CHIDSEY JOHN 4

What Happened

• John Chidsey, President & CEO and Director of Norwegian Cruise Line Holdings Ltd. (NCLH), received equity awards on March 26, 2026. The filing shows a grant of 967,254 restricted share units (RSUs) and 1,172,638 performance‑based restricted share units (PSUs). Both awards were granted at $0.00 (i.e., as compensation awards), so the reported acquisition value is $0 in the Form 4.
• Combined, the awards represent a target of 2,139,892 RSU/PSU units; the PSUs are derivative/contingent and the final number of shares delivered may range from zero to two ordinary shares per PSU depending on performance.

Key Details

• Transaction date: 2026-03-26; Form 4 filed 2026-03-27 (filed the next day).
• Transaction code: A = Award/Grant. Price per unit reported $0.00.
• Time‑based RSUs: 967,254 units vest in four equal installments on March 1 of 2027, 2028, 2029 and 2030, subject to continued employment.
• Performance RSUs (1,172,638 units, reported at target): each PSU can pay 0–2 ordinary shares depending on NCLH’s total shareholder return (TSR) compound annual growth rate for the performance period ending 12/31/2029; vesting is subject to continued employment.
• Shares owned after the transaction: not specified in the provided filing excerpt.
• No evidence of a sale, exercise, tax withholding, or 10b5-1 plan in this filing — this is an equity compensation grant.

Context

• RSUs are time‑based compensation that convert to shares on vesting; PSUs are performance‑based and may result in more or fewer shares depending on TSR results. These grants are typical executive compensation and do not represent an open‑market purchase or sale.
• Because PSUs are contingent on future performance, the ultimate dilution and share issuance depend on both achievement of goals and continued employment through vesting.