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
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Bayley Michael W

(Last) (First) (Middle)
ROYAL CARIBBEAN CRUISES LTD.
1050 CARIBBEAN WAY

(Street)
MIAMI FL 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)
Director 10% Owner
X Officer (give title below) Other (specify below)
Pres & CEO, Celebrity Cruises
3. Date of Earliest Transaction (Month/Day/Year)
02/15/2014
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)
Code V Amount (A) or (D) Price
Common Stock 02/15/2014 F 453 (1) D $52.08 (2) 56,196 D
Common Stock 02/18/2014 M 9,161 A $38.305 65,357 D
Common Stock 02/18/2014 M 3,953 A $7.265 69,310 D
Common Stock 02/18/2014 M 3,244 A $25.16 72,554 D
Common Stock 02/18/2014 S 16,358 D $52.15 56,196 D
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)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Stock Option (Right to Buy) $38.305 02/18/2014 M 9,161 (3) 02/11/2018 Common Stock 9,161 $0 8,412 D
Stock Option (Right to Buy) $7.265 02/18/2014 M 3,953 (3) 02/10/2019 Common Stock 3,953 $0 3,769 D
Stock Option (Right to Buy) $25.16 02/18/2014 M 3,244 (3) 02/08/2020 Common Stock 3,244 $0 8,067 D
Explanation of Responses:
1. Represents the number of shares of common stock withheld by the issuer to cover the reporting person's tax liability associated with the vesting of 1,657 shares underlying certain restricted stock units on 2/15/2014.
2. Represents the average of the high and low prices for the issuer's common stock on the NYSE on 2/14/2014.
3. Immediately.
Remarks:
Carrie Levine Schwartz, Attorney-in-Fact for Michael W. Bayley 02/18/2014
** 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).
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