CARNIVAL CORP — Director's Dealing 2020

Feb 19, 2020

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2020-02-14

Reporting Person: Bernstein David (CFO & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2020-02-14	Common Stock	A	17782	—	Acquired	68915.384	Direct
2020-02-14	Common Stock	F	6998	$42.9341	Disposed	61917.384	Direct

Footnotes

F1: Vesting of performance-based restricted stock units ("PBS RSUs") granted on April 5, 2017 pursuant to the Carnival Corporation 2011 Stock Plan. Each PBS RSU represents one share of Carnival Corporation common stock.

F2: The reporting person was eligible to earn from 0-200% of the stated target amount of PBS RSUs to the extent that Carnival Corporation & plc's annual operating income, as adjusted for certain fuel price changes and currency exchange rate impact for each of the three fiscal years in the 2017-2019 performance cycle and the average of each year's return on invested capital at the end of the three-year performance cycle exceed specified performance goals. This includes shares from the settlement of dividend equivalents accumulated during the PBS RSU restricted period.

F3: Represents a surrender of shares to satisfy the tax obligation on the vesting of PBS RSUs.

F4: Includes shares acquired pursuant to the dividend reinvestment feature of the reporting person's brokerage account.