Fain To Sell $3.8 M In Company Stock

Royal Caribbean Cruises Ltd. chairman and chief executive officer Richard Fain plans to sell about $3.87 million of the company's stock, a Securities and Exchange Commission filing said. Fain, who has held his present position at the second-largest cruise line company since 1988, filed on Aug. 20 to sell 79,714 common shares he received from a stock option exercise, the filing said. A Royal Caribbean official declined to comment on the planned sale. Miami-based Royal Caribbean posted $175.5 million in net income during the first six months of this year, up from $157 million during the same period in 1998.