SUBOTNICK STUART 4

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.