Bernstein David 4
4 · CARNIVAL PLC · Filed Apr 23, 2026
Research Summary
AI-generated summary of this filing
Carnival (CUK) CFO David Bernstein Sells 17,312 Trust Shares
What Happened
David Bernstein, CFO & CAO of Carnival plc, had 17,312 trust shares disposed on April 21, 2026 to satisfy tax liabilities. The disposals were in two transactions: 7,578 shares and 9,734 shares, each at $28.74 per share, totaling approximately $217,793 and $279,757 respectively (combined ≈ $497,550). These were dispositions to cover tax obligations rather than open-market investment sales.
Key Details
- Transaction date: 2026-04-21; Filing date: 2026-04-23 (filed timely).
- Price: $28.74 per share.
- Shares disposed: 7,578 and 9,734 (total 17,312).
- Total value: ≈ $497,550 (sum of both disposals).
- Transaction code F: payment of exercise price or tax liability (tax withholding).
- Footnote: These were Trust Shares (beneficial interests in P&O Princess Voting Trust) paired with Carnival Corporation common stock per the Trust arrangement.
- Shares owned after transaction: Not reported in the provided excerpt.
Context
These transactions represent tax-withholding dispositions of Trust Shares (routine to cover tax from equity awards or exercises) and are not the same as an open-market sale signaling new investment intent. No indication of a trading plan or other motive is provided in the filing excerpt.
Insider Transaction Report
- Tax Payment
Trust Shares (beneficial Interest in Special Voting Share)
[F1][F2][F3]2026-04-21$28.74/sh−7,578$217,793→ 104,746 total - Tax Payment
Trust Shares (beneficial Interest in Special Voting Share)
[F1][F4]2026-04-21$28.74/sh−9,734$279,757→ 95,012 total
Footnotes (4)
- [F1]Represents trust shares (the "Trust Shares") of beneficial interests in P&O Princess Voting Trust (the "Trust"). In connection with the dual listed company transaction between Carnival plc (fka P&O Princess Cruises plc) and Carnival Corporation (the "DLC Transaction"), Carnival plc issued one special voting share to the Trust and, following a series of transactions, the Trust Shares were distributed to holders of common stock of Carnival Corporation (the "Carnival Corporation Common Stock"). Since completion of the DLC Transaction on April 17, 2003, if Carnival Corporation issues Carnival Corporation Common Stock to a person, the Trust will issue an equivalent number of Trust Shares to such person. The Trust Shares are paired with shares of Carnival Corporation Common Stock and are represented by the same stock certificate. The Trust Shares represent a beneficial interest in the Carnival plc special voting share.
- [F2]Represents shares withheld by the Company to cover taxes associated with vesting of time-based restricted stock units granted April 8, 2024.
- [F3]Includes dividend equivalent shares associated with the release of restricted stock units.
- [F4]Represents shares withheld by the Company to cover taxes associated with vesting of time-based restricted stock units granted April 16, 2025.