Bernstein David 4
4 · CARNIVAL PLC · Filed May 7, 2026
Research Summary
AI-generated summary of this filing
Carnival PLC CFO David Bernstein Surrenders 95,012 Trust Shares
What Happened
- David Bernstein, CFO & CAO of Carnival plc (CUK), reported a disposition to the issuer of 95,012 shares on May 7, 2026. The shares reported were Trust Shares (beneficial interests in the P&O Princess Voting Trust) and the filing shows no sale price or proceeds (N/A).
- This was not an open-market sale: the Trust Shares were surrendered to Carnival plc for no consideration and then canceled in connection with the DLC Unification and Redomiciliation completed that day. The reporting person did not dispose of any Carnival Corporation securities.
Key Details
- Transaction date: 2026-05-07; Transaction type: Disposition to issuer (D).
- Shares affected: 95,012 Trust Shares; price/proceeds: N/A (surrendered and canceled).
- Footnote F1: Trust Shares represent beneficial interests in Carnival plc’s special voting share and are paired with Carnival Corporation common stock.
- Footnote F2: The surrender and cancellation occurred due to the DLC Unification and Redomiciliation that made Carnival plc a wholly owned subsidiary; no Carnival Corporation securities were sold by the reporting person.
- Filing timeliness: Reported for the same date as the transaction (no late filing indicated).
Context
- Trust Shares are a legacy of the dual-listed company (DLC) structure and are distinct from open-market common-stock sales; surrender/cancellation in corporate restructurings is typically procedural and does not necessarily signal insider intent to sell for cash.
- For retail investors: this transaction reduced the reporting person’s Trust Share holdings via corporate action, not a market sale that would provide liquidation proceeds.
Insider Transaction Report
Form 4Exit
CARNIVAL PLCCUK
Bernstein David
CFO & CAO
Transactions
- Disposition to Issuer
Trust Shares (beneficial Interest in Special Voting Share)
[F1][F2]2026-05-07−95,012→ 0 total
Footnotes (2)
- [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]On May 7, 2026, Carnival Corporation and Carnival plc completed the previously announced DLC Unification and Redomiciliation Transactions (the "DLC Unification and Redomiciliation"), pursuant to which Carnival plc became a wholly-owned subsidiary of Carnival Corporation Ltd. In connection with the consummation of the DLC Unification and Redomiciliation, the Trust Shares beneficially owned by the Reporting Person were surrendered to Carnival plc for no consideration, and then canceled. The Reporting Person did not dispose of any Carnival Corporation securities in connection with the DLC Unification and Redomiciliation.
Signature
/s/ David Bernstein|2026-05-07