COO Goldstein Sells Over $14,000,000 in Royal Caribbean Stock

Richard Fain Adam Goldstein Royal Caribbean CruisesRoyal Caribbean President and Chief Operating Officer (COO) Adam Goldstein (photo, to the right) sold 120,000 shares of his company's cruise stock on August 2 and 3, 2017.  The stock was sold at an average price of $118.21 for a total sale of $14,185,200.00, according to the SEC.  

This follows the sale of RCL stock by CEO Richard Fain earlier in the week, where he collected $24,406,075.98. Cruise executives Goldstein and Fain, who often sell big blocks of company stock in tandem like this, together sold over $38,500,000 in RCL stock last week. 

Following the sale, COO Goldstein still owns 191,252 shares of RCL stock, valued at $22,607,898.92. The sale was disclosed in a document filed with the SEC

After the sales last week, Mr. Goldstein and Mr. Fain now own over $134,000,000 of RCL stock.

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Photo credit: Royal Caribbean press center.

CEO Fain Rakes In Over $24,000,000 In Sale Of RCCL Stock

Royal Caribbean Richard FainRoyal Caribbean chief executive officer Richard D. Fain sold 210,706 shares of his cruise line stock in a transaction on Wednesday, August 2, 2017 at an average price of $115.83, for a total value of $24,406,075.98.

Mr. Fain was last in the news in April when a filing with the Securities and Exchange Commission reflected that his total compensation last year was in the amount of $10,400,000.

Maritime Executive recently reported that Royal Caribbean's income for the second quarter reached $370 million, the highest second quarter earnings in company history. The cruise line's financial performance, the maritime journal wrote, "vindicates Fain's prediction that 2017 would shape up to be a 'sensational year.'"

Following the stock sale, CEO Fain reportedly now owns 967,741 shares of his company’s stock, valued at $112,093,440.03. 

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Interested in this issue? Read Cruise Executive Richard Fain Hits the Jackpot Again.

Photo Credit: CNBC

Cruise CEO Fain Bails On Royal Caribbean Stock For Over $11,500,000

Barron's reports that Royal Caribbean Cruises' top executive recently bailed out on a large block of cruise line stock just before the cruise line's shares touched a new 52-week intra-day high.

On December 13th Chairman and Chief Executive Officer Richard Fain sold 143,140 shares of RCL stock for $4,964,095, an average of $34.68 each. Barron's says that Fain followed up by exercising options and selling 188,443 shares for $6,535,203. 

The RCL stock is down over a point since CEO Fain bailed on the stock. Fain still holds 1,049,064 shares directly and 421,412 shares indirectly.

The last time we wrote about RCL's CEO was when he and other executives at the cruise line were sued for fraud for allegedly making false and misleading statements about the company's fourth quarter results for 2010. In January 2011, the day after touting the financial strength of the cruise line, CEO Fain sold 200,000 shares at a price of $46.63 for what the lawsuit alleges were total illicit proceeds of $9,326,000.  

Big bucks and cruise CEO's go hand in hand, irrespective of how the cruise industry is actually faring. A couple of weeks ago we wrote about Carniva's Micky Arison paying himself a bonus of $90,000,000 after what he describes as one of the one most challenging years for the cruise lines yet. 

Royal Caribbean Cruises CEO Richard Fain

January 4 2013 Update: The issue of cruise line executive compensation made our list of top ten stories for last year:

2012 was reportedly a difficult financial year for the cruise lines but you would never know it by looking at the huge sums of money, bonuses and stock options which the cruise line CEO's pay themselves. In contrast Fain' with his regular multi-million-dollar salary and the $11,500,000 from stock sales, Royal Caribbean's bar-servers were paid only $50 a month and required to work for tips carrying a dozen tropical drinks around the pool deck while balancing a bottle of rum on their heads

 

Photo Credit: Wall Street Journal Smart Money / by Jeffrey Salter / Redux