Carnival (CUK) Insider Filing: Arison Transfers 739,492 Trust Shares as Gift
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.
Positive
- None.
Negative
- None.
Insights
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.
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.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Trust Shares (Beneficial Interest in Special Voting Share) | 739,492 | $0.00 | -- |
| holding | Trust Shares (Beneficial Interest in Special Voting Share) | -- | -- | -- |
| holding | Trust Shares (Beneficial Interest in Special Voting Share) | -- | -- | -- |
Footnotes (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. 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. 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.
