Carnival PLC (NYSE: CUK) updates counsel’s tax-withheld Trust Shares
Rhea-AI Filing Summary
Carnival plc General Counsel Enrique Miguez reported routine share movements related to trust structures and tax withholding on equity awards. Two Form 4 entries show a total of 7,114 Trust Shares of beneficial interest in the Carnival plc special voting share withheld by the company to cover taxes on time-based restricted stock units that vested on awards granted April 8, 2024 and April 16, 2025.
After these tax-withholding dispositions, Miguez holds 40,533.8118 Trust Shares directly and 114,359 Trust Shares indirectly through the Enrique Miguez Trust, which reflects his ongoing economic exposure to Carnival plc’s dual-listed share structure rather than open-market buying or selling.
Positive
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Insider Trade Summary
Net Seller: 7,114 shares
Net Sell
3 txns
Insider
MIGUEZ ENRIQUE
Role
General Counsel
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise Price or Tax Liability | Trust Shares (beneficial Interest in Special Voting Share) | 2,649 | $28.7402 | $76K |
| Exercise Price or Tax Liability | Trust Shares (beneficial Interest in Special Voting Share) | 4,465 | $28.7402 | $128K |
| holding | Trust Shares (beneficial Interest in Special Voting Share) | -- | -- | -- |
Holdings After Transaction:
Trust Shares (beneficial Interest in Special Voting Share) — 40,533.8118 shares (Direct);
Trust Shares (beneficial Interest in Special Voting Share) — 114,359 shares (Indirect, Enrique Miguez Trust U/A/D December 19, 2025)
Footnotes (4)
- F1. 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 (f/k/a 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.
- F2. Represents shares withheld by the Company to cover taxes associated with vesting of time-based restricted stock units granted April 8, 2024.
- F3. Includes shares acquired pursuant to the dividend reinvestment feature of the reporting person's account and dividend equivalent shares associated with the release of restricted stock units.
- F4. Represents shares withheld by the Company to cover taxes associated with vesting of time-based restricted stock units granted April 16, 2025.
Key Figures
Tax-withheld Trust Shares: 7,114 shares
First tax-withholding block: 4,465 shares at $28.7402
Second tax-withholding block: 2,649 shares at $28.7402
+2 more
5 metrics
Tax-withheld Trust Shares
7,114 shares
Withheld to cover taxes on vested restricted stock units
First tax-withholding block
4,465 shares at $28.7402
Trust Shares withheld for RSUs granted April 8, 2024
Second tax-withholding block
2,649 shares at $28.7402
Trust Shares withheld for RSUs granted April 16, 2025
Direct Trust Share holdings
40,533.8118 shares
Direct holdings after reported tax-withholding transactions
Indirect Trust Share holdings
114,359 shares
Indirect holdings via Enrique Miguez Trust
Key Terms
Trust Shares, special voting share, time-based restricted stock units, dividend reinvestment, +1 more
5 terms
time-based restricted stock units financial
"taxes associated with vesting of time-based restricted stock units granted April 8, 2024"
Time-based restricted stock units are a form of employee compensation where individuals are granted company shares that are earned over a set period, often as a reward for staying with the company. These shares typically become fully owned and transferable only after passing specific time milestones, encouraging long-term commitment. For investors, they highlight a company's focus on employee retention and can influence future stock supply and company stability.
dividend reinvestment financial
"Includes shares acquired pursuant to the dividend reinvestment feature"
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
AI-generated analysis. How Rhea-AI works. Not financial advice.
FAQ
What did Carnival plc (CUK) General Counsel Enrique Miguez report in this Form 4?
He reported routine share movements tied to equity compensation. Carnival plc withheld 7,114 Trust Shares to cover taxes on vested restricted stock units, and the filing updates his direct and indirect holdings in the company’s special voting share structure.
What are Enrique Miguez’s holdings after the reported CUK Form 4 transactions?
Following the tax-withholding dispositions, he holds 40,533.8118 Trust Shares directly and 114,359 Trust Shares indirectly via the Enrique Miguez Trust. These positions show his ongoing exposure to Carnival plc’s special voting share alongside Carnival Corporation common stock.
Were these Carnival plc (CUK) Form 4 transactions open-market buys or sells?
No, they were tax-withholding dispositions coded “F.” Carnival plc withheld shares to satisfy tax liabilities on vesting restricted stock units, so the movements are compensation-related rather than discretionary open‑market purchases or sales by the General Counsel.