CARNIVAL CORP (CCL)

Insider Trading Filed: 2026-05-12

Key Insights

Director Randall Weisenburger acquired 7,712 unrestricted shares on 05/08/2026 as part of non-executive director compensation under the 2020 Stock Plan, valued at approximately $210,000 based on a 20-day average closing price.
The acquisition was made at $0 consideration to the director (standard for equity grants), with shares granted at an average price of $27.24 per share, indicating the company's stock price level at the time of grant.
Weisenburger's total beneficial ownership increased to approximately 410,008.87 shares following this transaction, with 961,238 shares held indirectly through an LP arrangement, demonstrating significant board member investment in the company.

Insider Trading Filed: 2026-05-12

Key Insights

CEO Joshua Weinstein received a grant of 190,965 time-vested restricted share units (RSUs) on 05/08/2026, with a total grant value determined by dividing the compensation committee's approved amount by the 20-day average closing price, vesting pro-rata over three years (April 2027-2029).
Following this RSU grant, Weinstein's direct beneficial ownership increased to 421,845 shares, while he maintains indirect ownership of 794,037 shares through The Franklin's Tower Trust, indicating substantial personal stake in CCL's performance.
The grant structure with 3-year pro-rata vesting aligns executive compensation with long-term shareholder value creation, though at $0 transaction price this represents compensation expense rather than open-market insider buying activity.
No derivative securities (options, warrants) were involved in this transaction, suggesting CCL's executive compensation strategy relies primarily on restricted equity awards rather than leveraged option packages.

Insider Trading Filed: 2026-05-12

Key Insights

Director Laura A. Weil acquired 7,712 unrestricted shares on 05/08/2026 worth approximately $210,000 based on a 20-day average closing price valuation, indicating board-level confidence in the company.
Weil subsequently sold 616 shares on 05/11/2026 at $26.38 per share to cover tax withholding obligations related to the share grant, a routine compliance action rather than discretionary selling.
Her total beneficial ownership increased from approximately 124,994 shares to 132,120 shares after the grant and tax withholding, suggesting sustained confidence and long-term alignment with shareholder interests.

Insider Trading Filed: 2026-05-12

Key Insights

Director Stuart Subotnick received a grant of 7,712 unrestricted shares valued at $210,000 on 05/08/2026, representing standard non-executive director compensation under the 2020 Stock Plan rather than discretionary insider buying.
Subotnick sold a minimal amount of shares (0.2132 shares at $25.221) on 05/11/2026 while also having 616 shares withheld for tax obligations, indicating routine tax management related to the equity grant rather than a significant position reduction.
The director's total beneficial ownership remains substantial at approximately 132,421 shares after all transactions, suggesting continued confidence in Carnival despite the cruise industry's historical volatility and recovery challenges.

Insider Trading Filed: 2026-05-12

Key Insights

General Counsel Enrique Miguez acquired 31,399 restricted share units (RSUs) on 05/08/2026 through a compensation grant with zero purchase price, vesting over 3 years in April 2027, 2028, and 2029.
The RSU grant was valued and calculated using a 20-day average closing price methodology, indicating this is standard executive compensation rather than discretionary insider buying, which carries less significance for predicting stock movement.
Miguez holds 125,624 shares indirectly through the Enrique Miguez Trust, demonstrating substantial long-term beneficial ownership alongside the new grant, suggesting confidence in the company's direction.

Insider Trading Filed: 2026-05-12

Key Insights

Chief Maritime Officer Lars Ljoen received a grant of 21,795 time-vested restricted stock units (RSUs) on 05/08/2026, with a $0 exercise price, indicating this was a compensatory grant rather than a market purchase.
The RSUs vest over 3 years on a pro-rata basis (April 2027, 2028, 2029), demonstrating a retention-focused compensation structure aligned with long-term company performance rather than immediate incentive.
Ljoen's total beneficial ownership increased to 71,870.7719 shares following this transaction, representing accumulated equity stakes that tie executive compensation to shareholder value.

Insider Trading Filed: 2026-05-12

Key Insights

Director Katie Lahey acquired 7,712 unrestricted shares on 05/08/2026 valued at approximately $210,000, representing a standard non-executive director compensation grant under the 2020 Stock Plan rather than discretionary insider buying.
Lahey sold 616 shares on 05/11/2026 at $26.38 per share to cover tax withholding obligations associated with the share grant, reducing her net position from 85,741 to 85,125 shares.
The timing and mechanics of this transaction are routine director compensation, with share grants automatically triggering tax-withholding sales—this is normal administrative activity rather than a meaningful signal about insider confidence in CCL's valuation.

Insider Trading Filed: 2026-05-12

Key Insights

Director Jeffrey J. Gearhart acquired 7,712 unrestricted shares on 05/08/2026 valued at approximately $210,000 as part of standard board compensation under the 2020 Stock Plan, indicating routine director equity grants rather than discretionary insider buying.
Gearhart sold 616 shares on 05/11/2026 at $26.38 per share for tax withholding purposes related to the share grant, reducing his total beneficial ownership from 80,724 to 80,108 shares, which is a mechanical transaction rather than a sentiment indicator.
The filing shows a director maintaining steady equity ownership in CCL with no material changes in his beneficial ownership position, suggesting confidence in the company but reflecting standard compensation mechanics rather than significant insider activity.

Insider Trading Filed: 2026-05-12

Key Insights

Chief Human Resources Officer Bettina Deynes acquired 20,778 restricted share units (RSUs) valued at approximately $0 per unit on the grant date, representing a significant equity compensation grant from Carnival Corporation.
The RSUs vest over a 3-year period (April 2027, 2028, and 2029) on a pro-rata basis, indicating long-term retention incentives aligned with company performance rather than immediate liquidity.
Following the transaction, the reporting person beneficially owns 112,295.5493 common shares, with 65,899 shares held jointly with spouse, demonstrating substantial personal investment in CCL's future performance.
The grant was structured using a 20-day average closing price methodology, which is a standard market-based valuation approach for executive compensation in cruise industry.

Insider Trading Filed: 2026-05-12

Key Insights

Director Helen Deeble received a $210,000 grant of unrestricted shares (7,712 shares) on 05/08/2026 as part of standard non-executive director compensation under the 2020 Stock Plan, indicating routine board compensation practices.
Deeble sold 3,625 shares on 05/11/2026 at $26.38 per share to cover tax withholding obligations related to the grant, reducing her net position by approximately 87,087 shares after accounting for the sale and dividend reinvestment.
The relatively modest share grant amount and immediate tax-related sale suggest normal director compensation activity with no significant insider confidence signals about future stock price appreciation.

Insider Trading Filed: 2026-05-12

Key Insights

Director Nelda J. Connors received a grant of 7,712 unrestricted shares valued at $210,000 on 05/08/2026, representing routine director compensation rather than discretionary insider buying activity.
Connors sold 616 shares on 05/11/2026 at $26.38 per share to cover tax withholding obligations associated with the share grant, a common administrative action for equity compensation.
After these transactions, Connors holds 30,418.6435 CCL shares directly, indicating established beneficial ownership but no material new investment conviction based on this filing.

Insider Trading Filed: 2026-05-12

Key Insights

Director Jason Cahilly received a $210,000 grant of unrestricted shares (7,712 shares) on 05/08/2026 as part of standard non-executive director compensation under the 2020 Stock Plan, representing routine board compensation rather than discretionary insider buying.
Cahilly sold 616 shares on 05/11/2026 at $26.38/share to cover tax withholding obligations related to the share grant, a common mechanical transaction that does not signal confidence or lack thereof in the stock.
The director's net beneficial ownership increased to 87,820.67 shares following these transactions, with the majority of activity driven by the scheduled equity grant rather than voluntary open-market transactions.

Insider Trading Filed: 2026-05-12

Key Insights

CFO David Bernstein acquired 49,894 time-vested restricted share units (RSUs) on 05/08/2026 at no cost, representing a significant compensation grant with 3-year pro-rata vesting through April 2029.
The grant was approved by the Compensation Committee and valued based on a 20-day average closing price methodology, indicating this is a standard equity compensation practice rather than discretionary open-market buying.
Bernstein's total beneficial ownership increased to 144,906 shares following this transaction, demonstrating meaningful equity stake alignment with shareholder interests as CFO.
The RSUs include dividend equivalent accumulation rights and mandatory share settlement, incentivizing long-term retention and performance through the vesting period.

Insider Trading Filed: 2026-05-12

Key Insights

Director Sir Jonathon Band received a grant of 7,712 unrestricted shares valued at $210,000 on 05/08/2026, representing standard non-executive director compensation under the 2020 Stock Plan rather than discretionary insider buying.
Band sold 3,471 shares at $26.38 per share on 05/11/2026 to cover tax withholding obligations related to the share grant, reducing his net position from 60,313 to 56,842 shares and indicating tax-driven rather than confidence-driven selling.
The filing shows routine director compensation activity with no material changes in beneficial ownership sentiment; the small net acquisition (4,241 shares after tax withholding) represents standard equity compensation rather than significant insider conviction about stock value.

Current Report Filed: 2026-05-07

Key Insights

Carnival completed a major corporate restructuring on May 7, 2026, unifying its dual-listed company structure (Carnival Corporation and Carnival plc) into a single entity, Carnival Corporation Ltd., incorporated in Bermuda rather than Panama, simplifying corporate governance and potentially reducing operational complexity.
Carnival plc shares were delisted from the London Stock Exchange and will be deregistered from SEC reporting requirements, making Carnival plc a private subsidiary; only Carnival Corporation Ltd. common shares (trading as CCL on NYSE) will remain publicly traded, reducing disclosure obligations and administrative burden.
All outstanding American Depositary Shares (ADSs) representing Carnival plc shares were exchanged one-for-one for common shares of Carnival Corporation Ltd., providing ADS holders with direct ownership in the unified entity and potentially improving trading liquidity in a single primary listing.
The termination of the 2003 Equalization Agreement and related governance documents (SVE Special Voting Deed, P&O Princess Deed of Guarantee) eliminates historical constraints on the dual-structure and streamlines decision-making in the unified company, though implementation risks remain for integration execution.

Insider Trading Filed: 2026-04-23

Key Insights

CEO Joshua Weinstein acquired 56,798 shares of CCL stock through restricted stock unit (RSU) vesting on April 21, 2026, indicating continued equity compensation alignment with shareholder interests.
The transactions involved automatic tax withholding from RSU vesting (22,185 and 34,613 shares withheld) rather than discretionary open-market purchases, suggesting no deliberate insider buying signal at current price levels of $28.74.
Weinstein's total beneficial ownership includes 352,998 direct shares plus an indirect interest of 706,532 shares through The Franklin's Tower Trust, representing substantial personal stakes in the cruise operator's future performance.
Both RSU vesting events stemmed from grants made in April 2024 and April 2025, confirming ongoing executive compensation practices and multi-year retention equity structure at Carnival.

Insider Trading Filed: 2026-04-23

Key Insights

General Counsel Enrique Miguez executed two separate vesting events of restricted stock units on April 21, 2026, acquiring a net 7,114 shares after tax withholdings, indicating routine equity compensation rather than discretionary buying.
The transactions involved tax-withholding sales at $28.74 per share for RSUs granted in April 2024 and April 2025, representing automatic compliance with tax obligations rather than a signal of insider confidence or concern about valuation.
Following these transactions, Miguez maintains beneficial ownership of approximately 159,532 shares (44,999 + 40,534 direct shares plus 114,359 indirect shares in trust), demonstrating meaningful but not substantial personal investment in Carnival Corp.

Insider Trading Filed: 2026-04-23

Key Insights

Chief Maritime Officer Lars Ljoen acquired a total of 4,769 shares of CCL stock on April 21, 2026, through two separate restricted stock unit (RSU) vesting events, indicating ongoing equity compensation for senior management.
The shares were acquired at $28.74 per share through mandatory tax withholding on RSU vesting rather than discretionary open market purchases, suggesting no independent bullish conviction from the executive.
Following these transactions, Ljoen beneficially owns approximately 103,210 shares combined across two accounts, representing meaningful but non-dominant stake that aligns with his officer-level compensation structure.

Insider Trading Filed: 2026-04-23

Key Insights

Chief Human Resources Officer Bettina Deynes acquired 6,222 shares of CCL stock on 04/21/2026 through vesting of restricted stock units, bringing her total beneficial ownership to approximately 186,953 shares across two tranches.
Both share acquisitions resulted from restricted stock unit vesting with tax withholding (2,304 shares from April 2024 grant, 3,918 shares from April 2025 grant), indicating these are compensation-related transactions rather than open market purchases.
The transactions occurred at a valuation of $28.74 per share, providing context on CCL's stock price during this period and the value of the executive's equity compensation package.

Insider Trading Filed: 2026-04-23

Key Insights

CFO David Bernstein executed two separate transactions on 04/21/2026 involving restricted stock unit (RSU) vesting, totaling 17,312 shares withheld for tax purposes at an average price of $28.74 per share.
Both transactions represent routine tax withholding on vesting RSUs from grants dated April 2024 and April 2025, indicating normal equity compensation practices rather than discretionary buying or selling activity.
Following these transactions, Bernstein maintains a direct beneficial ownership of approximately 199,758 shares of CCL common stock, demonstrating continued alignment with shareholder interests.

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