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Royal Caribbean CEO Richard Fain Nets $6.2M in Stock Sale - cbl
By citybizlist Staff
MIAMI -- Chairman and CEO Richard Fain sold Royal Caribbean Cruises Ltd. (NYSE: RCL) stock worth $9.13 million, adding to sales of more than $3 million over the past three months, according to Form 4 insider-trade filings with the U.S. Securities and Exchange Commission.
Fain sold a total of 297,000 shares in the Miami-based organizer of cruises at an average price of $30.74 apiece. The sale Friday came after he exercised that same amount in stock options at $9.90 each, for a net of $6.19 million.
Fain still owns 571,659 shares worth an estimated $17.47 million, based on the stock's closing price today of $30.56.
Form 4 filings:
http://tinyurl.com/ykq8m33
http://tinyurl.com/yz2ko5d
Management bio from Royal Caribbean's Web site:
Richard D. Fain
Chairman & Chief Executive Officer
Richard D. Fain is Chairman and Chief Executive Officer of Royal Caribbean Cruises Ltd., the global cruise company operating 38 ships under the Celebrity Cruises, Royal Caribbean International, Pullmantur, Azamara Cruises and CDF Croisières de France brands.
Fain joined Royal Caribbean in 1979 as an outside director on the company's Board of Directors. He became the cruise line's Chairman and CEO in 1988. Prior to joining Royal Caribbean, Fain spent 13 years as treasurer, chief financial officer and joint managing director of Gotaas-Larsen Shipping Corp., a London-based owner and operator of cargo ships.
Fain is a member of the National Conference for Community and Justice, and serves on the World Wildlife Fund's National Council, the Florida Council of 100 and the University of Miami's Board of Trustees. In addition, he serves on the executive committee of the United Way of Miami-Dade County.
Fain is a former chair of the Miami Business Forum, the Greater Miami Convention and Visitors Bureau and of the Cruise Lines International Association (CLIA), an industry trade association representing nearly 17,000 affiliated travel agencies and the bulk of the world's cruise lines. He has also served as co-chair of the United Way Campaign of Miami-Dade County and as chair of the POW WOW Host Committee in Miami.
In 2004, Fain received the Ultimate CEO Award from the South Florida Business Journal and accepted the Ellis Island Medal of Honor from the National Ethnic Coalition Organization. He was inducted into the South Florida Business Hall of Fame in October 2004.
Fain was presented one of France's most distinguished awards, the Chevalier de la Légion d'Honneur (French Legion of Honor), and was named Commander, First Class, of the Order of the Lion by Finland. In addition to being the recipient of the Anti-Defamation League's 2000 Distinguished Community Service award, he was named the 1999 Statesman of the Year by the Wharton School Club of South Florida, as well as the 1998 Humanitarian of the Year by the American Red Cross of Greater Miami and the Keys.
Fain holds a B.S. degree in economics from the University of California at Berkeley and a M.B.A. from the Wharton School of Business at the University of Pennsylvania. Fain and his wife, Colleen, have four children and reside in Miami-Dade County, Florida.
Posted Mar 15, 2010
