Royal Caribbean CEO Sells $29.7M RCL — 4 Insiders Dump $74M

Four Royal Caribbean insiders sold a combined $74.1 million in RCL stock on February 13, 2026 — one of the largest coordinated insider selling events of the year. CEO Jason T. Liberty led with $29.7 million, followed closely by President Michael W. Bayley at $26.2 million.

$74 Million in a Single Day

Insider	Title	Transactions	Value	Shares After	Career Sales
Jason T. Liberty	President & CEO	11	$29.71M	218,822	$35.2M
Michael W. Bayley	Pres. & CEO, Royal Caribbean Intl	11	$26.15M	58,108	$55.7M
Naftali Holtz	Chief Financial Officer	11	$16.74M	28,116	$5.6M
Henry L. Pujol	Chief Accounting Officer	1	$1.46M	10,067	$12.7M
Total: 4 insiders, 34 transactions			$74.06M

CEO Liberty: $29.7M, Largest Single-Day Sale

Jason Liberty sold across 11 transactions at prices ranging from $327 to $332 per share. This $29.7M sale nearly doubles his career selling total to $35.2 million — meaning most of his lifetime insider sales happened on this single day. He retains 218,822 shares worth approximately $72 million, maintaining meaningful alignment.

President Bayley: $55.7M Career Seller

Michael Bayley, who runs the Royal Caribbean International brand, sold $26.15M and was left with 58,108 shares (~$19M). His career selling total of $55.7 million is the highest among the four sellers, and his Feb 13 sale reduced his position by approximately 60%.

CFO Holtz: $16.7M — 3x His Career Prior

CFO Naftali Holtz sold $16.74 million — nearly tripling his previous career total of $5.6 million in a single day. He retained 28,116 shares (~$9.3M), meaning he now holds less than what he sold. For a CFO, this level of position reduction is particularly notable — this is the person who prepares the financial statements.

All at ~$330: Near All-Time Highs

RCL was trading near $330 per share on Feb 13, close to its all-time highs. The cruise industry has benefited from strong post-pandemic leisure spending, and Royal Caribbean has been one of the best-performing travel stocks. The four insiders appear to have collectively decided that $330 was the right level to monetize a significant portion of their holdings.

$74.1M in one day — among the largest coordinated insider sells of 2026
CEO sold 85% of career total in one shot — $29.7M of $35.2M lifetime
CFO tripled career sales — $16.7M versus $5.6M prior
President Bayley down 60% — from ~$45M position to ~$19M
34 total transactions — executed methodically through the trading day

What It Means

When the CEO, brand president, CFO, and CAO all sell on the same day for a combined $74 million, the market should pay attention. Royal Caribbean has been a market darling in the post-COVID travel recovery — but the people who run the company chose this price to take very significant money off the table.

The timing near all-time highs amplifies the signal. These insiders have visibility into forward bookings, pricing trends, and cost pressures that outside investors don't. Their collective decision to sell $74M worth of stock at $330 per share is a data point worth weighing.