Carnival (NYSE: CCL) director gets $210K stock grant, 616 shares withheld

Rhea-AI Filing Summary

Carnival Corp Ltd. director Katie Lahey received 7,712 common shares as a stock grant and had 616 shares withheld for taxes. The grant was an award of unrestricted shares to a non-executive director under the 2020 Stock Plan, with a board-approved value of $210,000. After these transactions, she directly holds about 85,125 common shares.

Insights

Equity compensation analyst

Routine director equity grant with small tax withholding.

Non-executive director Katie Lahey was granted 7,712 unrestricted Carnival Corp common shares as part of the company’s 2020 Stock Plan, with a board-approved grant value of $210,000. This is compensation-related, not an open-market purchase.

A separate Form 4 entry shows 616 shares withheld by the issuer to satisfy taxes on the grant. Tax withholding (code F) is a mechanical step and not a discretionary sale. Following these entries, Lahey directly holds about 85,125 common shares, suggesting the transactions are modest relative to her overall position.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Lahey Katie

Role null

Type	Security	Shares	Price	Value
Tax Withholding	Common Shares	616	$26.38	$16K
Grant/Award	Common Shares	7,712	$0.00	--

Holdings After Transaction: Common Shares — 85,125.059 shares (Direct, null)

Footnotes (1)

1. Grant of unrestricted shares made to non-executive directors pursuant to the Carnival Corporation Ltd. 2020 Stock Plan. The Board of Directors approved a value of $210,000 to be granted to the reporting person in the form of unrestricted shares. The number of unrestricted shares was determined by dividing the grant value by the average of the closing prices of a Carnival Corporation share over 20 consecutive trading days ending on the day before the grant, then rounding down to the nearest whole share. Includes shares acquired pursuant to the dividend reinvestment feature of the reporting person's account. Represents shares withheld by the Issuer to cover taxes associated with the grant of unrestricted shares.

Key Figures

Equity grant shares: 7,712 shares Grant value: $210,000 Tax withholding shares: 616 shares +2 more

5 metrics

Equity grant shares 7,712 shares Unrestricted common shares granted to non-executive director

Grant value $210,000 Board-approved value for director stock grant

Tax withholding shares 616 shares Shares withheld by issuer to cover grant-related taxes

Holdings after transactions 85,125.0588 shares Directly held Carnival common shares after grant and withholding

Withholding reference price $26.38 per share Price per share used for 616-share tax-withholding entry

Key Terms

unrestricted shares, Carnival Corporation Ltd. 2020 Stock Plan, dividend reinvestment feature, taxes associated with the grant

4 terms

unrestricted shares financial

"Grant of unrestricted shares made to non-executive directors pursuant to the Carnival Corporation Ltd. 2020 Stock Plan."

Carnival Corporation Ltd. 2020 Stock Plan financial

"Grant of unrestricted shares made to non-executive directors pursuant to the Carnival Corporation Ltd. 2020 Stock Plan."

dividend reinvestment feature financial

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

taxes associated with the grant financial

"Represents shares withheld by the Issuer to cover taxes associated with the grant of unrestricted shares."

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Lahey Katie

(Last) (First) (Middle)

C/O CARNIVAL CORPORATION

3655 N.W. 87TH AVENUE

(Street)

MIAMI FLORIDA 33178

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Carnival Corp Ltd. [ CCL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/08/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	05/08/2026		A(1)		7,712(2)	A	$0	85,741.0588(3)	D
Common Shares	05/11/2026		F		616(4)	D	$26.38	85,125.0588	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Grant of unrestricted shares made to non-executive directors pursuant to the Carnival Corporation Ltd. 2020 Stock Plan.

2. The Board of Directors approved a value of $210,000 to be granted to the reporting person in the form of unrestricted shares. The number of unrestricted shares was determined by dividing the grant value by the average of the closing prices of a Carnival Corporation share over 20 consecutive trading days ending on the day before the grant, then rounding down to the nearest whole share.

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

4. Represents shares withheld by the Issuer to cover taxes associated with the grant of unrestricted shares.

	/s/ Katie Lahey	05/12/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What did Carnival (CCL) director Katie Lahey report in this Form 4?

Katie Lahey reported receiving 7,712 unrestricted Carnival common shares as a board-approved equity grant valued at $210,000. She also reported 616 shares withheld by the company to cover taxes, leaving her with about 85,125 directly held shares after these transactions.

Was the Carnival (CCL) Form 4 transaction a market buy or sell?

The filing shows no open-market buy or sell. It reports an equity grant of 7,712 unrestricted shares as compensation and a separate tax-withholding disposition of 616 shares. These are routine compensation and tax events rather than discretionary trading in Carnival stock.

How many Carnival (CCL) shares does Katie Lahey hold after the Form 4 transactions?

After the reported grant and tax withholding, Katie Lahey directly holds about 85,125 Carnival common shares. This figure reflects her position following the 7,712-share equity award and the 616 shares withheld by the issuer to satisfy related tax obligations.

What is the value of the stock grant reported by Carnival (CCL) director Katie Lahey?

Carnival’s board approved a stock grant valued at $210,000 for director Katie Lahey. The number of unrestricted shares, 7,712, was calculated by dividing this value by the 20-day average closing price of a Carnival share and rounding down to the nearest whole share.

Why were 616 Carnival (CCL) shares disposed of in Katie Lahey’s Form 4?

The 616 shares were withheld by Carnival to cover taxes associated with Lahey’s unrestricted share grant. This tax-withholding disposition, coded “F” on the Form 4, is a standard payroll-like mechanism rather than an open-market sale decision by the director.