What the executives and directors of Norwegian Cruise Line Holdings actually did with their own shares, decoded from three years of SEC Form 4 filings.
The tape: three years of insider trades
Every marker sits at the exact price reported on the Form 4. The line is the monthly median of all prices insiders reported, so the chart needs no market feed; the gray strip is routine flow (vestings, tax withholding, gifts) that headlines love to miscount as selling.
Where the shares went, last 12 months
Every Form 4 movement decomposed: what flowed in (grants, vested equity, purchases) and what flowed out (tax withholding, plan sales, discretionary sales, gifts). Counted in shares, because grants carry no price.
Skin in the game
Directly held shares as reported after each trade, indexed to 100 five years back. Direct holdings only: trust and family-entity positions are per-entity in the filings and do not sum honestly, so this chart refuses to guess. The steps are the trades.
Who holds what
| Insider | Role | Shares held | Buys 12 m | Sales 12 m |
|---|---|---|---|---|
| PAGLIUCA STEPHEN G | Director | 1.4M | $25M | — |
| CHIDSEY JOHN President and CEO | CEO | 1.1M | $2.5M | — |
| Sommer Harry Pres. & CEO of NCLH | CEO | 720.7K | $463K | — |
| Galbut Russell W | Director | 533.7K | — | — |
| Kempa Mark EVP & CFO | CFO | 480.5K | $197K | — |
| Farkas Daniel S EVP GC, CDO & Sec'y | Officer | 424K | — | — |
| Herrera David Pres. NCL | Officer | 271.9K | — | — |
| Dahlgren Patrik See Remarks | Officer | 240.5K | $100K | — |
| Ashby Faye L. SVP & Chief Accounting Officer | Officer | 152.1K | — | $110K |
| Byng-Thorne Zillah | Director | 125.6K | $1M | — |
| David Stella | Director | 116.6K | $130K | — |
| Montague Jason Chief Luxury Officer | Officer | 116.3K | $252K | — |
| Cil Jose E. | Director | 99K | $225K | — |
| DeMarco Andrea Pres. RSSC | Officer | 97.3K | — | — |
Open-market trade log
| Date | Insider | Type | Shares | Price | Value |
|---|---|---|---|---|---|
| 2026-06-02 | PAGLIUCA STEPHEN G (Director) | Open-market buy | 685K | $18.06 | $12.4M |
| 2026-06-01 | PAGLIUCA STEPHEN G (Director) | Open-market buy | 695K | $18.16 | $12.6M |
| 2026-05-22 | CHIDSEY JOHN (CEO) | Open-market buy | 153K | $16.37 | $2.5M |
| 2026-05-20 | COHEN JONATHAN Z (Director) | Open-market buy | 30K | $15.83 | $475K |
| 2026-05-19 | Cil Jose E. (Director) | Open-market buy | 10K | $14.91 | $149K |
| 2026-05-18 | Cil Jose E. (Director) | Open-market buy | 5,000 | $15.25 | $76K |
| 2026-05-11 | MacDonald Brian P (Director) | Open-market buy | 15K | $16.54 | $248K |
| 2026-05-07 | Byng-Thorne Zillah (Director) | Open-market buy | 4,452 | $17.83 | $79K |
| 2026-05-07 | Byng-Thorne Zillah (Director) | Open-market buy | 25K | $17.67 | $442K |
| 2026-05-07 | Lansberry Kevin Allen (Director) | Open-market buy | 11.4K | $17.28 | $197K |
| 2025-12-12 | Ashby Faye L. (Officer) | Discretionary sale | 5,250 | $21.00 | $110K |
| 2025-11-25 | Dahlgren Patrik (Officer) | Open-market buy | 5,550 | $17.94 | $100K |
| 2025-11-07 | Curtis Harry C (Director) | Open-market buy | 5,000 | $19.25 | $96K |
| 2025-11-06 | Montague Jason (Officer) | Open-market buy | 13.4K | $18.81 | $252K |
| 2025-11-06 | Sommer Harry (CEO) | Open-market buy | 25K | $18.52 | $463K |
| 2025-11-06 | David Stella (Director) | Open-market buy | 6,986 | $18.59 | $130K |
| 2025-11-06 | Kempa Mark (CFO) | Open-market buy | 10.6K | $18.53 | $197K |
| 2025-11-06 | Byng-Thorne Zillah (Director) | Open-market buy | 29K | $18.11 | $525K |
| 2024-11-08 | Ashby Faye L. (Officer) | Discretionary sale | 38.3K | $27.30 | $1M |
| 2024-11-06 | Kempa Mark (CFO) | Discretionary sale | 15K | $27.86 | $418K |
| 2024-11-06 | DeMarco Andrea (Officer) | Discretionary sale | 29K | $27.76 | $805K |
| 2024-11-04 | Farkas Daniel S (Officer) | Discretionary sale | 46.8K | $24.72 | $1.2M |
| 2024-11-04 | Sommer Harry (CEO) | Discretionary sale | 100K | $24.67 | $2.5M |
| 2024-11-04 | Byng-Thorne Zillah (Director) | Open-market buy | 7,930 | $24.85 | $197K |
| 2024-08-27 | Farkas Daniel S (Officer) | Discretionary sale | 30K | $18.09 | $543K |
| 2024-08-27 | Sommer Harry (CEO) | Discretionary sale | 25K | $18.09 | $452K |
| 2024-06-05 | Ashby Faye L. (Officer) | Discretionary sale | 19.6K | $18.42 | $361K |
| 2024-05-31 | Byng-Thorne Zillah (Director) | Open-market buy | 13.4K | $16.50 | $220K |
| 2024-05-22 | Cil Jose E. (Director) | Open-market buy | 20K | $16.38 | $328K |
| 2024-03-08 | Kempa Mark (CFO) | Discretionary sale | 20K | $20.01 | $399K |
| 2023-06-15 | Farkas Daniel S (Officer) | Discretionary sale | 38K | $19.46 | $739K |
| 2023-06-13 | Ashby Faye L. (Officer) | Discretionary sale | 15.8K | $19.45 | $308K |
| 2023-06-12 | Del Rio Frank J (CEO) | Discretionary sale | 300K | $18.44 | $5.5M |
| 2023-06-02 | Kempa Mark (CFO) | Discretionary sale | 4,700 | $16.04 | $75K |
| 2022-11-15 | Del Rio Frank J (CEO) | Discretionary sale | 17.9K | $18.34 | $329K |
| 2022-11-15 | Del Rio Frank J (CEO) | Discretionary sale | 40.2K | $18.33 | $736K |
| 2022-11-15 | Kempa Mark (CFO) | Discretionary sale | 25K | $18.54 | $464K |
| 2022-11-14 | Farkas Daniel S (Officer) | Discretionary sale | 44K | $17.93 | $789K |
| 2022-11-10 | Montague Jason (CEO) | Discretionary sale | 32.9K | $16.49 | $542K |
| 2022-09-12 | Montague Jason (CEO) | Discretionary sale | 62.8K | $14.68 | $921K |
| 2022-08-24 | Kempa Mark (CFO) | Discretionary sale | 55K | $13.50 | $743K |
| 2022-08-18 | SHERMAN HOWARD J (CEO) | Discretionary sale | 86.2K | $13.63 | $1.2M |
| 2022-05-23 | Galbut Russell W (Director) | Open-market buy | 50K | $15.00 | $750K |
| 2022-05-23 | Galbut Russell W (Director) | Open-market buy | 50K | $15.25 | $763K |
| 2021-09-09 | Binder Robert (CEO) | Discretionary sale | 7,139 | $24.75 | $177K |
| 2021-09-09 | Binder Robert (CEO) | Discretionary sale | 26.7K | $25.22 | $674K |
| 2021-06-11 | Binder Robert (CEO) | Discretionary sale | 36.6K | $32.14 | $1.2M |
| 2020-12-15 | Binder Robert (CEO) | Discretionary sale | 35.1K | $24.32 | $853K |
| 2020-12-15 | Binder Robert (CEO) | Discretionary sale | 56.4K | $25.04 | $1.4M |
| 2020-02-18 | Del Rio Frank J (CEO) | Discretionary sale | 4,000 | $51.80 | $207K |
| 2020-01-15 | Del Rio Frank J (CEO) | Discretionary sale | 4,000 | $57.50 | $230K |
| 2019-12-16 | Del Rio Frank J (CEO) | Discretionary sale | 1,287 | $55.89 | $72K |
| 2019-12-16 | Del Rio Frank J (CEO) | Discretionary sale | 2,713 | $55.57 | $151K |
| 2019-12-11 | Ashby Faye L. (Officer) | Discretionary sale | 1,786 | $55.57 | $99K |
| 2019-11-15 | Del Rio Frank J (CEO) | Discretionary sale | 4,000 | $52.88 | $212K |
| 2019-11-12 | Stuart Andrew (CEO) | Discretionary sale | 17.8K | $52.00 | $924K |
| 2019-11-12 | Stuart Andrew (CEO) | Discretionary sale | 227.3K | $51.87 | $11.8M |
| 2019-11-11 | Stuart Andrew (CEO) | Discretionary sale | 300 | $52.00 | $16K |
| 2019-10-18 | Del Rio Frank J (CEO) | Discretionary sale | 2,456 | $50.23 | $123K |
| 2019-10-15 | Del Rio Frank J (CEO) | Discretionary sale | 1,544 | $50.05 | $77K |
“Since trade” compares with the latest insider-implied price, not a market quote; this site carries no market data by design.
Filing hygiene
How to read this
A Form 4 transaction code decides everything. P is an open-market purchase and S an open-market sale; those two are the only codes where an insider chose to trade. A is a grant, M an option exercise or vesting, F shares withheld to cover tax, G a gift. Most “insiders dumped billions” headlines are code F and M mechanics.
Sales flagged 10b5-1 run on a plan the insider adopted in advance; since 2023 every Form 4 carries that flag. Buys have historically predicted returns, sales mostly have not, and this page states filings, not advice.