RCL chief Fain's compensation rises to $10.4m

The value of Richard Fain's compensation rose to $10.4m, up from $9.4m in 2015 The value of Richard Fain's compensation rose to $10.4m, up from $9.4m in 2015

Royal Caribbean Cruises Ltd. chairman and ceo Richard Fain's 2016 compensation rose to a total of $10.4m, up from $9.4m in 2015.

This included a salary of nearly $1.1m, stock awards valued at $6.4m and $2.7m in non-equity incentive compensation. $131,400 in other compensation included life insurance, retirement plans and benefit payouts.

Adam Goldstein, president and chief operating officer, received compensation valued at $4m, up from $3.8m. His salary was $823,000. Stock awards were valued at nearly $1.8m and non-equity incentive compensation was more than $1.3m, with other compensation of $103,200.

Michael Bayley, president and ceo of Royal Caribbean International, had compensation worth more than $3.8m, up from $3.2m. His salary was $696,000, stock awards were worth $2.1m, and he received non-equity incentive compensation of $938,000. Other compensation was $107,000.

CFO Jason Liberty received compensation valued at $2.6m, up from $2m. His salary was $592,000, stock awards were valued at $1.1m and his non-equity incentive compensation was $798,000, while other compensation was $88,500.

Compensation for Lisa Lutoff-Perlo, president and ceo of Celebrity Cruises, who became a named officer for the first time last year, was $2.3m. Her salary was $546,000, stock awards were valued at $1m and her non-equity incentive compensation was $640,000. Lutoff-Perlo also received $92,000 in other compensation.

The executive compensation was outlined in a proxy ahead of RCL's annual shareholders meeting, scheduled for May 22 in Miami.

Other matters for consideration at the meeting include the re-election of the company's 12 directors.

Posted 20 April 2017

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Anne Kalosh

US editor of Seatrade Cruise Review and Seatrade Cruise News

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