CARNIVAL CORP — Director's Dealing 2012

Apr 13, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2012-04-11

Reporting Person: CAHILL GERALD RAYMOND (President & CEO, CCL)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-04-11	Common Stock	A	4928	—	Acquired	110741	Direct
2012-04-11	Common Stock	F	1797	$31.25	Disposed	108944	Direct

Footnotes

F1: On April 11, 2012, the reporting person was granted 12,320 performance-based restricted stock units ("Performance RSUs"). The Reporting Person may earn from 0-200% of his target amount of Performance RSUs depending on the extent of Carnival Corporation & plc's earnings per share growth over the three-year performance period ending with fiscal 2014, subject to his continued employment during the performance period (with earlier partial vesting in certain cases upon eligibility for retirement, or death or disability, prior to the expiration of the performance period). Because, as of the date of the grant, the Reporting Person was eligible for retirement due to his age, 4,928 Performance RSU's vested on April 11, 2012.

F2: Represents a surrender of shares to satisfy the tax obligation on the vesting of the Performance RSUs.