On which dates did the Royal Caribbean (RCL) insider-related sales occur?

The open-market sales tied to Arne Alexander Wilhelmsen–related entities occurred on February 20, 23, and 24, 2026 . Each trading day included multiple sale buckets with separate weighted-average prices disclosed in the accompanying footnotes.

What price ranges were reported for the Royal Caribbean (RCL) share sales?

The filing shows weighted-average sale prices in ranges from lows of about $310.00 per share to highs up to about $320.73 . Each footnote details a specific price band for groups of trades executed by AWILHELMSEN AS.

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

The sales were conducted by AWILHELMSEN AS , an entity associated with director Arne Alexander Wilhelmsen. The filing notes that Wilhelmsen reports the transactions indirectly and disclaims beneficial ownership except to the extent of his pecuniary interest.

Wilhelmsen-linked entities trim 473,548 Royal Caribbean (RCL) shares in sales

Q: Does Arne Alexander Wilhelmsen directly own Royal Caribbean (RCL) shares?

The filing shows a separate direct holding of 7,689 shares of Royal Caribbean common stock. Most of the reported activity relates to indirect holdings through AWILHELMSEN entities, where Wilhelmsen disclaims beneficial ownership except for his pecuniary interest.

Filing Impact

(Very High)

Filing Sentiment

(Very Negative)

Form Type

Rhea-AI Filing Summary

Royal Caribbean Cruises Ltd reported a large insider-related share sale involving entities associated with director Arne Alexander Wilhelmsen. Over several open-market transactions on February 20–24, 2026, AWILHELMSEN AS conducted sales totaling 473,548 shares of Royal Caribbean common stock.

The weighted-average prices disclosed in the footnotes show execution ranges from about $310.00 to $320.73 per share across the different trading buckets. After these indirect transactions, entities linked to Wilhelmsen collectively held about 17.3 million shares, and he expressly disclaims beneficial ownership of these shares except for his pecuniary interest.

Insider Trade Summary

Net Seller: 473,548 shares ($149,441,189)

Net Sell 26 txns

Insider Wilhelmsen Arne Alexander

Role Director

Sold 473,548 shs ($149.44M)

Type	Security	Shares	Price	Value
Sale	Common Stock	9,836	$310.58	$3.05M
Sale	Common Stock	11,540	$311.42	$3.59M
Sale	Common Stock	22,007	$312.56	$6.88M
Sale	Common Stock	34,972	$313.26	$10.96M
Sale	Common Stock	16,020	$314.42	$5.04M
Sale	Common Stock	26,450	$315.67	$8.35M
Sale	Common Stock	121,143	$316.59	$38.35M
Sale	Common Stock	93,423	$317.32	$29.64M
Sale	Common Stock	9,720	$318.30	$3.09M
Sale	Common Stock	20	$310.12	$6K
Sale	Common Stock	3,320	$314.80	$1.05M
Sale	Common Stock	3,640	$315.30	$1.15M
Sale	Common Stock	2,459	$316.85	$779K
Sale	Common Stock	2,722	$317.54	$864K
Sale	Common Stock	1,173	$318.48	$374K
Sale	Common Stock	3,326	$319.41	$1.06M
Sale	Common Stock	2,480	$320.46	$795K
Sale	Common Stock	4,651	$310.54	$1.44M
Sale	Common Stock	3,175	$311.43	$989K
Sale	Common Stock	2,007	$312.33	$627K
Sale	Common Stock	5,516	$313.49	$1.73M
Sale	Common Stock	18,920	$314.56	$5.95M
Sale	Common Stock	63,365	$315.27	$19.98M
Sale	Common Stock	11,397	$316.35	$3.61M
Sale	Common Stock	266	$317.08	$84K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 17,542,792 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 20, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.978. 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 - 24 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 20, 2026. The actual sale prices ranged from a low of $311.00 to a high of $311.975. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $312.01 to a high of $312.9513. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $313.00 to a high of $313.985. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.99. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $315.00 to a high of $315.9975. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $316.00 to a high of $316.99. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 20, 2026. The actual sale prices ranged from a low of $317.00 to a high of $317.13. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $314.62 to a high of $315.01. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $315.20 to a high of $316.00. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $316.26 to a high of $317.1107. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $317.125 to a high of $318.0497. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $318.1656 to a high of $319.12. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $319.14 to a high of $320.1222. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 23, 2026. The actual sale prices ranged from a low of $320.38 to a high of $320.73. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.995. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $311.01 to a high of $311.94. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 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 24, 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 24, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.96. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $315.00 to a high of $315.9942. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $316.00 to a high of $316.9951. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $317.00 to a high of $317.9942. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $318.00 to a high of $318.75. This includes 13,172,258 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 →

02/24/2026 - 05:33 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)
02/20/2026

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	02/20/2026		S		4,651	D	$310.54⁽¹⁾	17,676,414	I	See Footnote
Common Stock	02/20/2026		S		3,175	D	$311.43⁽²⁾	17,673,239	I	See Footnote
Common Stock	02/20/2026		S		2,007	D	$312.33⁽³⁾	17,671,232	I	See Footnote
Common Stock	02/20/2026		S		5,516	D	$313.49⁽⁴⁾	17,665,716	I	See Footnote
Common Stock	02/20/2026		S		18,920	D	$314.56⁽⁵⁾	17,646,796	I	See Footnote
Common Stock	02/20/2026		S		63,365	D	$315.27⁽⁶⁾	17,583,431	I	See Footnote
Common Stock	02/20/2026		S		11,397	D	$316.35⁽⁷⁾	17,572,034	I	See Footnote
Common Stock	02/20/2026		S		266	D	$317.08⁽⁸⁾	17,571,768	I	See Footnote
Common Stock	02/23/2026		S		20	D	$310.12	17,571,748	I	See Footnote
Common Stock	02/23/2026		S		3,320	D	$314.8⁽⁹⁾	17,568,428	I	See Footnote
Common Stock	02/23/2026		S		3,640	D	$315.3⁽¹⁰⁾	17,564,788	I	See Footnote
Common Stock	02/23/2026		S		2,459	D	$316.85⁽¹¹⁾	17,562,329	I	See Footnote
Common Stock	02/23/2026		S		2,722	D	$317.54⁽¹²⁾	17,559,607	I	See Footnote
Common Stock	02/23/2026		S		1,173	D	$318.48⁽¹³⁾	17,558,434	I	See Footnote
Common Stock	02/23/2026		S		3,326	D	$319.41⁽¹⁴⁾	17,555,108	I	See Footnote
Common Stock	02/23/2026		S		2,480	D	$320.46⁽¹⁵⁾	17,552,628	I	See Footnote
Common Stock	02/24/2026		S		9,836	D	$310.58⁽¹⁶⁾	17,542,792	I	See Footnote
Common Stock	02/24/2026		S		11,540	D	$311.42⁽¹⁷⁾	17,531,252	I	See Footnote
Common Stock	02/24/2026		S		22,007	D	$312.56⁽¹⁸⁾	17,509,245	I	See Footnote
Common Stock	02/24/2026		S		34,972	D	$313.26⁽¹⁹⁾	17,474,273	I	See Footnote
Common Stock	02/24/2026		S		16,020	D	$314.42⁽²⁰⁾	17,458,253	I	See Footnote
Common Stock	02/24/2026		S		26,450	D	$315.67⁽²¹⁾	17,431,803	I	See Footnote
Common Stock	02/24/2026		S		121,143	D	$316.59⁽²²⁾	17,310,660	I	See Footnote
Common Stock	02/24/2026		S		93,423	D	$317.32⁽²³⁾	17,217,237	I	See Footnote
Common Stock	02/24/2026		S		9,720	D	$318.3⁽²⁴⁾	17,207,517	I	See Footnote⁽²⁵⁾

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 20, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.978. 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 - 24 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 20, 2026. The actual sale prices ranged from a low of $311.00 to a high of $311.975.

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 20, 2026. The actual sale prices ranged from a low of $312.01 to a high of $312.9513.

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 20, 2026. The actual sale prices ranged from a low of $313.00 to a high of $313.985.

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 20, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.99.

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 20, 2026. The actual sale prices ranged from a low of $315.00 to a high of $315.9975.

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 20, 2026. The actual sale prices ranged from a low of $316.00 to a high of $316.99.

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 20, 2026. The actual sale prices ranged from a low of $317.00 to a high of $317.13.

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 23, 2026. The actual sale prices ranged from a low of $314.62 to a high of $315.01.

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 23, 2026. The actual sale prices ranged from a low of $315.20 to a high of $316.00.

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 23, 2026. The actual sale prices ranged from a low of $316.26 to a high of $317.1107.

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 23, 2026. The actual sale prices ranged from a low of $317.125 to a high of $318.0497.

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 23, 2026. The actual sale prices ranged from a low of $318.1656 to a high of $319.12.

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 23, 2026. The actual sale prices ranged from a low of $319.14 to a high of $320.1222.

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 23, 2026. The actual sale prices ranged from a low of $320.38 to a high of $320.73.

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 24, 2026. The actual sale prices ranged from a low of $310.00 to a high of $310.995.

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 24, 2026. The actual sale prices ranged from a low of $311.01 to a high of $311.94.

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 24, 2026. The actual sale prices ranged from a low of $312.00 to a high of $312.99.

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 24, 2026. The actual sale prices ranged from a low of $313.00 to a high of $313.99.

20. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $314.00 to a high of $314.96.

21. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $315.00 to a high of $315.9942.

22. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $316.00 to a high of $316.9951.

23. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $317.00 to a high of $317.9942.

24. Represents the weighted-average sale price per share of a series of transactions conducted by AWILHELMSEN AS, all of which were executed on February 24, 2026. The actual sale prices ranged from a low of $318.00 to a high of $318.75.

25. This includes 13,172,258 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	02/24/2026
	** 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?

Entities associated with director Arne Alexander Wilhelmsen sold 473,548 shares of Royal Caribbean common stock. These were executed as multiple open-market sales over several days and are reported as indirect transactions in the filing.

How many Royal Caribbean (RCL) shares remain held by entities linked to Wilhelmsen?

After the reported sales, indirectly held Royal Caribbean shares total about 17.3 million. This includes 13,172,258 shares owned by AWILHELMSEN AS and 4,035,259 shares owned by AWILHELMSEN ASSET MANAGEMENT AS, over which AWILHELMSEN AS has voting and disposal power.

Does Arne Alexander Wilhelmsen directly own Royal Caribbean (RCL) shares?

The filing shows a separate direct holding of 7,689 shares of Royal Caribbean common stock. Most of the reported activity relates to indirect holdings through AWILHELMSEN entities, where Wilhelmsen disclaims beneficial ownership except for his pecuniary interest.