Form 4: Carnival Corp CEO Joshua Weinstein Reports Acquisition of Restricted Stock Units

Carnival Corporation's CEO, Joshua Weinstein, reports the acquisition of time-vested restricted stock units (TBS RSUs) under the company's 2020 Stock Plan.

Summary

• On April 16, 2025, Joshua Weinstein, CEO of Carnival Corporation, acquired 262,257 time-vested restricted stock units (TBS RSUs).
• These RSUs were granted under the Carnival Corporation 2020 Stock Plan.
• Each RSU represents a hypothetical interest in one share of Carnival Corporation common stock.
• The RSUs will vest on a 3-year pro-rata basis in April 2026, 2027, and 2028.
• The grant was approved by the Compensation Committees as a total value to be received in the form of TBS RSUs.
• The number of TBS RSUs was determined by dividing the grant value by the average of the closing prices of Carnival Corporation common stock over 10 consecutive trading days ending on the date of grant, then rounding down to the nearest whole share.
• Following the transaction, Weinstein beneficially owns 738,274.228 shares of Carnival Corporation common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, indicating stability and alignment of interests. The sentiment is neutral to positive as it incentivizes the CEO.

Positives

• The grant of restricted stock units aligns the CEO's interests with those of the shareholders, incentivizing long-term value creation.
• The vesting schedule encourages continued service and commitment from the CEO.

Future Outlook

The TBS RSUs will vest on a 3-year pro-rata basis in April 2026, 2027 and 2028, contingent on continued service.

Industry Context

This type of equity compensation is common for CEOs in publicly traded companies to align their interests with shareholders and incentivize long-term performance.

Comparison to Industry Standards

• Equity compensation for CEOs in the cruise line industry, like Carnival, is generally structured to align with long-term shareholder value.
• Comparable companies such as Royal Caribbean Cruises Ltd. and Norwegian Cruise Line Holdings Ltd. also utilize restricted stock units and stock options as part of their executive compensation packages.
• The vesting schedules and performance metrics associated with these grants are often benchmarked against industry peers to ensure competitiveness and effectiveness.

Stakeholder Impact

• Shareholders: The grant of RSUs aligns the CEO's interests with those of the shareholders, potentially leading to increased shareholder value.
• Employees: The grant could boost employee morale by demonstrating confidence in the company's future.

Key Dates

Keywords

Carnival Corporation, Joshua Weinstein, CEO, restricted stock units, RSUs, stock plan, beneficial ownership, Form 4