Form 4: Carnival Corp Director Sara Mathew Receives Restricted Stock Grant

Director Sara Mathew received a grant of restricted Carnival Corp shares valued at $195,000, which will vest in April 2027.

Summary

• Sara Mathew, a director of Carnival Corporation, received a grant of restricted shares on April 8, 2024.
• The grant was made pursuant to the Carnival Corporation 2020 Stock Plan.
• The restriction on the shares lapses in April 2027.
• The Boards of Directors approved a value of $195,000 to be granted to the reporting person in the form of restricted shares.
• The number of restricted shares granted was 12,141.
• The number of restricted shares was determined by dividing the grant value by the average of the closing prices of a share of Carnival Corporation common stock over a 10-business day period ending on the date of grant, then rounding down to the nearest whole share.
• Following the transaction, Sara Mathew beneficially owns 37,943 shares of Carnival Corporation common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard corporate governance practice of incentivizing directors with stock grants, indicating a positive alignment of interests. There are no negative implications.

Positives

• The grant of restricted shares aligns the director's interests with those of the shareholders.
• The vesting period of April 2027 encourages long-term commitment from the director.

Future Outlook

The document does not contain any specific forward-looking statements regarding the company's future performance.

Industry Context

This type of stock grant is a common practice for compensating and incentivizing directors in publicly traded companies, aligning their interests with the long-term success of the company.

Comparison to Industry Standards

• Stock grants to board members are a common practice across the cruise line and broader hospitality industry.
• Comparable companies like Royal Caribbean and Norwegian Cruise Line also utilize stock-based compensation for their directors.
• The size of the grant is likely benchmarked against industry standards for director compensation, considering the company's size and performance.

Stakeholder Impact

• The stock grant aligns the director's interests with those of the shareholders, potentially leading to better decision-making.
• The grant has no immediate impact on employees, customers, suppliers, or creditors.

Key Dates