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.