The sale would facilitate the diversification of Fain's personal assets, according to a filing.
The share sales are subject to specified minimum market prices.
In the event all of the shares are sold and based on his current ownership, Fain would continue to beneficially own approximately 1,040,000 shares of RCL common stock, including approximately 350,000 shares underlying stock option, restricted stock unit and performance share awards granted under equity compensation plans.
This total doesn't include additional shares of common stock owned by trusts primarily for the benefit of members of the Fain family.
RCL closed at $95.93, down 82 cents, on Thursday.