[Form 4] Carnival PLC Insider Trading Activity

Rhea-AI Filing Summary

Micky Meir Arison reported a Form 4 disclosing transactions in Carnival plc (CUK) trust shares on 08/21/2025. The filing shows a transfer of 739,492 Trust Shares executed under transaction code G (a transfer for no consideration, treated as a gift) from Nickel KA 2022 Trust #1 to 2022 KA Remainder Trust. After the reported transaction, the filing lists 4,587,110 Trust Shares beneficially owned indirectly by the reporting person via various trusts, and identifies an additional disposition of 347,056 Trust Shares and indirect holdings of 80,736,445 Trust Shares through MA 1994 B Shares, L.P. The filing explains the Trust Shares represent beneficial interests in a special voting share paired with Carnival Corporation common stock and includes a disclaimer of beneficial ownership for certain trust-held shares.

Insights

Financial Analyst

TL;DR: Routine intra-family trust transfer that does not clearly change ultimate indirect control; mostly an administrative gift transaction.

The Form 4 documents a gift transfer of 739,492 Trust Shares under code G and reports detailed indirect holdings across multiple trusts totaling millions of paired Trust Shares. This disclosure is transactional rather than operational and contains no earnings, debt, or corporate action data. For investors, the filing signals a reallocation of ownership among related trusts without explicit change to public float or corporate governance beyond the stated pairing mechanism between Trust Shares and Carnival Corporation common stock.

Corporate Governance Expert

TL;DR: Insider disclosure of trust-level share movement; describes structure of special voting Trust Shares paired with common stock.

The filing reiterates the Trust structure created in the DLC transaction and confirms that Trust Shares represent beneficial interests in Carnival plc's special voting share and are paired with Carnival Corporation common stock. The reported gift and the reporting person's disclaimer of beneficial ownership for certain trust holdings are relevant to understanding beneficial ownership attribution, but the filing does not indicate any change in board composition, voting agreements, or control arrangements beyond the described trust relationships.

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

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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^*

ARISON MICKY MEIR

(Last) (First) (Middle)

C/O CARNIVAL CORPORATION

3655 NW 87TH AVE

(Street)

MIAMI FL 33178

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CARNIVAL PLC [ CUK ]

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

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman of the Board

3. Date of Earliest Transaction (Month/Day/Year)
08/21/2025

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

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

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

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
Trust Shares (Beneficial Interest in Special Voting Share)(1)	08/21/2025		G		739,492	A	(2)	4,587,110	I(3)	By various trusts
Trust Shares (Beneficial Interest in Special Voting Share)(1)								347,056	D
Trust Shares (Beneficial Interest in Special Voting Share)(1)								80,736,445	I	By MA 1994 B Shares, L.P.

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. Represents trust shares (the "Trust Shares") of beneficial interests in P&O Princess Voting Trust (the "Trust"). In connection with the dual listed company transaction between Carnival plc (fka P&O Princess Cruises plc) and Carnival Corporation (the "DLC Transaction"), Carnival plc issued one special voting share to the Trust and, following a series of transactions, the Trust Shares were distributed to holders of common stock of Carnival Corporation (the "Carnival Corporation Common Stock"). Since completion of the DLC transaction on April 17, 2003, if Carnival Corporation issues Carnival Corporation Common Stock to a person, the Trust will issue an equivalent number of Trust Shares to such person. The Trust Shares are paired with shares of Carnival Corporation Common Stock and are represented by the same stock certificate. The Trust Shares represent a beneficial interest in the Carnival plc special voting share.

2. This transaction was a transfer for no consideration, thus deemed a gift for federal securities laws, from Nickel KA 2022 Trust #1, a trust for thebenefit of Mr. Arison, to 2022 KA Remainder Trust, a trust for the benefit of one of Mr. Arison's children.

3. Includes Trust Shares paired with (i) 841,506 shares of Carnival Corporation Common Stock held by the NA 2017-08 Trust, (ii) 841,506 shares of Carnival Corporation Common Stock held by the KA 2017-08 Trust, (iii) 739,492 shares of Carnival Corporation Common Stock held by the 2022 KA Remainder Trust,(iv) 1,169,893 shares of Carnival Corporation Stock held by Nickel KA 2022 Trust #2, (v) 304,217 shares of Carnival Corporation Stock held by Nickel KA 2023 Trust #1, and (vi) 690,496 shares of Carnival Corporation Stock held by Nickel KA 2024 Trust #1. The Reporting Person disclaims beneficial ownership of the Trust Shares and shares of Carnival Corporation Common Stock held by the NA 2017-08 Trust, the KA 2017-08 Trust and the 2022 KA Remainder Trust.

	/s/ Richard L. Kohan, attorney-in-fact	08/22/2025
	** 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.

FAQ

What transaction did Micky Arison report on the Form 4 for CUK?

The Form 4 reports a transfer for no consideration (transaction code G), treated as a gift, of 739,492 Trust Shares on 08/21/2025.

How many Trust Shares does the filing show Micky Arison indirectly owns after the transaction?

The filing lists 4,587,110 Trust Shares beneficially owned indirectly following the reported transaction, plus an indicated indirect holding of 80,736,445 Trust Shares via MA 1994 B Shares, L.P.

What are the Trust Shares described in the filing?

The Trust Shares are beneficial interests in the P&O Princess Voting Trust that represent a beneficial interest in Carnival plc's special voting share and are paired with Carnival Corporation common stock.

Was consideration paid for the transferred Trust Shares?

No; the filing states the transfer was for no consideration and was therefore deemed a gift under federal securities laws.

Does the reporting person disclaim ownership of any trust-held shares?

Yes; the reporting person disclaims beneficial ownership of Trust Shares and Carnival Corporation common stock held by the NA 2017-08 Trust, the KA 2017-08 Trust and the 2022 KA Remainder Trust as stated in the filing.