V
Velarion™Intelligence
Sign InFree TrialBook a Walkthrough
Gaming & Lodging

Norwegian Cruise Line Holdings Executive Compensation (FY25)

NCLH · Miami, FL · Executive and director compensation, fiscal 2022 to 2025
Median of the other named officers
$4,409,380
5 officers, excluding the chief executive
Latest say-on-pay support
=
June 11, 2026
Chief executive pay ratio
◇
To the median employee
Velarion Member: every covered company in Gaming & Lodging, with dashboards, peer screens and board-ready briefs. Three seats, one year.
Email me this page as a cited PDF — sent in 2 minutes
The same figures, the same citations, formatted to hand to a committee. Nothing is added that is not on this page.
Your address is used for this and nothing else. Unsubscribe in one click.

The paid brief on Norwegian Cruise Line Holdings

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
Data as of October 21, 2026Latest filing (8-K): June 16, 2026
17 filings cited on this page
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Norwegian Cruise Line Holdings brief$1,500Get the executive brief
Velarion Member, one year
328 figures on this page: 317 cited to the filing that reported them, 11 calculated from figures it prints. See the citations

More on Norwegian Cruise Line Holdings

Five data products on this company. Each one is requested through the developer setup page.
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Harry Sommer: $12,811,659 → $13,752,560 (7.3% higher)
Say-on-pay support: 96.7% → 86.0% (10.7 points lower)
CEO pay ratio: 550:1 → 530:1 (3.6% lower)

Frequently asked questions

Answers drawn from the data on this page.
What was Norwegian Cruise Line Holdings' say-on-pay result?
The say-on-pay proposal drew 86.0% of votes cast for or against in favor at the meeting held June 11, 2026 for fiscal 2025.
Which companies are in Norwegian Cruise Line Holdings' peer group?
The disclosed peer group includes Alaska Air Group, Inc., Boyd Gaming Corporation, Caesars Entertainment, Inc., Carnival Corporation & plc and Host Hotels & Resorts, Inc., among others.
What is Norwegian Cruise Line Holdings' chief executive pay ratio?
The disclosed chief executive pay ratio for fiscal 2025 is 530:1, against median employee compensation of $25,954.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frank Rio
President and Chief Executive Officer
◇—◇—◇—◇◇
Howard Sherman
Former President and Chief Executive Officer, Oceania Cruises
Departed during or after this year
◇◇◇—◇—◇◇
Jason Montague
Former President and Chief Executive Officer, Regent
Departed during or after this year
◇◇◇—◇—◇◇
Harry Sommer
Former President and Chief Executive Officer, Norwegian Current President and Chief Executive Officer – Elect
Departed during or after this year
◇—◇—◇—◇◇
Mark Kempa
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Frank Del Rio
President and Chief Executive Officer
◇—◇—◇—◇◇
Harry Sommer
Former President and Chief Executive Officer, Norwegian Current President and Chief Executive Officer Elect
Departed during or after this year
◇◇◇—◇—◇◇
Patrik Dahlgren
Executive Vice President, Chief Vessel Operations and Newbuild Officer
◇◇◇—◇—◇◇
Mark Kempa
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
T. Robin Lindsay
Former Executive Vice President, Vessel Operations
Departed during or after this year
◇◇◇—◇—◇◇
Daniel Farkas
Executive Vice President, General Counsel, Chief Development Officer and Secretary
◇◇◇—◇—◇◇
David Herrera
Former President, Norwegian Cruise Line
◇—◇—◇—◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Harry Sommer
President and Chief Executive Officer
◇◇◇—◇—◇◇
Frank Del Rio
Former President and Chief Executive Officer
Departed during or after this year
◇———◇—◇◇
Mark Kempa
Executive Vice President and Chief Financial Officer
◇◇◇—◇—◇◇
Daniel Farkas
Executive Vice President, General Counsel, Chief Development Officer and Secretary
◇◇◇—◇—◇◇
Patrik Dahlgren
Executive Vice President, Chief Vessel Operations and Newbuild Officer
◇—◇—◇—◇◇
David Herrera
President, Norwegian Cruise Line
◇—◇—◇—◇◇
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Harry Sommer
Former President and Chief Executive Officer
Departed during or after this year
◇—◇—◇—◇◇
David Herrera
Former President, Norwegian Cruise Line
Departed during or after this year
◇—◇—◇—◇◇
Patrik Dahlgren
Executive Vice President, Chief Vessel Operations and Newbuild Officer
◇—◇—◇—◇◇
Mark Kempa
Executive Vice President and Chief Financial Officer
◇—◇—◇—◇◇
Jason Montague
Chief Luxury Officer
◇—◇—◇—◇◇
Daniel Farkas
Executive Vice President, General Counsel, Chief Development Officer and Secretary
◇—◇—◇—◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Daniel S. FarkasRSU◇——◇——◇
Daniel S. FarkasPSU◇◇◇—◇—◇
David HerreraRSU◇——◇——◇
David HerreraPSU◇◇◇—◇—◇
Harry SommerRSU◇——◇——◇
Harry SommerPSU◇◇◇—◇—◇
Jason MontagueRSU◇——◇——◇
Jason MontaguePSU◇◇◇—◇—◇
Mark A. KempaRSU◇——◇——◇
Mark A. KempaPSU◇◇◇—◇—◇
Patrik DahlgrenRSU◇——◇——◇
Patrik DahlgrenPSU◇◇◇—◇—◇
Fiscal 2022, 2024 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Patrik DahlgrenRSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Daniel FarkasRSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
Mark KempaRSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
Harry SommerRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
Jason MontaguePSU◇◇——
RSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Harry Sommer
Former President and Chief Executive Officer · Employment agreement
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Mark Kempa
Executive Vice President and Chief Financial Officer · Employment agreement
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Equity acceleration on change in control◇
Benefits continuation on change in control◇
Benefits continuation◇
Excise tax treatment◇
Non-compete period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Stella David
◇◇————◇
Jos E. Cil
◇◇————◇
Mary E. Landry
◇◇————◇
Zillah Ellen Byng-Thorne
◇◇————◇
Harry C. Curtis
◇◇————◇
David M. Abrams
◇◇————◇
John W. Chidsey
Board chair
◇◇————◇
Linda P. Jojo
◇◇————◇
Alex Cruz, Stephen G. Pagliuca, Kevin A. Lansberry, Brian P. MacDonald, Jonathan Z. Cohen and Harry Sommer served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Board chair premium◇
Audit committee chair◇
Audit committee member◇
Compensation committee chair◇
Compensation committee member◇
Nominating and governance chair◇
Nominating and governance member◇
Equity is delivered as restricted stock units.
Stock ownership guideline: 3x annual cash retainer

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • Alaska Air Group, Inc. ALK
  • Boyd Gaming Corporation BYD
  • Caesars Entertainment, Inc. CZR
  • Carnival Corporation & plc CCL
  • Host Hotels & Resorts, Inc. HST
  • Hyatt Hotels Corporation H
  • JetBlue Airways Corporation JBLU
  • Las Vegas Sands Corp. LVS
  • Marriott Vacations Worldwide Corporation VAC
  • MGM Resorts International MGM
  • Park Hotels & Resorts Inc. PK
  • Penn Entertainment, Inc. PENN
  • Royal Caribbean Cruises Ltd. RCL
  • Spirit Airlines, Inc. SAVE
  • Travel + Leisure Co. TNL
  • Vail Resorts, Inc. MTN
  • Wynn Resorts, Limited WYNN
  • Yum! Brands, Inc. YUM

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025June 11, 2026=◇◇◇
2024June 12, 2025=◇◇◇
2023June 13, 2024=◇◇◇
2022June 15, 2023=◇◇◇
2021June 16, 2022=◇◇◇
2020May 20, 2021=◇◇◇
2019June 18, 2020=◇◇◇
2018June 13, 2019=◇◇◇
2017June 20, 2018=◇◇◇
2016May 25, 2017=◇◇◇
2015May 19, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

Velarion Pro: every company page, peer tools and exports, one seat

One seat, one person. It opens the whole platform: the peer tools, the written analysis and the exports, on every company we cover. Join the list and you will hear from us when it opens.
Your address is used for this and nothing else, and you can unsubscribe in one click. See the privacy policy.

Ask our research desk — $99, 24h, every figure cited to its filing.

Sample answer — “What is the CEO’s total compensation?”
- Harry Sommer (Former President and Chief Executive Officer), FY2025 total compensation $13,752,560 (base salary $1,300,000) [exec_comp, SEC accession 0001104659-26-052146, filed 2026-04-30]

Answered within 24 hours, every figure cited to its SEC filing. If our database cannot answer your question, you are refunded automatically.

Tell me when Norwegian Cruise Line Holdings files
You get a note when this company’s compensation data changes.
Your address is used for this and nothing else. Unsubscribe in one click.

What this page does not include

Everything above is a fact Norwegian Cruise Line Holdings disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where Norwegian Cruise Line Holdings sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $1,500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $1,500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $499
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
Velarion Intelligence
Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
Inquire about access
Multiple companies at once
Cross-company views, cohort screens, and data export across the industries we cover. This page is one company; the platform is all of them.
Velarion Intelligence
Join the list for Peer Group Review
Whether Norwegian Cruise Line Holdings' disclosed peer group is defensible, who names Norwegian Cruise Line Holdings back in their own benchmarking group, and how pay tracks performance across it. This is the analysis a compensation consultant delivers on the group above. We will email you when it opens.
Your address is used for this and nothing else. Unsubscribe in one click.

Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
328 figures on this page: 317 cited to the filing that reported them, 11 calculated from figures it prints.
317 cited to the filing
11 calculated from the filing

Documents cited

  1. 0001104659-26-074589
  2. 0001104659-26-052146
    2025 Director Compensation · 2025 Summary Compensation Table · CEO Pay Ratio · Director Compensation Program · and 2 more sections
  3. 0001558370-25-008569
  4. 0001104659-25-040634
    2024 Summary Compensation Table · Summary Compensation Table
  5. 0001558370-24-009204
    Item 5.07 Submission of Matters to a Vote of Security Holders
  6. 0001558370-23-012067
    Employment Agreement
  7. 0001558370-23-011232
    Item 5.07 Submission of Matters to a Vote of Security Holders
  8. 0001104659-23-052195
    2022 Summary Compensation Table
  9. 0001558370-23-004150
    Employment Agreement
  10. 0001558370-22-010103
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001558370-21-007639
  12. 0001558370-20-007657
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001144204-19-031027
  14. 0001144204-18-035188
    Item 5.07 Submission of Matters to a Vote of Security Holders
  15. 0001571049-17-005439
    Item 5.07 Submission of Matters to a Vote of Security Holders
  16. 0001571049-16-015492
    Item 5.07 Submission of Matters to a Vote of Security Holders
  17. 0001104659-24-053547
    Summary Compensation Table
Cite this data
This page is free to cite. Attribution we ask for:
Velarion, “Norwegian Cruise Line Holdings executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/NCLH (accessed 2026).
Short form: data: Velarion

The paid brief for Norwegian Cruise Line Holdings

Positioning against its disclosed peers, the governance read, incentive design, and the CD&A alignment analysis; the full peer table; a committee-ready PDF.
From $499 for the board report; $2,400 for both.
Get the executive briefGet the board briefNo account needed.
17 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
Embed this data
A small, cited view of this data for your own page or newsletter. Every embed carries a visible link back here, so the attribution travels with it.
The headline figures, each with its citation.
Connect an AI assistant
Ask your own assistant about Norwegian Cruise Line Holdings and roughly 3,000 other US public companies, and get back the same figures on this page with the same citations. Free read access, no account. Add this to your assistant's connector settings.
Setup guide and the full list of questions it answers

Gaming & Lodging rankings

Chief executive pay — Gaming & LodgingCEO pay ratio — Gaming & LodgingSay-on-pay support — Gaming & Lodging

Peers Norwegian Cruise Line Holdings discloses

The companies named in NCLH's own disclosed peer group.

Alaska Air Group, Inc.Boyd Gaming CorporationCaesars Entertainment, Inc.Carnival Corporation & plcHost Hotels & Resorts, Inc.Hyatt Hotels CorporationJetBlue Airways CorporationLas Vegas Sands Corp.Marriott Vacations Worldwide CorporationMGM Resorts InternationalPark Hotels & Resorts Inc.Penn Entertainment, Inc.Royal Caribbean Cruises Ltd.Spirit Airlines, Inc.Travel + Leisure Co.Vail Resorts, Inc.Wynn Resorts, LimitedYum! Brands, Inc.

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
For informational purposes only. Not investment, legal, or compensation advice.  All companies · The Pay Desk · Methodology · Terms · Privacy