Holtz Naftali 4
4 · ROYAL CARIBBEAN CRUISES LTD · Filed Feb 12, 2026
Research Summary
AI-generated summary of this filing
Royal Caribbean CFO Naftali Holtz Receives Awards; Shares Withheld
What Happened
Naftali Holtz, CFO of Royal Caribbean Cruises Ltd. (RCL), was granted equity awards and had shares withheld to cover tax liabilities. On 2026-02-10 Holtz was awarded 60,411 performance-share equivalents (acquisition price $0.00) and 5,577 restricted stock units (acquisition price $0.00) — a total of 65,988 shares granted. To satisfy tax withholding on vesting, 23,770 shares were withheld/disposed on 2026-02-10 at $345.40 each for proceeds of $8,210,277, and 713 shares were withheld/disposed on 2026-02-12 at $337.84 each for $240,880. Total shares withheld: 24,483; total value withheld: $8,451,157. These filings reflect awards (acquisitions) and administrative tax-withholding (dispositions), not open-market purchases or voluntary sales.
Key Details
- Transaction dates and prices:
- 02/10/2026: Award of 60,411 performance shares (A) and 5,577 RSUs (A) at $0.00.
- 02/10/2026: 23,770 shares withheld (F) at $345.40 — $8,210,277.
- 02/12/2026: 713 shares withheld (F) at $337.84 — $240,880.
- Shares owned after transaction: Not specified in this Form 4 filing.
- Footnotes: F1 = performance shares under the 2008 Equity Incentive Plan; F3 = RSUs under the same plan; F2 & F4 indicate shares withheld by the issuer to cover the reporting person’s tax liability on vesting.
- Filing timeliness: Report filed 2026-02-12 for transactions on 02/10 and 02/12 — within the standard two-business-day reporting window (not marked late).
Context
- The grants (performance shares and RSUs) are compensation awards and show long-term equity issuance to the CFO; they have an acquisition price of $0.00 because they vest rather than being bought.
- The disposals labeled “F” are issuer withholding of shares to cover tax obligations on vesting (a cashless withholding), not indicative of an open-market sale or change in conviction.
- For retail investors: awards are routine executive compensation; tax-withholding dispositions are administrative. There were no open-market purchases or voluntary sales reported here.
Insider Transaction Report
- Award
Common Stock
[F1]2026-02-10+60,411→ 98,903 total - Tax Payment
Common Stock
[F2]2026-02-10$345.40/sh−23,770$8,210,277→ 75,133 total - Award
Common Stock
[F3]2026-02-10+5,577→ 80,710 total - Tax Payment
Common Stock
[F4]2026-02-12$337.84/sh−713$240,880→ 79,997 total
Footnotes (4)
- [F1]Represents shares of common stock underlying performance shares granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended.
- [F2]Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain performance shares on 02/10/2026.
- [F3]Represents shares of common stock underlying restricted stock units granted pursuant to the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan, as amended.
- [F4]Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of shares underlying certain restricted stock units on 02/12/2026.