Form 4: Carnival Corp Director Stuart Subotnick Receives Restricted Stock Grant

Director Stuart Subotnick of Carnival Corporation received a grant of restricted stock under the company's 2020 Stock Plan.

Summary

• Stuart Subotnick, a director of Carnival Corporation, received a grant of 12,141 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 grant value was approved by the Boards of Directors at $195,000.
• The number of shares was determined by dividing the grant value by the average closing prices 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.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. It reflects a standard compensation practice that aligns director interests with shareholder value. There are no indications of negative news or concerns.

Positives

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

Industry Context

Granting restricted stock is a common practice for compensating and incentivizing directors in publicly traded companies, aligning their interests with the long-term performance 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 grants as part of their director compensation packages.
• The specific value and vesting schedules of these grants vary based on company size, performance, and individual director roles.

Stakeholder Impact

• The grant of restricted stock aligns the director's interests with those of the shareholders, potentially leading to better decision-making for the company's long-term success.

Key Dates