Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses RCL in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named RCL in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Jason Liberty | $1,396,154 | $0 | $15,800,057 | $0 | $5,129,600 | $0 | $1,653,002 | $23,978,813 |
| President and Chief Executive Officer | ||||||||
| Michael Bayley | 1,154,385 | 0 | 5,499,924 | 0 | 2,372,340 | 0 | 407,578 | 9,434,227 |
| President and CEO, Royal Caribbean | ||||||||
| Naftali Holtz | 946,769 | 0 | 3,999,874 | 0 | 2,101,537 | 0 | 66,028 | 7,114,208 |
| Chief Financial Officer | ||||||||
| Laura Hodges Bethge | 893,462 | 0 | 3,200,054 | 0 | 1,715,702 | 0 | 142,991 | 5,952,209 |
| President, Celebrity Cruises | ||||||||
| Harri Kulovaara | 932,846 | 0 | 1,850,164 | 0 | 1,981,711 | 0 | 142,924 | 4,907,645 |
| EVP, Maritime | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Jason Liberty | $23,978,813 | $19,497,820 | $17,216,275 | +4,480,993 |
| Michael Bayley | 9,434,227 | 9,010,054 | 10,809,615 | +424,173 |
| Naftali Holtz | 7,114,208 | 5,877,903 | 4,885,432 | +1,236,305 |
| Laura Hodges Bethge | 5,952,209 | — | — | — |
| Harri Kulovaara | 4,907,645 | 4,747,653 | 4,659,596 | +159,992 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.
| Insider | Role | Transaction date | Code | Shares | Price | Value | Security | Source |
|---|---|---|---|---|---|---|---|---|
| Stephen R. Howe, Jr | Director | 2026-05-28 | A | 831 | $0 | $0 | Common | Form 4 ↗ |
| Michael O. Leavitt | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Amy McPherson | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Amy McPherson | Director | 2026-05-28 | D | 408 | 277 | 112,859 | Common | Form 4 ↗ |
| Ann S. Moore | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Christopher Wiernicki | Director | 2026-05-28 | A | 571 | 0 | 0 | Common | Form 4 ↗ |
| Stephen R. Howe, Jr | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Richard D. Fain | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| John F. Brock | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Arne Alexander Wilhelmsen | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Christopher Wiernicki | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Donald Thompson | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Donald Thompson | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Vagn O. Sorensen | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Maritza G. Montiel | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Michael O. Leavitt | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| John F. Brock | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Eyal M. Ofer | Director | 2026-05-28 | A | 831 | 0 | 0 | Common | Form 4 ↗ |
| Rebecca Yeung | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Christopher Wiernicki | Director | 2026-05-28 | D | 93 | 277 | 25,725 | Common | Form 4 ↗ |
| Maritza G. Montiel | Director | 2026-05-28 | D | 78 | 277 | 21,576 | Common | Form 4 ↗ |
| Laura Hodges Bethge | President, Celebrity Cruises | 2026-06-01 | D | 267 | 284 | 75,888 | Common | Form 4 ↗ |
| Michael Bayley | Pres&CEO, Royal Caribbean Intl | 2026-07-29 | D | 12,811 | 316 | 4,048,148 | Common | Form 4 ↗ |
Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Naftali Holtz | RSU | 2025-02-12 | — | — | 5,440 | — | $1,399,943 |
| Michael Bayley | PSU | 2025-02-12 | — | 13,892 | — | 27,784 | 3,575,002 |
| Michael Bayley | RSU | 2025-02-12 | — | — | 7,480 | — | 1,924,922 |
| Jason Liberty | PSU | 2025-02-12 | — | 39,908 | — | 79,816 | 10,270,024 |
| Naftali Holtz | PSU | 2025-02-12 | — | 10,103 | — | 20,206 | 2,599,931 |
| Jason Liberty | RSU | 2025-02-12 | — | — | 21,489 | — | 5,530,033 |
| Harri Kulovaara | RSU | 2025-02-12 | — | — | 2,876 | — | 740,117 |
| Laura Hodges Bethge | PSU | 2025-02-12 | — | 8,083 | — | 16,166 | 2,080,099 |
| Laura Hodges Bethge | RSU | 2025-02-12 | — | — | 4,352 | — | 1,119,955 |
| Harri Kulovaara | PSU | 2025-02-12 | — | 4,314 | — | 8,627 | 1,110,047 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Naftali Holtz | $1,399,943 | $2,599,931 | $0 | 65.0% |
| Michael Bayley | 1,924,922 | 3,575,002 | 0 | 65.0% |
| Jason Liberty | 5,530,033 | 10,270,024 | 0 | 65.0% |
| Harri Kulovaara | 740,117 | 1,110,047 | 0 | 60.0% |
| Laura Hodges Bethge | 1,119,955 | 2,080,099 | 0 | 65.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Jason Liberty | RSU | 8,772 | — | $2,446,686 |
| Harri Kulovaara | RSU | 8,627 | — | 2,406,243 |
| Naftali Holtz | RSU | 4,505 | — | 1,256,535 |
| Naftali Holtz | PSU | 111,782 | — | 31,178,235 |
| Naftali Holtz | RSU | 30,760 | — | 8,579,579 |
| Jason Liberty | RSU | 20,563 | — | 5,735,432 |
| Jason Liberty | PSU | 277,536 | — | 77,410,341 |
| Michael Bayley | RSU | 49,612 | — | 13,837,779 |
| Jason Liberty | RSU | 28,666 | — | 7,995,521 |
| Naftali Holtz | RSU | 5,440 | — | 1,517,325 |
| Laura Hodges Bethge | RSU | 4,410 | — | 1,230,037 |
| Laura Hodges Bethge | RSU | 2,361 | — | 658,530 |
| Laura Hodges Bethge | RSU | 1,253 | — | 349,487 |
| Jason Liberty | RSU | 79,490 | — | 22,171,351 |
| Harri Kulovaara | PSU | 69,191 | — | 19,298,754 |
| Laura Hodges Bethge | PSU | 67,867 | — | 18,929,464 |
| Naftali Holtz | PSU | 60,816 | — | 16,962,799 |
| Jason Liberty | PSU | 486,344 | — | 135,651,068 |
| Naftali Holtz | RSU | 18,535 | — | 5,169,782 |
| Laura Hodges Bethge | RSU | 19,844 | — | 5,534,888 |
| Laura Hodges Bethge | PSU | 31,857 | — | 8,885,554 |
| Harri Kulovaara | RSU | 17,364 | — | 4,843,167 |
| Michael Bayley | PSU | 246,332 | — | 68,706,921 |
| Michael Bayley | RSU | 27,784 | — | 7,749,513 |
| Michael Bayley | PSU | 168,936 | — | 47,119,629 |
| Jason Liberty | RSU | 21,489 | — | 5,993,712 |
| Jason Liberty | RSU | 79,816 | — | 22,262,279 |
| Laura Hodges Bethge | RSU | 13,056 | — | 3,641,580 |
| Naftali Holtz | RSU | 20,206 | — | 5,635,858 |
| Naftali Holtz | RSU | 1,754 | — | 489,226 |
| Harri Kulovaara | PSU | 43,200 | — | 12,049,344 |
| Laura Hodges Bethge | RSU | 4,352 | — | 1,213,860 |
| Naftali Holtz | RSU | 6,836 | — | 1,906,697 |
| Jason Liberty | RSU | 128,992 | — | 35,978,449 |
| Laura Hodges Bethge | RSU | 16,166 | — | 4,509,021 |
| Laura Hodges Bethge | RSU | 680 | — | 189,666 |
| Harri Kulovaara | RSU | 2,876 | — | 802,174 |
| Michael Bayley | RSU | 7,480 | — | 2,086,322 |
We adhere to a pay-for-performance philosophy. In line with this philosophy, we have designed our compensation programs to support three main goals: Align the interests of our executives with the interests of our shareholders, Recruit, retain, and motivate an elite management team, Reward positive contributions to both short-and long-term corporate performance
| CEO STI target (% of salary) | 200% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Meridian |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | True |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-05-28 | 220,079,230 | 7,193,973 | 396,691 | 96.83% | Passed |
| 2025 | 2025-05-28 | 216,981,131 | 6,824,825 | 312,228 | 96.95% | Passed |
| 2024 | 2024-05-29 | 199,977,491 | 4,817,683 | 171,539 | 97.65% | Passed |
| 2023 | 2023-06-01 | 180,985,216 | 4,924,854 | 330,982 | 97.35% | Passed |
| 2022 | 2022-06-02 | 147,879,905 | 38,419,788 | 4,200,128 | 79.38% | Passed |
| 2021 | 2021-06-02 | 140,015,935 | 38,902,368 | 375,378 | 78.26% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-05-28 | 96.83%a |
| 2025 | 2025-05-28 | 96.95%b |
| 2024 | 2024-05-29 | 97.65%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 1,260 : 1 |
|---|---|
| CEO total compensation | $23,978,813 |
| Median employee compensation | $19,027 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Richard D. FainIndependent · Safety, Environment, Sustainability and Health | $292,636 | $219,945 | $0 | $0 | $-1 | $512,580 |
| John F. BrockIndependent · Lead Independent Director · Nominating and Corporate Governance (Chair) · Talent and Compensation | 176,300 | 219,945 | 0 | 0 | -1 | 396,244 |
| Stephen R. Howe, JrIndependent · Audit (Chair) · Nominating and Corporate Governance | 145,000 | 219,945 | 0 | 0 | 11,260 | 376,205 |
| Vagn O. SørensenIndependent · Audit · Talent and Compensation (Chair) | 145,000 | 219,945 | 0 | 0 | — | 364,945 |
| Maritza G. MontielIndependent · Audit · Talent and Compensation | 132,000 | 219,945 | 0 | 0 | — | 351,945 |
| Rebecca YeungIndependent · Audit | 127,817 | 219,945 | 0 | 0 | — | 347,762 |
| Donald ThompsonIndependent · Safety, Environment, Sustainability and Health · Talent and Compensation | 122,000 | 219,945 | 0 | 0 | — | 341,945 |
| Michael O. LeavittIndependent · Safety, Environment, Sustainability and Health (Chair) | 120,000 | 219,945 | 0 | 0 | — | 339,945 |
| Arne Alexander WilhelmsenIndependent · Safety, Environment, Sustainability and Health · Nominating and Corporate Governance | 120,000 | 219,945 | 0 | 0 | — | 339,945 |
| Amy McPhersonIndependent · Talent and Compensation · Nominating and Corporate Governance | 117,907 | 219,945 | 0 | 0 | -1 | 337,851 |
| Ann S. MooreIndependent · Talent and Compensation | 112,000 | 219,945 | 0 | 0 | — | 331,945 |
| Eyal M. OferIndependent · Safety, Environment, Sustainability and Health · Nominating and Corporate Governance | 90,000 | 219,945 | 0 | 0 | — | 309,945 |
| William L. KimseyIndependent · Departed during FY | 83,914 | — | 0 | 0 | — | 83,914 |
| Christopher WiernickiIndependent · Partial-year service · Newly elected | 0 | 0 | 0 | 0 | 0 | 0 |
| Jason T. LibertyEmployee director · Board Chair | 0 | 0 | 0 | — | 0 | 0 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $200,006 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 35,000 / 25,000 / 20,000 |
| Stock ownership guideline | $300,000 |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,784,574 |
| Equity awards (grant-date value) | $2,639,340 |
| All other compensation | $11,257 |
| Total cost of the board | $4,435,171 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.
Of the companies Royal Caribbean Group names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.
Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Royal Caribbean Group.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Booking Holdings Inc. | 2025 | Glenn Fogel | $1,250,000 | $26,202,279 | $0 | $4,042,500 | $35,418,102 |
| 2 | Darden Restaurants, Inc. | 2026 | Ricardo Cardenas | 1,325,000 | 25,879,154 | 2,380,093 | 4,107,501 | 34,815,979 |
| 3 | United Airlines Holdings, Inc. | 2025 | Scott Kirby | 1,200,000 | 22,565,804 | 0 | 8,010,000 | 32,282,253 |
| 4 | Las Vegas Sands Corp. | 2025 | Robert Goldstein | 3,000,000 | 18,448,329 | 0 | 6,480,000 | 31,109,661 |
| 5 | Starbucks Corp. | 2025 | Brian Niccol | 1,599,998 | 19,881,585 | 0 | 1,971,000 | 30,992,773 |
| 6 | Hilton Worldwide Holdings Inc. | 2025 | Christopher Nassetta | 1,300,000 | 17,324,722 | 5,774,961 | 2,974,111 | 27,674,400 |
| 7 | Hyatt Hotels Corporation | 2025 | Mark Hoplamazian | 1,410,417 | 20,478,749 | 2,562,490 | 2,056,500 | 26,699,762 |
| 8 | MGM Resorts International | 2025 | William Hornbuckle | 2,000,000 | 10,052,751 | 0 | 5,000,000 | 25,329,156 |
| 9 | Royal Caribbean Group | 2025 | Jason Liberty | 1,396,154 | 15,800,057 | 0 | 5,129,600 | 23,978,813 |
| 10 | Marriott International, Inc. | 2025 | Anthony Capuano | 1,400,001 | 12,010,696 | 4,125,205 | 4,526,830 | 22,970,926 |
| 11 | Yum! Brands, Inc. | 2025 | David Gibbs | 1,380,769 | 12,459,226 | 3,750,012 | 3,024,000 | 20,861,526 |
| 12 | McDonald's Corporation | 2025 | Christopher Kempczinski | 1,550,000 | 8,000,215 | 8,000,066 | 2,367,160 | 20,574,525 |
| 13 | Delta Air Lines, Inc. | 2025 | Edward Bastian | 1,082,500 | 11,914,231 | 0 | 5,846,040 | 19,222,401 |
| 14 | Carnival Corp. | 2025 | Josh Weinstein | 1,435,577 | 11,961,027 | 0 | 5,420,100 | 18,887,776 |
| 15 | Expedia Group, Inc. | 2025 | Ariane Gorin | 1,254,808 | 15,689,800 | 0 | 0 | 17,592,584 |
| 16 | Caesars Entertainment, Inc. | 2025 | Thomas Reeg | 2,060,000 | 11,991,467 | 0 | 2,945,800 | 17,199,029 |
| 17 | Chipotle Mexican Grill, Inc. | 2025 | Scott Boatwright | 1,095,385 | 7,800,002 | 5,200,007 | 1,155,000 | 15,455,736 |
| 18 | Wynn Resorts, Ltd. | 2025 | Craig Billings | 2,000,000 | 9,624,110 | 0 | 3,433,750 | 15,090,901 |
| 19 | American Airlines Group Inc. | 2025 | Robert Isom | 1,300,000 | 12,489,000 | 0 | 0 | 13,871,825 |
| 20 | Norwegian Cruise Line Holdings Ltd. | 2025 | Harry Sommer | 1,300,000 | 9,499,960 | 0 | 2,880,800 | 13,752,560 |
| 21 | Domino's Pizza, Inc. | 2025 | Russell Weiner | 925,000 | 5,803,394 | 1,812,511 | 1,850,000 | 10,696,081 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
| Company | Annual incentive payout | Long-term vehicle mix | PSU measures include TSR | Compensation consultant |
|---|---|---|---|---|
| Royal Caribbean Group | 183.2% | PSU 51 · RSU 28 | No | Meridian |
| American Airlines Group Inc. | 50.97% | PSU 50 · RSU 50 | No | Korn Ferry |
| Booking Holdings Inc. | 162% | PSU 60 · RSU 40 | Yes — Relative Total Stockholder Return (rTSR) | Semler Brossy |
| Caesars Entertainment, Inc. | 71.5% | RSU 50 · PSU 50 | Yes — relative total shareholder return (rTSR) | Aon |
| Carnival Corp. | 186.9% | PSU 60 · RSU 40 | Yes — Relative TSR | FW Cook |
| Chipotle Mexican Grill, Inc. | 53% | PSU 60 · Options 20 · RSU 20 | No | Meridian Compensation Partners, LLC |
| Darden Restaurants, Inc. | 155% | PSU 50 · Options 25 · RSU 25 | Yes — Relative TSR | Pearl Meyer |
| Delta Air Lines, Inc. | 54.46% | PSU 50 · Cash LTI 25 · RSU 25 | No | Frederic W. Cook & Co., Inc. (FW Cook) |
| Domino's Pizza, Inc. | 100.0% | PSU 55 · Options 25 · RSU 20 | No | Meridian Compensation Partners, LLC |
| Expedia Group, Inc. | not disclosed | PSU 50 · RSU 50 | No | Compensia, Inc. |
| Hilton Worldwide Holdings Inc. | 114% | PSU 50 · RSU 25 · Options 25 | No | Exequity |
| Hyatt Hotels Corporation | 84% | PSU 40 · SAR 30 · RSU 30 | No | Korn Ferry |
| Las Vegas Sands Corp. | 108% | RSU 100 | not disclosed | Korn Ferry |
| Marriott International, Inc. | 162% | PSU 50 · RSU 25 · Options 25 | No | Pearl Meyer |
| McDonald's Corporation | not disclosed | PRSU 50 · Option 50 | not disclosed | Semler Brossy Consulting Group LLC |
| MGM Resorts International | 100% | PSU 50 · RSU 50 | Yes — Relative TSR | F.W. Cook |
| Norwegian Cruise Line Holdings Ltd. | 110.8% | PSU 50 · RSU 50 | No | Korn Ferry |
| Starbucks Corp. | 54.8% | PSU 60 · RSU 40 | No | Pay Governance |
| United Airlines Holdings, Inc. | not disclosed | not disclosed | not disclosed | Exequity |
| Wynn Resorts, Ltd. | 256% | PSU 55 · RSU 45 | No | Radford |
| Yum! Brands, Inc. | 68% | PSU 50 · RSU 25 · Options 25 | Yes — TSR relative to S&P 500 Consumer Discretionary Index | Meridian Compensation Partners, LLC |
Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Jason Liberty | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “SUMMARY COMPENSATION TABLE”. As printed: 23,978,813. Filing ↗machine: r3 · c12 · span 2449115–2449125 |
| 2 | Section 01, Michael Bayley | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “SUMMARY COMPENSATION TABLE”. As printed: 9,434,227. Filing ↗machine: r9 · c12 · span 2473880–2473889 |
| 3 | Section 01, Naftali Holtz | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “SUMMARY COMPENSATION TABLE”. As printed: 7,114,208. Filing ↗machine: r6 · c12 · span 2461348–2461357 |
| 4 | Section 01, Laura Hodges Bethge | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “SUMMARY COMPENSATION TABLE”. As printed: 5,952,209. Filing ↗machine: t146 · r12 · c12 · span 2486352–2486361 |
| 5 | Section 01, Harri Kulovaara | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “SUMMARY COMPENSATION TABLE”. As printed: 4,907,645. Filing ↗machine: r15 · c12 · span 2498574–2498583 |
| 6 | Section 03, Naftali Holtz RSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r10 · c20 · span 2638506–2638515 |
| 7 | Section 03, Michael Bayley PSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t155 · r25 · c8 · span 2800331–2800337 |
| 8 | Section 03, Michael Bayley RSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t155 · r26 · c3 · span 2802961–2802966 |
| 9 | Section 03, Jason Liberty PSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r6 · c20 · span 2614784–2614794 |
| 10 | Section 03, Naftali Holtz PSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r9 · c20 · span 2633190–2633199 |
| 11 | Section 03, Jason Liberty RSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r7 · c20 · span 2620084–2620093 |
| 12 | Section 03, Harri Kulovaara RSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t158 · r10 · c3 · span 2870435–2870440 |
| 13 | Section 03, Laura Hodges Bethge PSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r15 · c20 · span 2670265–2670274 |
| 14 | Section 03, Laura Hodges Bethge RSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t152 · r16 · c20 · span 2674820–2674829 |
| 15 | Section 03, Harri Kulovaara PSU | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t158 · r9 · c8 · span 2867806–2867811 |
| 16 | Section 07, pay ratio | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “CEO Pay Ratio”. As printed: 1260 : 1. Filing ↗machine: span 3107424–3107430 |
| 17 | Section 08, Richard D. Fain | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 512,580. Filing ↗machine: t186 · r4 · c8 · span 3455952–3455959 |
| 18 | Section 08, John F. Brock | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 396,244. Filing ↗machine: t186 · r3 · c8 · span 3451960–3451967 |
| 19 | Section 08, Stephen R. Howe, Jr | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 376,205. Filing ↗machine: t186 · r5 · c8 · span 3459690–3459697 |
| 20 | Section 08, Vagn O. Sørensen | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 364,945. Filing ↗machine: t186 · r12 · c8 · span 3486605–3486612 |
| 21 | Section 08, Maritza G. Montiel | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 351,945. Filing ↗machine: t186 · r9 · c8 · span 3475132–3475139 |
| 22 | Section 08, Rebecca Yeung | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 347,762. Filing ↗machine: t186 · r15 · c8 · span 3497828–3497835 |
| 23 | Section 08, Donald Thompson | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 341,945. Filing ↗machine: t186 · r13 · c8 · span 3490344–3490351 |
| 24 | Section 08, Michael O. Leavitt | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 339,945. Filing ↗machine: t186 · r7 · c8 · span 3467408–3467415 |
| 25 | Section 08, Arne Alexander Wilhelmsen | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 339,945. Filing ↗machine: t186 · r14 · c8 · span 3494108–3494115 |
| 26 | Section 08, Amy McPherson | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 337,851. Filing ↗machine: t186 · r8 · c8 · span 3471390–3471397 |
| 27 | Section 08, Ann S. Moore | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 331,945. Filing ↗machine: t186 · r10 · c8 · span 3478883–3478890 |
| 28 | Section 08, Eyal M. Ofer | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 309,945. Filing ↗machine: t186 · r11 · c8 · span 3482845–3482852 |
| 29 | Section 08, William L. Kimsey | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 83,914. Filing ↗machine: t186 · r6 · c2 · span 3461308–3461314 |
| 30 | Section 08, Christopher Wiernicki | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 31 | Section 08, Jason T. Liberty | DEF 14A | 2026-04-17 | 0000884887-26-000017 | Section “Director Compensation”. As printed: 0. Filing ↗ |
| 32 | Section 02, Stephen R. Howe, Jr 2026-05-28 | Form 4 | 2026-05-29 | 0001760676-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 33 | Section 02, Michael O. Leavitt 2026-05-28 | Form 4 | 2026-05-29 | 0001536118-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 34 | Section 02, Amy McPherson 2026-05-28 | Form 4 | 2026-05-29 | 0001464369-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 35 | Section 02, Amy McPherson 2026-05-28 | Form 4 | 2026-05-29 | 0001464369-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 36 | Section 02, Ann S. Moore 2026-05-28 | Form 4 | 2026-05-29 | 0001051394-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 37 | Section 02, Christopher Wiernicki 2026-05-28 | Form 4 | 2026-07-30 | 0002112888-26-000012 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 38 | Section 02, Stephen R. Howe, Jr 2026-05-28 | Form 4 | 2026-05-29 | 0001760676-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 39 | Section 02, Richard D. Fain 2026-05-28 | Form 4 | 2026-05-29 | 0001316987-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 40 | Section 02, John F. Brock 2026-05-28 | Form 4 | 2026-05-29 | 0001309426-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 41 | Section 02, Arne Alexander Wilhelmsen 2026-05-28 | Form 4 | 2026-05-29 | 0001317345-26-000015 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 42 | Section 02, Christopher Wiernicki 2026-05-28 | Form 4 | 2026-05-29 | 0002112888-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 43 | Section 02, Donald Thompson 2026-05-28 | Form 4 | 2026-05-29 | 0001374074-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 44 | Section 02, Donald Thompson 2026-05-28 | Form 4 | 2026-05-29 | 0001374074-26-000008 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 45 | Section 02, Vagn O. Sorensen 2026-05-28 | Form 4 | 2026-05-29 | 0001526945-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 46 | Section 02, Maritza G. Montiel 2026-05-28 | Form 4 | 2026-05-29 | 0001640081-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 47 | Section 02, Michael O. Leavitt 2026-05-28 | Form 4 | 2026-05-29 | 0001536118-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 48 | Section 02, John F. Brock 2026-05-28 | Form 4 | 2026-05-29 | 0001309426-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 49 | Section 02, Eyal M. Ofer 2026-05-28 | Form 4 | 2026-05-29 | 0001317545-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 50 | Section 02, Rebecca Yeung 2026-05-28 | Form 4 | 2026-05-29 | 0001962960-26-000002 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 51 | Section 02, Christopher Wiernicki 2026-05-28 | Form 4 | 2026-05-29 | 0002112888-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 52 | Section 02, Maritza G. Montiel 2026-05-28 | Form 4 | 2026-05-29 | 0001640081-26-000005 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 53 | Section 02, Laura Hodges Bethge 2026-06-01 | Form 4 | 2026-06-03 | 0001911466-26-000011 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 54 | Section 02, Michael Bayley 2026-07-29 | Form 4 | 2026-07-31 | 0001492662-26-000009 | Insider equity transaction reported since the proxy statement. Filing ↗ |
| 55 | Section 06, 2026 vote | Form 8-K | 2026-05-28 | 0000884887-26-000030 | Item 5.07 · say-on-pay result. As reported: 96.83% (votes for as printed: 220,079,230). Filing ↗ |
| 56 | Section 06, 2025 vote | Form 8-K | 2025-05-28 | 0000884887-25-000104 | Item 5.07 · say-on-pay result. As reported: 96.95% (votes for as printed: 216,981,131). Filing ↗ |
| 57 | Section 06, 2024 vote | Form 8-K | 2024-05-31 | 0001104659-24-067297 | Item 5.07 · say-on-pay result. As reported: 97.65% (votes for as printed: 199,977,491). Filing ↗ |
| 58 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 59 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 60 | Section 09b board cost (computed) | Computed | — | computed | Cash 1,784,574 + equity 2,639,340 + all other 11,257 = 4,435,171, summed across the director compensation table rows.machine: formula: Σ = 4,435,171 |
| 61 | Booking Holdings Inc., Section 10b CEO total | DEF 14A | 2026-04-21 | 0001308179-26-000310 | CEO total compensation as printed in Booking Holdings Inc.'s own proxy. As printed: 35,418,102. Filing ↗machine: span 2167953–2167963 |
| 62 | Darden Restaurants, Inc., Section 10b CEO total | DEF 14A | 2026-08-10 | 0001193125-26-342023 | CEO total compensation as printed in Darden Restaurants, Inc.'s own proxy. As printed: 34,815,979. Filing ↗machine: r4 · c18 · span 1947073–1947083 |
| 63 | United Airlines Holdings, Inc., Section 10b CEO total | DEF 14A | 2026-04-07 | 0001104659-26-040467 | CEO total compensation as printed in United Airlines Holdings, Inc.'s own proxy. As printed: 32,282,253. Filing ↗machine: t375 · r8 · c16 · span 2556272–2556282 |
| 64 | Las Vegas Sands Corp., Section 10b CEO total | DEF 14A | 2026-04-01 | 0001300514-26-000031 | CEO total compensation as printed in Las Vegas Sands Corp.'s own proxy. As printed: 31,109,661. Filing ↗ |
| 65 | Starbucks Corp., Section 10b CEO total | DEF 14A | 2026-01-26 | 0001213900-26-007780 | CEO total compensation as printed in Starbucks Corp.'s own proxy. As printed: 30,992,773. Filing ↗machine: span 2373800–2373810 |
| 66 | Hilton Worldwide Holdings Inc., Section 10b CEO total | DEF 14A | 2026-04-02 | 0001585689-26-000023 | CEO total compensation as printed in Hilton Worldwide Holdings Inc.'s own proxy. As printed: 27,674,400. Filing ↗machine: r2 · c27 · span 712793–712804 |
| 67 | Hyatt Hotels Corporation, Section 10b CEO total | DEF 14A | 2026-04-02 | 0001104659-26-038759 | CEO total compensation as printed in Hyatt Hotels Corporation's own proxy. As printed: 26,699,762. Filing ↗machine: span 775055–775065 |
| 68 | MGM Resorts International, Section 10b CEO total | DEF 14A | 2026-03-27 | 0001193125-26-129074 | CEO total compensation as printed in MGM Resorts International's own proxy. As printed: 25,329,156. Filing ↗machine: span 1064000–1064010 |
| 69 | Royal Caribbean Group (subject), Section 10b CEO total | DEF 14A | 2026-04-17 | 0000884887-26-000017 | CEO total compensation as printed in Royal Caribbean Group's own proxy. As printed: 23,978,813. Filing ↗machine: r3 · c12 · span 2449115–2449125 |
| 70 | Marriott International, Inc., Section 10b CEO total | DEF 14A | 2026-03-27 | 0001140361-26-011590 | CEO total compensation as printed in Marriott International, Inc.'s own proxy. As printed: 22,970,926. Filing ↗machine: r2 · c28 · span 1165120–1165130 |
| 71 | Yum! Brands, Inc., Section 10b CEO total | DEF 14A | 2026-04-03 | 0001193125-26-142078 | CEO total compensation as printed in Yum! Brands, Inc.'s own proxy. As printed: 20,861,526. Filing ↗machine: t86 · r7 · c11 · span 1988224–1988234 |
| 72 | McDonald's Corporation, Section 10b CEO total | DEF 14A | 2026-04-07 | 0001193125-26-145548 | CEO total compensation as printed in McDonald's Corporation's own proxy. As printed: 20,574,525. Filing ↗machine: r4 · c25 · span 2683025–2683035 |
| 73 | Delta Air Lines, Inc., Section 10b CEO total | DEF 14A | 2026-04-24 | 0001308179-26-000345 | CEO total compensation as printed in Delta Air Lines, Inc.'s own proxy. As printed: 19,222,401. Filing ↗machine: t124 · r1 · c35 · span 616606–616616 |
| 74 | Carnival Corp., Section 10b CEO total | DEF 14A | 2026-02-27 | 0001104659-26-021074 | CEO total compensation as printed in Carnival Corp.'s own proxy. As printed: 18,887,776. Filing ↗machine: t207 · r1 · c36 · span 2027870–2027880 |
| 75 | Expedia Group, Inc., Section 10b CEO total | DEF 14A | 2026-04-29 | 0001324424-26-000022 | CEO total compensation as printed in Expedia Group, Inc.'s own proxy. As printed: 17,592,584. Filing ↗machine: t142 · r6 · c10 · span 775351–775361 |
| 76 | Caesars Entertainment, Inc., Section 10b CEO total | DEF 14A | 2026-04-23 | 0001193125-26-174058 | CEO total compensation as printed in Caesars Entertainment, Inc.'s own proxy. As printed: 17,199,029. Filing ↗machine: r3 · c23 · span 649787–649797 |
| 77 | Chipotle Mexican Grill, Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001140361-26-017294 | CEO total compensation as printed in Chipotle Mexican Grill, Inc.'s own proxy. As printed: 15,455,736. Filing ↗machine: r2 · c22 · span 1337747–1337758 |
| 78 | Wynn Resorts, Ltd., Section 10b CEO total | DEF 14A | 2026-03-25 | 0001193125-26-124077 | CEO total compensation as printed in Wynn Resorts, Ltd.'s own proxy. As printed: 15,090,901. Filing ↗machine: r4 · c29 · span 740637–740647 |
| 79 | American Airlines Group Inc., Section 10b CEO total | DEF 14A | 2026-04-28 | 0001193125-26-187096 | CEO total compensation as printed in American Airlines Group Inc.'s own proxy. As printed: 13,871,825. Filing ↗machine: r3 · c34 · span 1427237–1427247 |
| 80 | Norwegian Cruise Line Holdings Ltd., Section 10b CEO total | DEF 14A | 2026-04-30 | 0001104659-26-052146 | CEO total compensation as printed in Norwegian Cruise Line Holdings Ltd.'s own proxy. As printed: 13,752,560. Filing ↗machine: r1 · c56 · span 938613–938623 |
| 81 | Domino's Pizza, Inc., Section 10b CEO total | DEF 14A | 2026-03-10 | 0001286681-26-000012 | CEO total compensation as printed in Domino's Pizza, Inc.'s own proxy. As printed: 10,696,081. Filing ↗machine: t96 · r2 · c18 · span 1510987–1510997 |
| 82 | Section 10a, Starbucks Corp. reciprocity | DEF 14A | — | 0001213900-26-007780 | Starbucks Corp.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 83 | Section 10a, Booking Holdings Inc. reciprocity | DEF 14A | — | 0001308179-26-000310 | Booking Holdings Inc. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 84 | Section 10a, Norwegian Cruise Line Holdings Ltd. reciprocity | DEF 14A | — | 0001104659-26-052146 | Norwegian Cruise Line Holdings Ltd. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 85 | Section 10a, Hyatt Hotels Corporation reciprocity | DEF 14A | — | 0001104659-26-038759 | Hyatt Hotels Corporation names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 86 | Section 10a, United Airlines Holdings, Inc. reciprocity | DEF 14A | — | 0001104659-26-040467 | United Airlines Holdings, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 87 | Section 10a, Expedia Group, Inc. reciprocity | DEF 14A | — | 0001324424-26-000022 | Expedia Group, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 88 | Section 10a, Chipotle Mexican Grill, Inc. reciprocity | DEF 14A | — | 0001140361-26-017294 | Chipotle Mexican Grill, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 89 | Section 10a, Yum! Brands, Inc. reciprocity | DEF 14A | — | 0000950170-25-051113 | Yum! Brands, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 90 | Section 10a, Domino's Pizza, Inc. reciprocity | DEF 14A | — | 0001286681-26-000012 | Domino's Pizza, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 91 | Section 10a, Marriott International, Inc. reciprocity | DEF 14A | — | 0001140361-26-011590 | Marriott International, Inc. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 92 | Section 10a, Caesars Entertainment, Inc. reciprocity | DEF 14A | — | 0001193125-26-174058 | Caesars Entertainment, Inc. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 93 | Section 10a, Darden Restaurants, Inc. reciprocity | DEF 14A | — | 0000950170-25-101699 | Darden Restaurants, Inc. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 94 | Section 10a, Las Vegas Sands Corp. reciprocity | DEF 14A | — | 0001300514-26-000031 | Las Vegas Sands Corp. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 95 | Section 10a, MGM Resorts International reciprocity | DEF 14A | — | 0001193125-26-129074 | MGM Resorts International names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 96 | Section 10a, Wynn Resorts, Ltd. reciprocity | DEF 14A | — | 0001193125-26-124077 | Wynn Resorts, Ltd. names Royal Caribbean Group in its own disclosed peer group (read from its most recent proxy). Filing ↗ |
| 97 | Section 10a, Delta Air Lines, Inc. reciprocity | DEF 14A | — | 0001308179-26-000345 | Delta Air Lines, Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |
| 98 | Section 10a, American Airlines Group Inc. reciprocity | DEF 14A | — | 0001193125-26-187096 | American Airlines Group Inc.'s most recent proxy was read; its disclosed peer group does not include Royal Caribbean Group. Filing ↗ |