SEC Filings

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


Table of Contents

COMPENSATION

Compensation Tables

 

COMPENSATION TABLES

 

 

Although Carnival Corporation and Carnival plc are two separate entities, our business is run by a single senior management team. The following tables, narrative and footnotes discuss the compensation of our Chief Executive Officer, our Chief Financial Officer and our three other most highly compensated executive officers for the year ended November 30, 2018, who are referred to as the Named Executive Officers. Mr. Thamm’s cash compensation was payable in euro. These euro amounts have been converted into U.S. dollars at the average U.S. dollar to euro exchange rate for fiscal 2018 of $1.19:1.

Summary Compensation Table

 

Name and

Principal Position

 

Fiscal

Year

 

Salary

($)

 

Stock

Awards(1)

($)

 

Non-Equity

Incentive Plan

Compensation

($)

 

All Other

Compensation(2)

($)

 

Total

($)

Arnold W. Donald

      2018       1,500,000       7,028,094       4,689,000       289,790       13,505,884   

    President & CEO

      2017       1,500,000       6,821,713       4,377,000       347,362       13,046,075   
      2016       1,000,000       4,598,986       4,041,250       241,584       9,881,820   

David Bernstein

      2018       750,000       1,959,205       1,563,000       283,589       4,555,794   

    CFO & CAO

      2017       750,000       2,094,331       1,459,000       221,746       4,525,077   
      2016       700,000       1,641,451       1,448,750       256,949       4,047,150   

Stein Kruse

      2018       925,000       2,704,688       1,808,400       78,305       5,516,393   

    Group CEO of Holland

      2017       925,000       2,713,268       2,097,600       95,117       5,830,985   

    America Group & Carnival UK

      2016       825,000       2,096,489       1,654,400       83,270       4,659,159   

Arnaldo Perez

      2018       450,000       996,096       703,350       256,462       2,405,908   

    General Counsel & Secretary

      2017       450,000       1,024,532       656,550       238,623       2,369,705   

Michael Thamm

      2018       1,023,698       2,415,232       1,760,981 (3)        83,666       5,283,577   

    CEO of Costa

      2017       963,480       2,306,767       912,442       117,534       4,300,223   

    Group & Carnival Asia

      2016       777,000       1,479,178       1,053,945       214,217       3,524,340   
(1)

No stock option grants were made in fiscal 2016 through 2018. The amounts included in the “Summary Compensation Table” reflect the grant date fair value, assuming no risk of forfeiture of the grants of Carnival Corporation restricted shares and Carnival plc RSUs made to our Named Executive Officers in fiscal 2018, calculated in accordance with ASC 718. The valuation of share-based grants is discussed in Notes 2 and 12 to the financial statements in the Carnival Corporation & plc joint Annual Report on Form 10-K for the year ended November 30, 2018. The amounts reflect the grant date fair value (100% of target) of the annual SEA grants made in January 2018 and PBS grants made in April 2018, calculated in accordance with ASC 718. The grant date fair value of the annual SEA grants and PBS grants assuming combined maximum performance (being 600% and 200% of target, respectively) is $17,037,990 for Mr. Donald, $4,853,732 for Mr. Bernstein, $6,184,421 for Mr. Kruse, $1,788,350 for Mr. Perez and $6,525,700 for Mr. Thamm. For the proceeds actually received by the Named Executive Officers upon the vesting of restricted shares or RSUs, see the “Stock Vested for Fiscal 2018” table. For the grant date fair value of equity grants made to our Named Executive Officers as compensation for fiscal 2018, which grants were made in January 2019, see the “Equity Grants Made During Fiscal 2019 as Compensation for Fiscal 2018” table.

(2)

See the “All Other Compensation” table for additional information.

(3)

A portion of Mr. Thamm’s non-equity incentive compensation was paid in Carnival plc shares.

 

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