How Liberty was paid
$24M in total for 2025, as reported in the Summary Compensation Table. Equity awards are valued at grant, not at what they turned out to be worth.
Named executive officers
| Executive | Salary | Stock | Incentive | Other | Total |
|---|---|---|---|---|---|
| Jason T. LibertyPresident and Chief Executive Officer | $1,396,154 | $15,800,057 | $5,129,600 | $1,653,002 | $23,978,813 |
| Naftali HoltzChief Financial Officer | $946,769 | $3,999,874 | $2,101,537 | $66,028 | $7,114,208 |
| Michael W. BayleyPresident and CEO, Royal Caribbean | $1,154,385 | $5,499,924 | $2,372,340 | $407,578 | $9,434,227 |
| Laura Hodges BethgePresident, Celebrity Cruises | $893,462 | $3,200,054 | $1,715,702 | $142,991 | $5,952,209 |
| Harri U. KulovaaraEVP, Maritime | $932,846 | $1,850,164 | $1,981,711 | $142,924 | $4,907,645 |
What changed and why
- $24MJason T. Liberty total compensation rose to $23,978,813 in 2025 from $19,497,820 in 2024.
- $17.9BTotal revenues reached $17.9 billion and net income was $4.3 billion.
- 33%Adjusted EPS was $15.64, nearly 33% higher than the prior year.
- Performance awards for 2025 were based on Adjusted EPS, ROIC, and carbon intensity.
- The CEO pay ratio was 1260 to 1.
About this page
Figures are automated and can be wrong; check the filing for the exact numbers. Totals follow SEC rules, which value stock and option awards at grant. Read the DEF 14A proxy statement for footnotes and the compensation committee's full reasoning.