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 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. 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.
Royal Caribbean Cruises Ltd. chief accounting officer Henry L. Pujol reported three small dispositions of common stock in early February. On February 7, 2026, he disposed of 156 shares at $338.6 per share, followed by 120 shares at $338.6 on February 8, 2026 and 196 shares at $345.405 on February 9, 2026, all coded "F" and held directly. After these transactions, he directly beneficially owned 7,354 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. President & CEO Jason T. Liberty reported three transactions in company common stock. On February 7, 2026, he disposed of 3,081 shares at $338.60 per share, leaving 138,510 shares held directly.
On February 8, 2026, he disposed of 5,639 shares at $338.60, with direct holdings of 132,871 shares afterward. On February 9, 2026, he disposed of 8,091 shares at $345.405, resulting in 124,780 common shares directly owned following the reported transactions.
Royal Caribbean Cruises Ltd. senior executive Robert Alexander Lake reported three Form 4 transactions in company common stock. On February 7, 2026, a transaction coded “F” covered 320 shares at $338.60 per share. On February 8, 2026, another “F” transaction involved 388 shares at $338.60. On February 9, 2026, a further “F” transaction covered 844 shares at $345.405. After these dispositions, Lake directly beneficially owned 19,525 shares of Royal Caribbean common stock.
Royal Caribbean Cruises Ltd. Chief Financial Officer Naftali Holtz reported three insider share transactions in early February 2026. The Form 4 shows non-derivative Common Stock transactions coded "F" on February 7, 8, and 9, 2026, involving 438, 1,211, and 1,772 shares, respectively.
The reported transaction prices were $338.60 for the first two dates and $345.405 for the third. After these transactions, Holtz directly beneficially owned 41,475, then 40,264, and finally 38,492 Royal Caribbean shares. A footnote notes that his holdings include 87 shares acquired under the company’s Employee Stock Purchase Plan.