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ROYAL CARIBBEAN CRUISES LTD Director's Dealing 2011

Feb 8, 2011

29893_dirs_2011-02-08_69b97400-b09c-4e16-9581-c20c4040c346.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: ROYAL CARIBBEAN CRUISES LTD (RCL)
CIK: 0000884887
Period of Report: 2011-02-08

Reporting Person: Chico Barbier Gonzalo (President & CEO, Pullmantur)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-02-08 Common Stock A 5684 $0.00 Acquired 97264 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-02-08 Option to Purchase Common Stock $46.18 A 4040 Acquired 2021-02-08 Common Stock (4040) Direct

Footnotes

F1: Represents shares of common stock underlying restricted stock units granted to the reporting person under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan. Award vests in four equal annual installments commencing on the first anniversary of the grant date.

F2: Granted in consideration for service as an executive officer of the issuer.

F3: The reporting person was granted the stock options under the Royal Caribbean Cruises Ltd. 2008 Equity Incentive Plan.

F4: Represents the average of the high and low prices of the issuer's common stock on the NYSE on the date of the grant.

F5: Award vests in four equal annual installments commencing on the first anniversary of the grant date.

F6: The option was granted without payment thereof as compensation for serving as an executive officer of the issuer.