SUBOTNICK STUART 4
4 · CARNIVAL PLC · Filed May 7, 2026
Research Summary
AI-generated summary of this filing
Carnival plc (CUK) Director Stuart Subotnick Surrenders 125,325 Trust Shares
What Happened
- Stuart Subotnick, a director of Carnival plc (CUK), disposed of 125,325.274 "Trust Shares" to the issuer on May 7, 2026. The shares were surrendered to Carnival plc for no consideration and then canceled in connection with the DLC Unification and Redomiciliation completed that day.
- No cash proceeds are reported (price listed as N/A). The filing notes the Reporting Person did not sell or otherwise dispose of any Carnival Corporation common stock in connection with this transaction.
Key Details
- Transaction date: 2026-05-07; Transaction code: D (Disposition to issuer).
- Shares involved: 125,325.274 Trust Shares; Price/consideration: none (surrendered and canceled).
- Footnote summary: These are Trust Shares representing beneficial interests in the P&O Princess Voting Trust paired with Carnival Corporation common stock; they were surrendered and canceled upon the DLC Unification and Redomiciliation.
- Shares owned after transaction: Trust Shares surrendered and canceled (Reporting Person no longer holds these Trust Shares). The filing does not report any sale of Carnival Corporation common stock.
- Filing timeliness: Reported on the Form 4 covering the 2026-05-07 transaction (no late filing indicated).
Context
- Trust Shares are not direct Carnival plc common stock but represent beneficial interests in a special voting share held by a trust that was part of the historical dual-listed company (DLC) structure. The surrender was a corporate-structure cleanup tied to the DLC Unification and Redomiciliation, not a market sale for cash—so it does not reflect a typical insider sell or purchase for liquidity or investment purpose.
Insider Transaction Report
Form 4Exit
CARNIVAL PLCCUK
SUBOTNICK STUART
Director
Transactions
- Disposition to Issuer
Trust Shares (beneficial Interest in Special Voting Share)
[F1][F2]2026-05-07−125,325.274→ 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/ Stuart Subotnick|2026-05-07