Schedule 14A


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Table of Contents

 

 

UNITED STATES SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

 

SCHEDULE 14A

(RULE 14a-101)

INFORMATION REQUIRED IN PROXY STATEMENT SCHEDULE 14A INFORMATION

 

PROXY STATEMENT PURSUANT TO SECTION 14(a) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

 

Filed by the Registrant  x

Filed by a party other than the Registrant  ¨

Check the appropriate box:

 

 

 

 

¨

 

Preliminary Proxy Statement

 

 

¨

 

Confidential, for Use of the Commission Only (as permitted by Rule 14a-6(e)(2))

 

 

x

 

Definitive Proxy Statement

 

 

¨

 

Definitive Additional Materials

 

 

¨

 

Soliciting Material Pursuant to §240.14a-12

NORWEGIAN CRUISE LINE HOLDINGS LTD.

 

(Name of Registrant as Specified In Its Charter)

 

          

 

(Name of Person(s) Filing Proxy Statement, if Other Than The Registrant)

Payment of Filing Fee (Check the appropriate box):

 

 

 

 

 

 

 

x

 

No fee required.

 

 

¨

 

Fee computed on table below per Exchange Act Rules 14a-6(i)(1) and 0-11.

 

 

 

 

 

(1)

 

Title of each class of securities to which transaction applies:

 

     

 

 

(2)

 

Aggregate number of securities to which transaction applies:

 

     

 

 

(3)

 

Per unit price or other underlying value of transaction computed pursuant to Exchange Act Rule 0-11 (set forth the amount on which the filing fee is calculated and state how it was determined):

 

     

 

 

(4)

 

Proposed maximum aggregate value of transaction:

 

     

 

 

(5)

 

Total fee paid:

 

     

 

 

¨

 

Fee paid previously with preliminary materials.

 

 

¨

 

Check box if any part of the fee is offset as provided by Exchange Act Rule 0-11(a)(2) and identify the filing for which the offsetting fee was paid previously. Identify the previous filing by registration statement number, or the Form or Schedule and the date of its filing.

 

 

 

 

 

(1)

 

Amount Previously Paid:

 

     

 

 

(2)

 

Form, Schedule or Registration Statement No.:

 

     

 

 

(3)

 

Filing Party:

 

     

 

 

(4)

 

Date Filed:

 

     

 

 

 
Table of Contents
 



NORWEGIAN CRUISE LINE HOLDINGS LTD.

7665 Corporate Center Drive

Miami, Florida 33126

NOTICE OF ANNUAL GENERAL MEETING OF SHAREHOLDERS

TO BE HELD APRIL 24, 2014

 

 

To our Shareholders:

Notice is hereby given that the annual general meeting of the shareholders of Norwegian Cruise Line Holdings Ltd. (the “Company”) constituting the annual general meetings of the Company for 2013 and 2014 will be held at 8:00 a.m. (Miami time) on Thursday, April 24, 2014 at the Sheraton Miami Airport, 3900 NW 21 

 

1.

To elect the following director nominees to serve as Class I directors on our board of directors (the “Board”) for the terms described in the attached proxy statement (“Proxy Statement”):

 

 

1a.

Tan Sri Lim Kok Thay;

 

 

1b.

David M. Abrams; and

 

 

1c.

John Chidsey;

 

 

2.

To approve, on a non-binding, advisory basis, the compensation of our named executive officers (“Say-On-Pay Vote”);

 

 

3.

To approve, on a non-binding, advisory basis, the frequency of future Say-On-Pay Votes;

 

 

4.

To approve the Norwegian Cruise Line Holdings Ltd. Employee Stock Purchase Plan;

 

 

5.

To ratify (i) the appointment of PricewaterhouseCoopers LLP (“PwC”) as our independent registered certified public accounting firm for the year ending December 31, 2014 and (ii) the determination of PwC’s remuneration by the Audit Committee of the Board;

 

 

6.

To receive the audited financial statements (together with the auditor’s report) of the Company for the years ended December 31, 2012 and December 31, 2013 pursuant to the provisions of the Bermuda Companies Act 1981, as amended, and the Company’s bye-laws; and

 

 

7.

To consider such other business as may properly come before the Annual General Meeting and any postponement or adjournment thereof.

The Board has fixed the close of business on February 24, 2014 as the record date for the determination of shareholders entitled to notice of and to vote at the meeting or any postponement or adjournment thereof. All proxies must be received by the Company by or before 11:59 p.m., Eastern Daylight Time, on the day immediately prior to the Annual General Meeting or any postponement or adjournment thereof.

All shareholders are cordially invited to attend the meeting in person. We direct your attention to the accompanying Proxy Statement. Whether or not you plan to attend the meeting in person, please authorize how your shares are voted at the Annual General Meeting by submitting your proxy or voting instructions in one of the following three ways: (1) complete, sign, date, and return the accompanying proxy card or voting instruction form in the enclosed, postage-prepaid envelope; (2) call the toll-free number listed on the accompanying proxy card or voting instruction form; or (3) access the Internet as indicated on the accompanying proxy card or voting instruction form. If you attend the meeting and wish to vote in person, you may withdraw your proxy or voting instructions and vote your shares personally.

 

 

By Order of the Board of Directors,

 

 

Daniel S. Farkas

Senior Vice President, General Counsel and

Assistant Secretary

March 20, 2014
Table of Contents

TABLE OF CONTENTS

 

 

 

 

 

 

GENERAL INFORMATION

  

 

1

  

 

 

Who May Vote

  

 

1

  

Requirements to Attend the Annual General Meeting

  

 

2

  

How to Vote

  

 

2

  

How Your Shares Will Be Voted

  

 

2

  

Matters to be Presented

  

 

3

  

Quorum

  

 

3

  

Vote Necessary to Approve Proposals

  

 

3

  

Revoking a Proxy

  

 

4

  

Presentation Of Financial Statements

  

 

4

  

Our Sponsors

  

 

4

  

 

 

CORPORATE GOVERNANCE

  

 

6

  

 

 

Corporate Governance Guidelines

  

 

6

  

Board of Directors and Committees

  

 

6

  

Board Leadership Structure

  

 

9

  

Board Role in Risk Oversight

  

 

9

  

Director Independence

  

 

10

  

Family Relationships

  

 

10

  

Code of Ethics

  

 

10

  

Contacting Members of the Board of Directors

  

 

10

  

 

 

SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

  

 

11

  

 

 

SECTION 16(A) BENEFICIAL OWNERSHIP REPORTING COMPLIANCE

  

 

16

  

 

 

PROPOSAL 1 — ELECTION OF DIRECTORS

  

 

17

  

 

 

General

  

 

17

  

Directors Standing for Election

  

 

18

  

Board Recommendation

  

 

19

  

Directors Continuing in Office

  

 

19

  

 

 

DIRECTOR COMPENSATION

  

 

23

  

 

 

Director Compensation for 2013

  

 

23

  

 

 

CERTAIN RELATIONSHIPS AND RELATED PERSON TRANSACTIONS

  

 

24

  

 

 

Review and Approval of Related Party Transactions

  

 

24

  

Transactions with Genting HK, Apollo and TPG

  

 

24

  

The Shareholders’ Agreement

  

 

25

  

The Subscription Agreement

  

 

29

  

Tax Agreement and Exchange Agreement

  

 

30

  

 

 

EXECUTIVE COMPENSATION

  

 

31

  

 

 

Compensation Discussion And Analysis

  

 

31

  

Executive Compensation Program Elements

  

 

33

  

Other Elements of Compensation

  

 

38

  

Compensation Committee Report

  

 

39

  

 

 

COMPENSATION OF EXECUTIVE OFFICERS

  

 

40

  

 

i
Table of Contents

 

 

 

 

 

 

 

2013 SUMMARY COMPENSATION

  

 

40

  

 

 

Description of Employment Agreements—Salary and Bonus Amounts

  

 

41

  

 

 

GRANTS OF PLAN-BASED AWARDS IN 2013

  

 

43

  

 

 

Description of New Option Awards

  

 

44

  

 

 

OUTSTANDING EQUITY AWARDS AT DECEMBER 31, 2013

  

 

44

  

 

 

OPTIONS EXERCISES AND STOCK VESTED IN 2013

  

 

45

  

 

 

NONQUALIFIED DEFERRED COMPENSATION

  

 

46

  

 

 

POTENTIAL PAYMENTS UPON TERMINATION OR CHANGE IN CONTROL

  

 

47

  

 

 

Estimated Severance and Change in Control Benefits

  

 

49

  

 

 

EQUITY COMPENSATION PLAN INFORMATION

  

 

50

  

 

 

PROPOSAL 2 — ADVISORY APPROVAL OF THE COMPENSATION OF OUR NAMED EXECUTIVE OFFICERS

  

 

51

  

 

 

Board Recommendation

  

 

51

  

 

 

PROPOSAL 3 — ADVISORY APPROVAL OF THE FREQUENCY OF FUTURE ADVISORY VOTES ON EXECUTIVE COMPENSATION

  

 

52

  

 

 

Recommendation of the Board

  

 

52

  

 

 

PROPOSAL 4 — APPROVAL OF THE NORWEGIAN CRUISE LINE HOLDINGS LTD. EMPLOYEE STOCK PURCHASE PLAN

  

 

53

  

 

 

General

  

 

53

  

Summary Description of the ESPP

  

 

53

  

Federal Income Tax Consequences of the ESPP

  

 

56

  

Specific Benefits

  

 

57

  

Equity Compensation Plan Information

  

 

57

  

Recommendation of the Board

  

 

57

  

 

 

PROPOSAL 5 — RATIFICATION OF PRINCIPAL INDEPENDENT REGISTERED CERTIFIED PUBLIC ACCOUNTING FIRM

  

 

58

  

 

 

Board Recommendation

  

 

59

  

 

 

AUDIT COMMITTEE REPORT

  

 

60

  

 

 

DEADLINE FOR RECEIPT OF SHAREHOLDER PROPOSALS FOR THE 2015 ANNUAL GENERAL MEETING OF SHAREHOLDERS

  

 

61

  

 

 

SOLICITATION OF PROXIES

  

 

61

  

 

 

DELIVERY OF DOCUMENTS TO SHAREHOLDERS SHARING AN ADDRESS

  

 

62

  

 

 

ANNUAL REPORT ON FORM 10-K

  

 

62

  

 

ii
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