CARNIVAL CORP — Director's Dealing 2021

Feb 17, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: CARNIVAL CORP (CCL)
CIK: 0000815097
Period of Report: 2021-02-12

Reporting Person: Bernstein David (CFO & CAO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-12	Common Stock	A	4694	—	Acquired	156610	Direct
2021-02-12	Common Stock	S	16676	$20.2386	Disposed	139934	Direct

Footnotes

F1: Vesting of performance-based restricted stock units ("PBS RSUs") granted in February 2018 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 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 2018-2020 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: This transaction was executed in multiple trades at prices ranging from $20.17 to $21.32. 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.