a high of $325.09.

17. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $325.10 to a high of $326.0729.

18. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $326.10 to a high of $327.09.

19. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $327.10 to a high of $328.085.

20. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $328.105 to a high of $329.10.

21. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $329.11 to a high of $330.09.

22. Represents the weighted-average sale price per share of a series of transactions, all of which were executed on February 17, 2026. The actual sale prices ranged from a low of $330.11 to a high of $330.50.

23. This includes 13,852,248 shares of RCL stock owned by AWILHELMSEN AS and 4,035,259 shares of RCL stock owned by AWILHELMSEN ASSET MANAGEMENT AS. AWILHELMSEN AS has the power to vote and dispose of the shares owned by AWILHELMSEN ASSET MANAGEMENT AS pursuant to an agreement between the parties. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Indira Sordo, Attorney-in-Fact for Arne Alexander Wilhelmsen	02/18/2026
	** 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

How many Royal Caribbean (RCL) shares were sold in this Form 4?

The filing reports that entities associated with director Arne Alexander Wilhelmsen sold a total of 280,000 shares of Royal Caribbean common stock. These were executed as multiple open-market sales over February 13 and 17, 2026, using weighted-average pricing within specified price ranges.

What prices were Royal Caribbean (RCL) shares sold for in the reported transactions?

The sales used weighted-average prices within ranges. On February 13, 2026, individual trades ranged from $319.01 to $332.3251. On February 17, 2026, trades ranged from $321.10 to $330.50, as detailed across the Form 4 footnotes.

How many Royal Caribbean (RCL) shares remain held by the reporting entities after the sales?

After the transactions, entities associated with the reporting person held 17,887,507 shares of Royal Caribbean indirectly. The Form 4 also shows a separate 7,689 shares held directly, reflecting ongoing substantial ownership following the reported sales.

Who actually owns the Royal Caribbean (RCL) shares referenced in the Form 4?

The filing states that 13,852,248 shares are owned by AWILHELMSEN AS and 4,035,259 shares by AWILHELMSEN ASSET MANAGEMENT AS. AWILHELMSEN AS can vote and dispose of both blocks, while the reporting person disclaims beneficial ownership beyond his pecuniary interest.

Were the Royal Caribbean (RCL) transactions direct or indirect holdings of the reporting person?

The reported sales involved indirect ownership, coded as “I” for indirect in the Form 4. A separate line shows 7,689 shares held directly, coded “D”. The footnote clarifies the role of AWILHELMSEN entities and the director’s limited beneficial interest.

What type of transactions were reported in this Royal Caribbean (RCL) Form 4?

The Form 4 describes the trades as open-market sales of common stock, using transaction code “S” for each sale. All are non-derivative transactions, and the filing provides weighted-average prices and detailed price ranges for each grouped series of trades.