|CARNIVAL CORP filed this Form DEF 14A on 03/07/2019|
Compensation Discussion and Analysis and Carnival plc Directors Remuneration ReportPart I
The SEA grant requires an absolute TSR condition that is linked to Carnival Corporations share price growth as follows:
The absolute TSR payout percentage is then multiplied by a modifier tied to Carnival Corporations TSR ranking relative to the 2018 Peer Group which may increase or decrease the absolute TSR result, as follows:
The Compensation Committees believe that these SEA grants provide the Name Executive Officers with meaningful upside tied explicitly to shareholder outcomes and create alignment among the Named Executive Officers and senior management team.
The SEA grants made to our Named Executive Officers in April 2018 are included in the Grants of Plan-Based Awards in Fiscal 2018 table.
D. Disclosure of Prior Years Equity Grant Results
2016 PBS Grants. The 2016 PBS grants made to the Named Executive Officers in April 2016 reached the end of the performance period at the end of fiscal 2018 and vested on February 15, 2019. Under the terms of the 2016 PBS grant, shares vested based upon the extent to which Corporation Operating Income (70% weighting), as adjusted for 100% of year-over-year fuel price changes and currency exchange rate impact for each of fiscal 2016, 2017 and 2018 and ROIC growth (30% weighting) over the three-year performance period reached or exceeded the following: