[Form 4] CARNIVAL PLC Insider Trading Activity

Rhea-AI Filing Summary

Carnival plc (CUK)November 25, 2025, Nickel 2025-05 Trust No. 2, a trust for the benefit of Micky Arison and his family, received 8,472,297 shares of Carnival Corporation common stock paired with trust shares of beneficial interests in the P&O Princess Voting Trust in a distribution from Artsfare 2023-05 Trust No. 2 in connection with the passing of Marilyn B. Arison.

Following this transaction, trusts associated with the reporting person collectively hold trust shares paired with multiple blocks of Carnival Corporation common stock, including the newly received 8,472,297 shares, all tied to the dual-listed company structure between Carnival plc and Carnival Corporation. The reporting person disclaims beneficial ownership of certain shares held by specified trusts, highlighting that some of these holdings are for the benefit of other family members.

11/26/2025 - 04:39 PM

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)
	Chair of the Board

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

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)	11/25/2025		G		8,472,297	A	(2)	13,406,463	I	By various trusts(3)
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. On November 25, 2025, Nickel 2025-05 Trust No. 2, a trust for the benefit of Micky Arison and his family, received 8,472,297 shares of Carnival Corporation common stock, paired with Trust Shares, in a distribution from Artsfare 2023-05 Trust No. 2 in connection with the passing of Marilyn B. Arison.

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 common stock held by Nickel KA 2022 Trust #2, (v) 215,826 shares of Carnival Corporation common stock held by Nickel KA 2023 Trust #1, (vi) 509,066 shares of Carnival Corporation common stock held by Nickel KA 2024 Trust #1, (vii) 616,877 shares of Carnival Corporation common stock held by Nickel KA 2025 Trust #1, and 8,472,297 shares of Carnival Corporation common stock held by Nickel 2025-05 Trust #2. The Reporting Person disclaims beneficial ownership of the shares of Carnival Corporation common stock and paired Trust Shares 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	11/26/2025
	** 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 did Carnival plc (CUK) disclose in this Form 4 filing?

The filing reports an indirect change in ownership for the Chair of the Board and director of Carnival plc (CUK), involving a large transfer of Carnival Corporation common stock paired with trust shares among family trusts.

How many Carnival Corporation shares were transferred in the reported transaction?

On November 25, 2025, Nickel 2025-05 Trust No. 2 received 8,472,297 shares of Carnival Corporation common stock, paired with trust shares, in a distribution from Artsfare 2023-05 Trust No. 2.

Who benefits from the Nickel 2025-05 Trust No. 2 referenced in the Carnival plc (CUK) filing?

Nickel 2025-05 Trust No. 2 is described as a trust for the benefit of Micky Arison and his family, and it received 8,472,297 paired shares in the reported transaction.

What are the trust shares related to Carnival plc and Carnival Corporation?

The filing explains that the Trust Shares represent beneficial interests in a special voting share of Carnival plc held in the P&O Princess Voting Trust. These trust shares are paired with Carnival Corporation common stock and are represented by the same stock certificate under the dual listed company structure.

Does the reporting person claim full beneficial ownership of all the Carnival Corporation shares held by the trusts?

No. The filing states that the reporting person disclaims beneficial ownership of the Carnival Corporation common stock and paired trust shares held by the NA 2017-08 Trust, the KA 2017-08 Trust, and the 2022 KA Remainder Trust.

What roles does the reporting person hold at Carnival plc (CUK)?

The reporting person is identified as both a Director and an Officer, serving as Chair of the Board of Carnival plc.