8-KMaterial Agreements

ROYAL CARIBBEAN CRUISES LTD 8-K Report, Material Agreement (Jun 12, 2006)

Filed June 12, 2006For Securities:RCL

Summary

Royal Caribbean Cruises Ltd. (RCL) filed an 8-K on June 12, 2006, reporting a decision made by its Compensation Committee on June 6, 2006. The committee exercised its discretion under the company's stock award plan to extend the expiration date of stock options previously vested for director John D. Chandris. This extension is for one year following Mr. Chandris' conclusion of service as a director. This action is primarily administrative in nature, related to executive compensation and equity awards. Investors should note that this filing does not contain any new financial results, material business updates, or strategic shifts. The core information relates to the management of executive stock options in accordance with established company plans.

Key Highlights

  • 1The Compensation Committee of RCL's Board of Directors decided to extend the expiration date of stock options for director John D. Chandris.
  • 2The extension is for one year, commencing after Mr. Chandris ceases to serve as a director.
  • 3These stock options were previously vested on the date of Mr. Chandris' conclusion of service.
  • 4The decision was made under the company's existing stock award plan.
  • 5This filing is an 8-K, indicating a material event that requires public disclosure.
  • 6The event date reported is June 6, 2006, with the filing occurring on June 11, 2006.

Frequently Asked Questions

The main purpose of this 8-K filing is to report a decision made by Royal Caribbean Cruises Ltd.'s Compensation Committee to extend the expiration date of stock options previously granted to director John D. Chandris.

No, this filing does not provide any new financial results or details about changes in business operations. It specifically addresses a decision regarding executive stock options as per the company's stock award plan.

The stock options' expiration date has been extended for one year following the conclusion of John D. Chandris' service as a director of the company.

Companies often have provisions within their stock award plans that allow for extensions or modifications of option expiration dates under certain circumstances, such as a director's departure, with Compensation Committee approval. The specifics depend on the company's established policies.