Quarterly report pursuant to Section 13 or 15(d)

Employee Benefits and Compensation Plans (Tables)

v3.24.2.u1
Employee Benefits and Compensation Plans (Tables)
6 Months Ended
Jun. 30, 2024
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of summary of restricted share unit activity

Number of

Weighted-

Number of

Weighted-

Time-Based

Average Grant

Performance-

Average Grant

    

Awards

    

Date Fair Value

    

Based Awards

    

Date Fair Value

Non-vested as of January 1, 2024

 

9,083,120

$

17.39

 

2,140,134

$

19.41

Granted

 

4,673,132

19.25

945,040

19.29

Vested

 

(4,292,171)

18.85

(334,888)

31.78

Forfeited or expired

 

(167,226)

17.39

Non-vested as of June 30, 2024

 

9,296,855

17.66

 

2,750,286

17.86

Schedule of compensation expense recognized for share-based compensation

Share Option Awards

The following table sets forth a summary of option activity under NCLH’s Restated 2013 Plan for the six months ended June 30, 2024:

Weighted-

Number of Share Option Awards

Weighted-Average Exercise Price

Average

Aggregate

Time-

Performance-

Time-

Performance-

Contractual

Intrinsic

Based

Based

Based

Based

Term

Value

    

Awards

    

Awards

    

Awards

    

Awards

    

(years)

    

(in thousands)

Outstanding as of January 1, 2024

 

3,524,856

114,583

$

52.98

$

59.43

1.26

$

Forfeited and cancelled

 

(1,011,038)

(114,583)

50.91

59.43

 

  

Outstanding as of June 30, 2024

 

2,513,818

53.81

1.06

The compensation expense recognized for share-based compensation for the periods presented include the following (in thousands):

Three Months Ended

Six Months Ended

June 30, 

June 30, 

    

2024

    

2023

    

2024

    

2023

Payroll and related expense

$

5,077

$

4,876

$

9,691

$

9,333

Marketing, general and administrative expense

 

17,907

 

39,660

 

35,241

 

63,358

Total share-based compensation expense

$

22,984

$

44,536

$

44,932

$

72,691