SEC Filings

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


Table of Contents

COMPENSATION

Compensation Discussion and Analysis and Carnival plc Directors’ Remuneration Report—Part I

 

Donald, Bernstein and Perez) had company-wide roles during fiscal 2018 and two of our Named Executive Officers (Messrs. Kruse and Thamm) were Chief Executive Officers of groups operating two or more brands during fiscal 2018. As a result, the compensation practices for these two types of roles are different.

 

Named Executive
Officer
  Type of Role    Base Salary    Annual Bonus  

Equity-Based

Compensation

 

Retirement
Benefits

and Perquisites

 

Arnold W. Donald

 

  Company-wide role    Based on level of
responsibility and
increases based
on performance  or
other market
factors
   Based 100% on
company-wide
operating income
  MTE, PBS and SEA
grants to align
with
shareholder
outcomes
  Reflect country
practices where
a Named
Executive
Officer is employed

 

David Bernstein

 

 

Arnaldo Perez

 

 

Stein Kruse

 

  CEO of a group of brands   

 

Based 50% on
company-wide
operating income
and 50% on a group
of brands’  operating
income

 

 

Michael Thamm

 

In determining the amount of any particular compensation element, the Compensation Committees consider the impact of such an element on total compensation (and thus, each element affects the amount paid in respect of other elements of compensation). For example, the Compensation Committees consider the amount of the base salary and annual bonus that may be earned by a Named Executive Officer when making an equity grant. However, the annual bonus and equity-based compensation grants are set independently on the basis of dollar values (and are not set or determined as a fixed percentage of base salary).

As reflected in our target pay mix below, all direct compensation of our Named Executive Officers, other than base salary, is 100% at risk and performance-based in line with our philosophy to place greater emphasis on performance-based pay elements.

 

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