Bayley Michael W, President and CEO of Royal Caribbean International (RCL), has demonstrated a consistent pattern of selling company stock over the past two years, with no recorded purchases in the same period. According to SEC Form 4 filings, Bayley executed 33 transactions totaling $89 million in sales, all involving RCL shares. The most recent activity occurred on February 13, 2026, when Bayley sold shares across multiple transactions ranging from $106,300 to $4.6 million, part of a broader trend of high-value disposals. The largest single transaction took place on February 10, 2026, with a $22.7 million sale, followed by a $5.2 million sale on February 11, 2025.
The transactions appear concentrated around mid-February in both 2025 and 2026, suggesting a possible structured selling plan. While some sales were relatively small—such as a $427,622 transaction on February 18, 2025—others exceeded $4 million, indicating significant divestment. The filings include several "F" (sale following option exercise) and "A" (award or grant) codes, but no "P" (purchase) codes, reinforcing the sell-side bias. Given the absence of buys and the scale of disposals, Bayley’s trading history reflects a deliberate reduction in RCL holdings rather than periodic rebalancing. The consistency in timing and magnitude suggests adherence to a predetermined schedule rather than opportunistic selling.
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