Naftali Holtz compensation by year
Royal Caribbean Summary Compensation Table · all 4 fiscal years held| Component | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|
| Salary | $675,000 | $792,466 | $896,923 | $946,769 |
| Bonus | $0 | $0 | $0 | $0 |
| Stock awards | $1,400,011 | $2,520,003 | $3,099,991 | $3,999,874 |
| Option awards | $0 | $0 | $0 | $0 |
| Non-equity incentive | $709,645 | $1,527,680 | $1,823,908 | $2,101,537 |
| Pension and deferred compensation | $0 | $0 | $0 | $0 |
| All other | $33,396 | $45,283 | $57,081 | $66,028 |
| Total | $2,818,052 | $4,885,432 | $5,877,903 | $7,114,208 |
Each year as stated in that year's proxy. A dash means the company reported no figure in that column. Source: Royal Caribbean Group DEF 14A filed April 17, 2026, accession 0000884887-26-000017, and prior-year filings. Open the filing on EDGAR.
Equity holdings
unvested awards at FY2025 year-end| Type | Unvested units | Value at year-end | Exercise price |
|---|---|---|---|
| PSU | 111,782 | $31,178,235 | — |
| PSU | 60,816 | $16,962,799 | — |
| RSU | 30,760 | $8,579,579 | — |
| RSU | 20,206 | $5,635,858 | — |
| RSU | 18,535 | $5,169,782 | — |
| RSU | 6,836 | $1,906,697 | — |
| RSU | 5,440 | $1,517,325 | — |
| RSU | 4,505 | $1,256,535 | — |
| RSU | 1,754 | $489,226 | — |
Per the Outstanding Equity Awards at Fiscal Year-End table in Royal Caribbean Group's FY2025 proxy; value at the fiscal year-end close, as the company printed it.
Change-in-control & termination
estimated payments Royal Caribbean discloses, by trigger · FY2025| Trigger | Cash severance | Accelerated equity | Benefits continuation | Total as disclosed |
|---|---|---|---|---|
| Disability | $0 | $17,931,767 | $0 | $17,931,767 |
| Change in control and involuntary termination | $1,900,500 | $31,272,109 | $18,339 | $35,781,624 |
| Resignation for good reason, no change in control | $1,900,500 | $0 | $18,339 | $4,509,515 |
| Death | $0 | $17,931,767 | $0 | $17,931,767 |
Per the Potential Payments Upon Termination or Change in Control table in Royal Caribbean Group's FY2025 proxy. Estimates as the company printed them; a dash means it printed no figure.
Royal Caribbean’s named executive officers, FY2025
as the company reported each| Named executive officer | Role | FY2025 total |
|---|---|---|
| Jason Liberty | President and Chief Executive Officer | $23,978,813 |
| Michael Bayley | President and CEO, Royal Caribbean | $9,434,227 |
| Naftali Holtz · this page | Chief Financial Officer | $7,114,208 |
| Laura Hodges Bethge | President, Celebrity Cruises | $5,952,209 |
| Harri Kulovaara | EVP, Maritime | $4,907,645 |
The full Royal Caribbean compensation record
free company briefThis page is one person within Royal Caribbean's record. The company brief lists every named executive, each linking to their own page.
Compensation, the day it’s disclosed
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How this record is built
Every figure on this page is one figure from a public SEC filing, printed as the filing states it and cited to the document. Compensation totals are Royal Caribbean's own disclosed totals, not summed by Velarion. Insider transactions are read from Form 4 filings and cover every line filed since the most recent proxy. Nothing is estimated by Velarion; where the company does not disclose a value the cell reads "—", and a section appears only where the company discloses the data. Corrections: records@velarion.ai.
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