Summary
Royal Caribbean Cruises Ltd. (RCL) filed an 8-K on February 15, 2017, to disclose a pre-arranged stock trading plan established by its Chairman & CEO, Richard D. Fain. This plan, designed to comply with Rule 10b5-1, allows for the sale of up to 360,000 shares of common stock between March 2017 and September 2018. The primary stated purpose of this plan is asset diversification for Mr. Fain.
Key Highlights
- 1CEO Richard D. Fain has adopted a pre-arranged stock trading plan.
- 2The plan allows for the sale of up to 360,000 RCL shares.
- 3Sales are scheduled to occur between March 2017 and September 2018.
- 4The plan is designed to comply with Rule 10b5-1 and the company's Securities Trading Policy.
- 5The stated objective is for Mr. Fain to diversify his personal assets.
- 6Following the potential sale of all 360,000 shares, Mr. Fain would still beneficially own approximately 1,040,000 shares.
- 7This remaining ownership includes shares from stock options, RSUs, and performance awards, as well as shares held by family trusts.
Frequently Asked Questions
The filing states that the primary purpose of the stock trading plan is for the CEO, Richard D. Fain, to diversify his personal assets.
The plan allows for the sale of up to 360,000 shares of Royal Caribbean Cruises Ltd. common stock.
The sales are scheduled to occur over a period from March 2017 to September 2018.
Yes, even if all 360,000 shares are sold, Mr. Fain would continue to beneficially own approximately 1,040,000 shares of common stock. This figure includes vested and unvested equity awards and shares held in family trusts.