SEC Filings

DEF 14A
CARNIVAL CORP filed this Form DEF 14A on 03/07/2019
Entire Document
 


Table of Contents

ANNEX B

 

 

  2.9

Share Plan Grants Made to Directors in Fiscal 2018 (audited)

The LMCG Regulations require disclosure of grants made in the year plus a table of aggregate outstanding awards, separately detailing grants that vest in the year. The latter information is included in “Directors’ Shareholding and Share Interests” section.

 

   Director  

Grant

Date

  Plan(1)  

No. of

Shares

 

Face Value(2)

($)

 

Threshold

Vesting

Level

(%)

 

Vesting Level

at

Maximum

Performance(3)

(%)

 

Anticipated   

Vesting

Date

   Micky Arison

  N/A   N/A       N/A       N/A   N/A   N/A   N/A

   Arnold W. Donald

  1/16/2018   MTE       31,939       2,188,460   N/A   N/A   1/16/2021
  2/12/2018   PBS       43,623       2,999,954   50   200   2/12/2021
  4/10/2018   SEA       35,000       2,208,500   50   600   4/10/2021

   Sir Jonathon Band

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Jason Glen Cahilly

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Helen Deeble

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Richard J. Glasier

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Debra Kelly-Ennis

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Katie Lahey

  N/A   N/A       N/A       N/A   N/A   N/A   N/A

   Sir John Parker

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Stuart Subotnick

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Laura Weil

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

   Randall J. Weisenburger

  4/11/2018   Restricted Stock       2,749       174,946   N/A   100   4/11/2021

 

(1)

The terms of MTE, SEA and PBS grants to one Executive Director and the terms of restricted stock grants to Non-Executive Directors and the basis on which these grants are made are summarized in the table above are described in the “Director Compensation” and “Executive Compensation” sections of the Proxy Statement.

(2)

Face values for all grants are calculated using the closing share prices at the relevant grant dates being: $68.52 at January 16, 2018, $68.77 at February 12, 2018, $63.10 at April 10, 2018 and $63.64 at April 11, 2018.

(3)

MTE grants have only pre-grant performance measures. SEA and PBS grants have post-grant performance measures. These are described in Part I of the Carnival plc Directors’ Remuneration Report. Consistent with U.S. practice, these have been included at their target values. To comply with the LMCG Regulations, a column for the maximum percentage (before dividend accrual) has been included and the UK face values should be taken as the reported figure multiplied by those percentages. Similarly, the threshold percentages are expressed as a percentage of target rather than maximum. The performance period for the SEA grants is December 1, 2017-November 30, 2020 and the performance period for the PBS grants is fiscal 2018, 2019 and 2020.

 

  2.10

Directors’ Shareholding and Share Interests (audited)

Details of Carnival Corporation & plc’s stock ownership requirements for Executive Directors are set out in Part I. Messrs. Arison and Donald comply with the policy, which require each of them to own Carnival Corporation or Carnival plc shares with a value equivalent to six times his salary.

The stock ownership policy for Non-Executive Directors provides that all Non-Executive Directors are required to own shares (inclusive of unvested restricted stock, RSUs and shares in a trust beneficially owned by the Director) of either Carnival Corporation common stock or Carnival plc ordinary shares with a value equal to five times the cash retainer. New Directors must achieve this requirement no later than five years from the date of their initial election to the Boards by the shareholders. Other than Ms. Deeble and Mr. Cahilly, who were elected in 2016 and 2017, respectively, and Ms. Lahey, who was appointed in January 2019, each of the Non-Executive Directors has already achieved this Board-mandated requirement.

 

B-12           Carnival plc Directors’ Remuneration Report – Part II