secwatch.observer — SEC 8-K summary
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Issuer:     Norwegian Cruise Line Holdings Ltd. (NCLH)
CIK:        0001513761
Form:       8-K
Filed at:   2023-03-20T23:59:59+00:00
Accession:  0001558370-23-004150
Event type: leadership
Sentiment:  neutral
Materiality: 0.70
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

NCLH CEO Frank Del Rio to retire June 30, 2023; Harry Sommer to succeed
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- CEO Frank Del Rio retires June 30, 2023; transition bonus up to $9M based on EBITDA target; consulting fees $2M (2023), $4M/year (2024-2025).
- Harry Sommer becomes CEO-elect Apr 1, 2023, CEO July 1, 2023; base salary $1.1M, target bonus ≥175% of base.
- David Herrera appointed President of Norwegian Cruise Line effective Apr 1, 2023; base salary $750,000.
- Sommer and Herrera receive employment agreements through Dec 31, 2025 with severance equal to 2x base salary plus accelerated equity vesting.
- Del Rio will serve as Senior Advisor through Dec 2025; non-compete restrictions through at least June 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1513761/000155837023004150/0001558370-23-004150-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1513761/000155837023004150/nclh-20230315x8k.htm
  HTML page:      https://secwatch.observer/filing/0001558370-23-004150

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer