Fain Richard D 4

What Happened Richard D. Fain, a director of Royal Caribbean Cruises Ltd. (RCL), was granted 831 restricted stock units (RSUs) on May 28, 2026. The Form 4 reports an acquisition at $0.00 per share (total reported acquisition value $0). The RSUs represent shares of common stock that will convert upon vesting.

Key Details

• Transaction date: 2026-05-28. Transaction code: A (award/grant).
• Shares/units granted: 831 RSUs; price reported: $0.00 (total $0 on Form 4).
• Vesting: the shares underlying the RSUs vest the earlier of (i) May 28, 2027, or (ii) the date of the issuer's 2027 Annual Meeting of Shareholders (Footnote F1).
• Beneficial ownership/disclaimers: the filer disclaims beneficial ownership of some or all of these shares (F2). Additional footnotes note shares held by Monument Capital Corporation and The Montana Trust for family beneficiaries (F3, F4).
• Filing timeliness: Form filed 2026-05-29 for a 2026-05-28 transaction (filed within the typical 2-business-day Form 4 window).

Context This was an equity award (RSUs), not an open-market purchase or sale. RSU grants are a form of compensation or retention incentive and only convert to actual shares if and when they vest; they do not represent immediate cash proceeds or an executed sale. The filing does not specify the insider’s total shares owned after vesting — the Form 4 shows the grant details and related footnotes but no post-transaction total beneficial ownership was disclosed.