Who executed the Royal Caribbean (RCL) share sales reported in this Form 4?

The sales were conducted by AWILHELMSEN AS , as described in the footnotes. The Form 4 is filed for director Arne Alexander Wilhelmsen, who reports indirect ownership through AWILHELMSEN AS and AWILHELMSEN ASSET MANAGEMENT AS, subject to a beneficial ownership disclaimer.

How are AWILHELMSEN AS and AWILHELMSEN ASSET MANAGEMENT AS related to Royal Caribbean (RCL) ownership?

AWILHELMSEN AS owns 12,400,651 RCL shares and AWILHELMSEN ASSET MANAGEMENT AS owns 4,035,259 RCL shares . AWILHELMSEN AS has the power to vote and dispose of the latter’s shares under an agreement between the parties, according to the footnotes.

What price information is provided for the Royal Caribbean (RCL) share sales?

The filing lists weighted‑average sale prices for multiple transactions by AWILHELMSEN AS. Footnotes explain that actual trade prices fell within specified ranges on each date, such as $312.70–$313.698 and $320.135–$320.9625 per share.

771,607 Royal Caribbean (RCL) shares sold by AWILHELMSEN AS entity

Q: How many Royal Caribbean (RCL) shares were sold in this Form 4?

The Form 4 reports open‑market sales totaling 771,607 shares of Royal Caribbean common stock. These sales occurred over February 25–27, 2026, and were executed by AWILHELMSEN AS, an entity associated with director Arne Alexander Wilhelmsen.

Q: What Royal Caribbean (RCL) holdings remain after these reported sales?

After the reported transactions, the filing shows 16,435,910 shares indirectly held and 7,689 shares held directly. The indirect amount includes 12,400,651 shares owned by AWILHELMSEN AS and 4,035,259 shares owned by AWILHELMSEN ASSET MANAGEMENT AS.

Q: Does Arne Alexander Wilhelmsen claim full beneficial ownership of the Royal Caribbean (RCL) shares?

The Form 4 states that the reporting person disclaims beneficial ownership of the shares held by AWILHELMSEN AS and AWILHELMSEN ASSET MANAGEMENT AS, except to the extent of his pecuniary interest in those shares, as described in the footnotes.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd director-linked entities report large share sales. Over February 25–27, 2026, AWILHELMSEN AS conducted open‑market sales totaling 771,607 shares of Royal Caribbean common stock, according to a Form 4 filed for director Arne Alexander Wilhelmsen.

After these transactions, 16,435,910 shares are reported as indirectly held, including 12,400,651 shares owned by AWILHELMSEN AS and 4,035,259 shares owned by AWILHELMSEN ASSET MANAGEMENT AS. The filing also shows 7,689 shares held directly. The reporting person disclaims beneficial ownership of the indirectly held shares except to the extent of his pecuniary interest.

Insider Trade Summary

Net Seller: 771,607 shares ($243,570,580)

Net Sell 20 txns

Insider Wilhelmsen Arne Alexander

Role Director

Sold 771,607 shs ($243.57M)

Type	Security	Shares	Price	Value
Sale	Common Stock	152,515	$310.78	$47.40M
Sale	Common Stock	21,280	$311.22	$6.62M
Sale	Common Stock	31,560	$312.53	$9.86M
Sale	Common Stock	25,910	$313.48	$8.12M
Sale	Common Stock	14,211	$314.40	$4.47M
Sale	Common Stock	7,271	$315.62	$2.29M
Sale	Common Stock	20,617	$316.92	$6.53M
Sale	Common Stock	106,947	$317.71	$33.98M
Sale	Common Stock	156,628	$318.64	$49.91M
Sale	Common Stock	50,784	$319.54	$16.23M
Sale	Common Stock	13,779	$320.35	$4.41M
Sale	Common Stock	42,240	$313.01	$13.22M
Sale	Common Stock	13,271	$314.11	$4.17M
Sale	Common Stock	9,724	$315.16	$3.06M
Sale	Common Stock	24,360	$316.24	$7.70M
Sale	Common Stock	42,351	$317.33	$13.44M
Sale	Common Stock	33,418	$318.08	$10.63M
Sale	Common Stock	4,637	$318.87	$1.48M
Sale	Common Stock	104	$320.04	$33K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 16,528,871 shares (Indirect, See Footnote); Common Stock — 7,689 shares (Direct)

Footnotes (1)

Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $312.70 to a high of $313.698. The reporting person undertakes to provide upon request of the SEC Staff or a Royal Caribbean Cruises Ltd. security holder full information regarding the number of shares sold at each price within the ranges set forth in footnotes 1 - 19 to this Form 4. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $313.7043 to a high of $314.64. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $314.74 to a high of $315.65. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $315.715 to a high of $316.68. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $316.73 to a high of $317.69. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $317.70 to a high of $318.6902. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $318.70 to a high of $319.63. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $319.8235 to a high of $320.5788. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $315.115 to a high of $316.11. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $316.12 to a high of $317.11. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $317.1189 to a high of $318.1149. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $318.115 to a high of $319.11. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $319.115 to a high of $320.11. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $320.135 to a high of $320.9625. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.9981. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $311.00 to a high of $311.9975. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $312.00 to a high of $312.99. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $313.00 to a high of $313.99. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.87. This includes 12,400,651 shares of RCL stock owned by AWILHELMSEN AS and 4,035,259 shares of RCL stock owned by AWILHELMSEN ASSET MANAGEMENT AS. AWILHELMSEN AS has the power to vote and dispose of the shares owned by AWILHELMSEN ASSET MANAGEMENT AS pursuant to an agreement between the parties. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

Form 4 Insider Transactions: What Each Field Means →

02/27/2026 - 05:01 PM

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Wilhelmsen Arne Alexander

(Last)

(First)

(Middle)

C/O ROYAL CARIBBEAN CRUISES LTD.

1050 CARIBBEAN WAY

(Street)

MIAMI

33132

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
ROYAL CARIBBEAN CRUISES LTD [ RCL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	10% Owner
	Officer (give title below)	Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock								7,689	D
Common Stock	02/25/2026		S		42,240	D	$313.01⁽¹⁾	17,165,277	I	See Footnote
Common Stock	02/25/2026		S		13,271	D	$314.11⁽²⁾	17,152,006	I	See Footnote
Common Stock	02/25/2026		S		9,724	D	$315.16⁽³⁾	17,142,282	I	See Footnote
Common Stock	02/25/2026		S		24,360	D	$316.24⁽⁴⁾	17,117,922	I	See Footnote
Common Stock	02/25/2026		S		42,351	D	$317.33⁽⁵⁾	17,075,571	I	See Footnote
Common Stock	02/25/2026		S		33,418	D	$318.08⁽⁶⁾	17,042,153	I	See Footnote
Common Stock	02/25/2026		S		4,637	D	$318.87⁽⁷⁾	17,037,516	I	See Footnote
Common Stock	02/25/2026		S		104	D	$320.04⁽⁸⁾	17,037,412	I	See Footnote
Common Stock	02/26/2026		S		7,271	D	$315.62⁽⁹⁾	17,030,141	I	See Footnote
Common Stock	02/26/2026		S		20,617	D	$316.92⁽¹⁰⁾	17,009,524	I	See Footnote
Common Stock	02/26/2026		S		106,947	D	$317.71⁽¹¹⁾	16,902,577	I	See Footnote
Common Stock	02/26/2026		S		156,628	D	$318.64⁽¹²⁾	16,745,949	I	See Footnote
Common Stock	02/26/2026		S		50,784	D	$319.54⁽¹³⁾	16,695,165	I	See Footnote
Common Stock	02/26/2026		S		13,779	D	$320.35⁽¹⁴⁾	16,681,386	I	See Footnote
Common Stock	02/27/2026		S		152,515	D	$310.78⁽¹⁵⁾	16,528,871	I	See Footnote
Common Stock	02/27/2026		S		21,280	D	$311.22⁽¹⁶⁾	16,507,591	I	See Footnote
Common Stock	02/27/2026		S		31,560	D	$312.53⁽¹⁷⁾	16,476,031	I	See Footnote
Common Stock	02/27/2026		S		25,910	D	$313.48⁽¹⁸⁾	16,450,121	I	See Footnote
Common Stock	02/27/2026		S		14,211	D	$314.4⁽¹⁹⁾	16,435,910	I	See Footnote⁽²⁰⁾

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $312.70 to a high of $313.698. The reporting person undertakes to provide upon request of the SEC Staff or a Royal Caribbean Cruises Ltd. security holder full information regarding the number of shares sold at each price within the ranges set forth in footnotes 1 - 19 to this Form 4.

2. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $313.7043 to a high of $314.64.

3. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $314.74 to a high of $315.65.

4. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $315.715 to a high of $316.68.

5. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $316.73 to a high of $317.69.

6. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $317.70 to a high of $318.6902.

7. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $318.70 to a high of $319.63.

8. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 25, 2026. The actual sale prices ranged from a low of $319.8235 to a high of $320.5788.

9. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $315.115 to a high of $316.11.

10. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $316.12 to a high of $317.11.

11. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $317.1189 to a high of $318.1149.

12. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $318.115 to a high of $319.11.

13. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $319.115 to a high of $320.11.

14. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 26, 2026. The actual sale prices ranged from a low of $320.135 to a high of $320.9625.

15. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.9981.

16. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $311.00 to a high of $311.9975.

17. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $312.00 to a high of $312.99.

18. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $313.00 to a high of $313.99.

19. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 27, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.87.

20. This includes 12,400,651 shares of RCL stock owned by AWILHELMSEN AS and 4,035,259 shares of RCL stock owned by AWILHELMSEN ASSET MANAGEMENT AS. AWILHELMSEN AS has the power to vote and dispose of the shares owned by AWILHELMSEN ASSET MANAGEMENT AS pursuant to an agreement between the parties. The reporting person disclaims beneficial ownership of these shares, except to the extent of his pecuniary interest therein.

Remarks:

	/s/ Indira Sordo, Attorney-in-Fact for Arne Alexander Wilhelmsen	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

How many Royal Caribbean (RCL) shares were sold in this Form 4?

The Form 4 reports open‑market sales totaling 771,607 shares of Royal Caribbean common stock. These sales occurred over February 25–27, 2026, and were executed by AWILHELMSEN AS, an entity associated with director Arne Alexander Wilhelmsen.

What Royal Caribbean (RCL) holdings remain after these reported sales?

After the reported transactions, the filing shows 16,435,910 shares indirectly held and 7,689 shares held directly. The indirect amount includes 12,400,651 shares owned by AWILHELMSEN AS and 4,035,259 shares owned by AWILHELMSEN ASSET MANAGEMENT AS.

Does Arne Alexander Wilhelmsen claim full beneficial ownership of the Royal Caribbean (RCL) shares?

The Form 4 states that the reporting person disclaims beneficial ownership of the shares held by AWILHELMSEN AS and AWILHELMSEN ASSET MANAGEMENT AS, except to the extent of his pecuniary interest in those shares, as described in the footnotes.