CARNIVAL CORP — Director's Dealing 2011

Jan 21, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2011-01-19

Reporting Person: ARISON MICKY MEIR (Director, Chairman & CEO, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-01-19	Common Stock	A	75683	—	Acquired	75683	Direct
2011-01-19	Common Stock	G	75683	—	Disposed	0	Direct
2011-01-19	Common Stock	G	75683	—	Acquired	740357	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	109869563	Indirect

Footnotes

F1: Grant of restricted stock made pursuant to the Carnival Corporation 2002 Stock Plan and the terms of an Executive Long-Term Compensation Agreement. The restriction on the shares lapse on the third anniversary of the grant date.

F2: The grant was approved by the Compensation Committee as a total value to be received in the form of restricted shares. The Compensation Committee also approved that the number of shares was to be determined by dividing the value by the closing price on date of grant.

F3: Gift of Shares to the Nickel 2003 Revocable Trust.

F4: Includes (i) 103,638,843 shares of common stock held by MA 1994 B Shares, L.P.; (ii) 538,393 shares of common stock held by the Nickel 97-07 Trust; (iii) 317,099 shares of common stock held by the Nickel 2006 GRAT; (iv) 121,308 shares of common stock held by the Nickel 2007 GRAT; (v) 438,220 shares of common stock held by the Nickel 2008 GRAT; (vi) 2,244,231 shares of common stock held by the Nickel 2008-2 GRAT; (vii) 1,071,469 shares of common stock held by the Nickel 2009 GRAT; and (viii) 1,500,000 shares of common stock held by the Nickel 2010 GRAT.