CARNIVAL CORP — Director's Dealing 2012

Nov 13, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2012-11-08

Reporting Person: KRUSE STEIN (President & CEO, HAL)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-11-08	Common Stock	M	10800	$26.565	Acquired	110928.9714	Direct
2012-11-08	Common Stock	S	10800	$38.9201	Disposed	100128.9714	Direct
2012-11-08	Common Stock	S	10000	$38.9559	Disposed	90128.9714	Direct
2012-11-09	Common Stock	S	217.545	$38.89	Disposed	89911.4264	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-11-08	Stock Options (Right to Buy)	$26.565	M	10800	Disposed	2013-04-17	Common Stock (10800)	Direct

Footnotes

F1: This transaction was executed in multiple trades at prices ranging from $38.90 to $38.94. The price reported reflects the 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.

F2: This transaction was executed in multiple trades at prices ranging from $38.93 to $38.98. The price reported reflects the 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.

F3: Options vest ratably over five years beginning on the first anniversary of the grant date.