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CARNIVAL CORP Director's Dealing 2011

Feb 24, 2011

30070_dirs_2011-02-24_5089063f-a0db-41cb-8dbf-16501724cb4c.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2011-02-22

Reporting Person: RATCLIFFE PETER GERVIS (Director)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2011-02-22 Common Stock C 10000 Acquired 10000 Direct
2011-02-22 Common Stock C 20000 Acquired 30000 Direct
2011-02-22 Common Stock A 908 Acquired 30908 Direct
2011-02-22 Common Stock A 1107 Acquired 32015 Direct
2011-02-22 Common Stock S 30000 $42.3754 Disposed 2015 Direct
2011-02-23 Common Stock S 2015 $41.3915 Disposed 0 Direct

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2011-02-22 Restricted Stock Units $0 C 10000 Disposed Common Stock (10000) Direct
2011-02-22 Restricted Stock Units $0 C 20000 Disposed Common Stock (20000) Direct

Footnotes

F1: Represents shares released from restriction from a Restricted Stock Unit award granted in 2006.

F2: Represents shares released from restriction from a Restricted Stock Unit award granted in 2008.

F3: Represents settlement of dividend equivalents accumulated during the restricted period of restricted stock unit awards originally granted in 2006 and 2008, which have now been released.

F4: This transaction was executed in multiple trades at prices ranging from $42.23 to $42.69. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F5: This transaction was executed in multiple trades at prices ranging from $41.39 to $41.3926. The price reported reflects the weighted average sale price. The reporting person hereby undertakes to provide upon request to the SEC staff, the issuer or a security holder of the issuer full information regarding the number of shares and prices at which the transaction was effected.

F6: Restricted stock units either vest or are forfeited therefore there is no expiration date.