SUBOTNICK STUART 4

4 · Carnival Corp Ltd. · Filed May 12, 2026

AI-generated summary of this filing

Updated May 12, 2026

Carnival (CCL) Director Stuart Subotnick Receives 7,712-Share Award

What Happened

Stuart Subotnick, a non-executive director of Carnival Corporation (CCL), was granted 7,712 unrestricted shares on 2026-05-08 as board compensation under the Carnival Corporation Ltd. 2020 Stock Plan (reporting code A). The grant was valued by the board at $210,000 (footnote F2).
To cover tax withholding associated with the grant, 616 shares were withheld on 2026-05-11 at $26.38 per share (code F), totaling $16,250. A separate small open-market sale of 0.213 shares at $25.22 on 2026-05-11 generated about $5 (code S). The grant itself shows an acquisition at $0 reported value (standard for awards).

Key Details

Transaction dates and amounts:
- 2026-05-08: Award of 7,712 unrestricted shares (A). Grant value approved: $210,000 (F2).
- 2026-05-11: 616 shares withheld for taxes at $26.38/share = $16,250 (F).
- 2026-05-11: 0.213 shares sold at $25.22 = ~$5 (S).
Shares owned after transaction: Not disclosed in the filing.
Relevant footnotes:
- F1/F2: Unrestricted director award under the 2020 Stock Plan; number of shares set by dividing $210,000 by the 20-day average closing price and rounding down.
- F3: Grant total includes shares from the dividend reinvestment feature.
- F4: 616 shares were withheld to cover taxes.
Timeliness: Form filed 2026-05-12. The filing reports transactions from 05-08 and 05-11 and appears timely under the Form 4 reporting window.

Context

This was a compensation award to a non-executive director, not a market purchase—such grants are routine board compensation and do not by themselves signal personal buying conviction.
The withholding of shares to cover taxes (code F) and the sale of a fractional share (code S) are standard administrative actions related to the grant.

Form 4

Period: 2026-05-08

Director

Transactions

Award
Common Shares
[F1][F2][F3]
2026-05-08+7,712→ 133,037.274 total
Tax Payment
Common Shares
[F4]
2026-05-11$26.38/sh−616$16,250→ 132,421.274 total
Sale
Common Shares
2026-05-11$25.22/sh−0.213$5→ 132,421.061 total

Footnotes (4)

[F1]Grant of unrestricted shares made to non-executive directors pursuant to the Carnival Corporation Ltd. 2020 Stock Plan.
[F2]The Board of Directors approved a value of $210,000 to be granted to the reporting person in the form of unrestricted shares. The number of unrestricted shares was determined by dividing the grant value by the average of the closing prices of a Carnival Corporation share over 20 consecutive trading days ending on the day before the grant, then rounding down to the nearest whole share.
[F3]Includes shares acquired pursuant to the dividend reinvestment feature of the reporting person's account.
[F4]Represents shares withheld by the Issuer to cover taxes associated with the grant of unrestricted shares.

Signature

/s/ Stuart Subotnick|2026-05-12

1 file