Welcome to our dedicated page for Royal Caribbean Group SEC filings (Ticker: RCL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Royal Caribbean Cruises Ltd. filings document the regulatory record for Royal Caribbean Group’s cruise vacation business and public-company capital structure. The company’s Form 8-K reports include operating results, financial outlook commentary, material definitive agreements, senior note offerings, and debt refinancing activity tied to its fleet and corporate financing needs.
Proxy materials cover shareholder voting matters, board composition, executive compensation, equity awards, and governance practices. Other disclosures address director appointments, shelf registration activity for registered securities, use of proceeds from debt transactions, and risk and capital-structure matters relevant to an international cruise operator with multiple brands and joint venture interests.
Royal Caribbean Cruises Ltd. is issuing new long-term debt to restructure its balance sheet. The company entered an underwriting agreement for a public offering of $1,250,000,000 of 4.750% Senior Notes due 2033 and $1,250,000,000 of 5.250% Senior Notes due 2038, for total senior notes of $2,500,000,000. The underwritten offering, led by J.P. Morgan Securities, Morgan Stanley & Co. and PNC Capital Markets, is expected to close on February 27, 2026, subject to customary conditions.
The company plans to use the net proceeds primarily to refinance senior notes maturing in 2026 and to repay other existing indebtedness, including possible term loans. This shifts upcoming maturities further into the future at fixed interest rates.
Royal Caribbean Cruises Ltd. reported equity compensation transactions for Chief Accounting Officer Henry L. Pujol. On 02/10/2026, he acquired 10,788 shares of common stock from vested performance shares and 569 shares from restricted stock units, both granted under the 2008 Equity Incentive Plan, at $0 per share.
To cover related tax liabilities, the issuer withheld 4,111 shares at $345.405 per share on 02/10/2026 and 91 shares at $337.84 per share on 02/12/2026. After these transactions, Pujol directly owned 14,509 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. reported equity compensation transactions for Chief Accounting Officer Henry L. Pujol. On 02/10/2026, he acquired 10,788 shares of common stock from vested performance shares and 569 shares from restricted stock units, both granted under the 2008 Equity Incentive Plan, at $0 per share.
To cover related tax liabilities, the issuer withheld 4,111 shares at $345.405 per share on 02/10/2026 and 91 shares at $337.84 per share on 02/12/2026. After these transactions, Pujol directly owned 14,509 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. President & CEO Jason T. Liberty reported equity awards and related tax-withholding transactions in common stock. On 02/10/2026, he acquired 275,686 shares underlying performance shares and 20,565 shares underlying restricted stock units at $0 per share. To cover tax liabilities, the company withheld 108,481 shares on 02/10/2026 at $345.405 per share and 2,818 shares on 02/12/2026 at $337.84 per share. Following these transactions, Liberty directly owned 309,732 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. President & CEO Jason T. Liberty reported equity awards and related tax-withholding transactions in common stock. On 02/10/2026, he acquired 275,686 shares underlying performance shares and 20,565 shares underlying restricted stock units at $0 per share. To cover tax liabilities, the company withheld 108,481 shares on 02/10/2026 at $345.405 per share and 2,818 shares on 02/12/2026 at $337.84 per share. Following these transactions, Liberty directly owned 309,732 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. senior executive Robert Alexander Lake reported equity compensation and related tax withholdings in company stock. On 02/10/2026, he acquired 28,767 shares underlying performance shares and 1,743 shares underlying restricted stock units at $0 under the 2008 Equity Incentive Plan.
On the same date, 11,319 shares were withheld at $345.405 per share to cover tax obligations, and on 02/12/2026 a further 267 shares were withheld at $337.84 tied to RSU vesting. After these transactions, Lake directly owned 38,449 common shares.
Royal Caribbean Cruises Ltd. senior executive Robert Alexander Lake reported equity compensation and related tax withholdings in company stock. On 02/10/2026, he acquired 28,767 shares underlying performance shares and 1,743 shares underlying restricted stock units at $0 under the 2008 Equity Incentive Plan.
On the same date, 11,319 shares were withheld at $345.405 per share to cover tax obligations, and on 02/12/2026 a further 267 shares were withheld at $337.84 tied to RSU vesting. After these transactions, Lake directly owned 38,449 common shares.
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.
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.
Royal Caribbean Cruises CFO Naftali Holtz reported equity awards and related tax share withholdings in Royal Caribbean Cruises Ltd. common stock. On 02/10/2026 he acquired 60,411 shares from performance share vesting and 5,577 shares from restricted stock units under the company’s 2008 Equity Incentive Plan.
To cover tax liabilities from these vestings, the issuer withheld 23,770 shares on 02/10/2026 and 713 shares on 02/12/2026. After these transactions, Holtz directly owned 79,997 shares of Royal Caribbean Cruises Ltd. common stock.
Royal Caribbean Cruises CFO Naftali Holtz reported equity awards and related tax share withholdings in Royal Caribbean Cruises Ltd. common stock. On 02/10/2026 he acquired 60,411 shares from performance share vesting and 5,577 shares from restricted stock units under the company’s 2008 Equity Incentive Plan.
To cover tax liabilities from these vestings, the issuer withheld 23,770 shares on 02/10/2026 and 713 shares on 02/12/2026. After these transactions, Holtz directly owned 79,997 shares of Royal Caribbean Cruises Ltd. common stock.
Royal Caribbean Cruises Ltd. officer Laura H. Bethge, President of Celebrity Cruises, reported equity compensation and related tax withholding transactions in company common stock.
On February 10, 2026, she acquired 31,646 shares from performance share awards and 3,336 shares from restricted stock units at $0 per share under the company’s 2008 Equity Incentive Plan. To cover tax liabilities on vesting, 12,451 shares were withheld at $345.405 per share on February 10, and 570 shares were withheld at $337.84 per share on February 12.
After these transactions, Bethge directly beneficially owned 40,640 common shares, with an additional 87 shares held indirectly by her spouse.
Royal Caribbean Cruises Ltd. officer Laura H. Bethge, President of Celebrity Cruises, reported equity compensation and related tax withholding transactions in company common stock.
On February 10, 2026, she acquired 31,646 shares from performance share awards and 3,336 shares from restricted stock units at $0 per share under the company’s 2008 Equity Incentive Plan. To cover tax liabilities on vesting, 12,451 shares were withheld at $345.405 per share on February 10, and 570 shares were withheld at $337.84 per share on February 12.
After these transactions, Bethge directly beneficially owned 40,640 common shares, with an additional 87 shares held indirectly by her spouse.
Royal Caribbean Cruises Ltd. President & CEO of Royal Caribbean International, Michael W. Bayley, reported several equity award and tax-withholding transactions in company common stock. On 02/10/2026, he acquired 167,809 shares underlying performance shares and 5,876 shares underlying restricted stock units at a stated price of $0, reflecting equity awards under the company’s 2008 Equity Incentive Plan.
Also on 02/10/2026, 65,656 shares were disposed of at $345.405 per share and on 02/12/2026, 2,943 shares were disposed of at $337.84 per share, in each case to cover Bayley’s tax liabilities on vesting of these awards. Following these transactions, he directly owned 138,108 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. President & CEO of Royal Caribbean International, Michael W. Bayley, reported several equity award and tax-withholding transactions in company common stock. On 02/10/2026, he acquired 167,809 shares underlying performance shares and 5,876 shares underlying restricted stock units at a stated price of $0, reflecting equity awards under the company’s 2008 Equity Incentive Plan.
Also on 02/10/2026, 65,656 shares were disposed of at $345.405 per share and on 02/12/2026, 2,943 shares were disposed of at $337.84 per share, in each case to cover Bayley’s tax liabilities on vesting of these awards. Following these transactions, he directly owned 138,108 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. is planning to issue two new series of unsecured senior notes, each paying semi-annual cash interest, to refinance its 2026 senior notes and repay other existing indebtedness, including term loans. The notes will rank equally with the company’s other senior unsecured debt and will be structurally subordinated to liabilities at subsidiaries.
The company reported strong 2025 results, with total revenues of $17,935 million, operating income of $4,910 million, and net income of $4,268 million. Total debt including finance leases was $21,345 million and shareholders’ equity was $10,245 million as of December 31, 2025. Adjusted EBITDA reached $7,026 million, giving a ratio of Adjusted EBITDA to net interest expense of 7.08x, indicating improved coverage of interest costs.
Royal Caribbean Cruises Ltd. is planning to issue two new series of unsecured senior notes, each paying semi-annual cash interest, to refinance its 2026 senior notes and repay other existing indebtedness, including term loans. The notes will rank equally with the company’s other senior unsecured debt and will be structurally subordinated to liabilities at subsidiaries.
The company reported strong 2025 results, with total revenues of $17,935 million, operating income of $4,910 million, and net income of $4,268 million. Total debt including finance leases was $21,345 million and shareholders’ equity was $10,245 million as of December 31, 2025. Adjusted EBITDA reached $7,026 million, giving a ratio of Adjusted EBITDA to net interest expense of 7.08x, indicating improved coverage of interest costs.
Royal Caribbean Cruises Ltd. outlines its 2025 business, highlighting a combined fleet of 69 ships with approximately 179,720 berths across its Royal Caribbean, Celebrity Cruises, Silversea and partner brands. The company carried 9,446,010 passengers in 2025 with occupancy of 109.7%, showing strong utilization of capacity.
Royal Caribbean is expanding through new Icon-, Oasis-, Edge- and Discovery-class ocean ships plus a 20-vessel Celebrity River Cruises program, and a growing portfolio of private destinations expected to rise from 3 to 8 by 2028. The filing emphasizes decarbonization via its Destination Net Zero strategy, heavy investment in technology and data, and a global workforce of about 108,000 employees, most shipboard and largely unionized.
Industry data in the report show global cruise guests increasing to 37 million in 2025 and North American penetration reaching 5.96%, supporting the company’s view of long-term growth potential.