UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549
FORM
CURRENT REPORT
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Item 8.01. Other Events.
Reduction in Base Compensation of Corporate Officers
Effective as of April 1, 2020, Richard Fain, the Chairman and Chief Executive Officer of the Company, agreed to forego payment of his base salary and Jason Liberty, Executive Vice President, Chief Financial Officer, Michael Bayley, President and CEO, Royal Caribbean International and Lisa Lutoff-Perlo, President and CEO, Celebrity Cruises, each elected to reduce their respective base salaries by 25%, in each case, through September 30, 2020. These reductions were made in light of the COVID-19 pandemic and the negative financial and operational impacts resulting therefrom.
Reduction in Annual Retainers for the Board of Directors
In light of the COVID-19 pandemic and the negative financial and operational impacts resulting therefrom, the Board of Directors approved to forego all cash retainers and fees payable for Board and committee service, effective from April 1, 2020 through September 30, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| ROYAL CARIBBEAN CRUISES LTD. | ||
| Date: April 1, 2020 | By: | /s/ Bradley H. Stein |
| Name: | Bradley H. Stein | |
| Senior Vice President, General Counsel & Secretary | ||