SEC Filings

CARNIVAL CORP filed this Form DEF 14A on 03/07/2019
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Table of Contents


Compensation Tables



Represents the aggregate incremental cost to Carnival Corporation & plc for travel on the Aircraft not related to company business. The aggregate incremental cost for the use of the Aircraft for personal travel is calculated by multiplying the hourly variable cost rate for the Aircraft used by the hours used. The hourly variable cost rate primarily includes fuel, airport handling and other fees, Aircraft repairs and maintenance, crew expenses and catering. The hourly variable cost rate is recomputed annually to reflect changes in costs. Fixed costs which do not change based on usage, such as pilots’ salaries, Aircraft depreciation and overhead costs, are excluded.


Includes the total amount of other benefits provided, none of which individually exceeded $10,000 for the designated Named Executive Officer. These other benefits include: automobile repair and expenses, life insurance premiums and gross-ups for a portion of income taxes for spousal travel.

Additional information with respect to Carnival plc’s compensation and reimbursement practices during fiscal 2018 for Non-Executive Directors is included in Part II of the Carnival plc Directors’ Remuneration Report, which is attached as Annex B to this Proxy Statement.

Grants of Plan-Based Awards in Fiscal 2018

Equity grants and non-equity awards made to the Named Executive Officers during fiscal 2018 are as follows:


    Grant           Estimated Possible Payouts
Under Non-Equity Incentive
Plan Awards(1)
    Estimated Possible Payouts
Under Equity Incentive Plan

All Other



Number of

Shares of

Stock or



Grant Date

Fair Value

of Stock




  Type     Grant Date     Threshold     Target     Maximum     Threshold     Target     Maximum     (#)     ($)  

Arnold W. Donald

        1,500,000       3,000,000       6,000,000            
    MTE       1/16/2018                   31,939       2,188,460  
    PBS       2/12/2018             21,812       43,623       87,246         2,999,954  
    SEA       4/10/2018             17,500       35,000       210,000         1,839,681  

David Bernstein

        500,000       1,000,000       2,000,000            
    MTE       1/16/2018                   8,517       583,585  
    PBS       2/12/2018             6,180       12,360       24,720         849,997  
    SEA       4/10/2018             5,000     10,000       60,000         525,623  

Stein Kruse

        600,000       1,200,000       2,400,000            
    MTE       1/16/2018                   12,755       873,973  
    PBS       2/12/2018             8,725       17,449       34,898         1,199,968  
    SEA       4/10/2018             6,000     12,000     72,000         630,748  

Arnaldo Perez

        225,000       450,000       900,000            
    MTE       1/16/2018                   5,323       364,732  
    PBS       2/12/2018             3,635       7,270       14,540         499,958  
    SEA       4/10/2018             1,250       2,500       15,000         131,406  

Michael Thamm

        664,020       1,328,040       2,656,080            
    MTE       1/16/2018                   6,042       413,877 (5)  
    PBS       2/12/2018             10,237       20,474       40,948         1,370,607 (6)  
    SEA       4/10/2018             6,000       12,000       72,000         630,748 (7)  

Represents the potential value of the payout of the annual bonuses under the Management Incentive Plan for fiscal 2018 performance. The Non-Equity Incentive Plan awards were made under the Management Incentive Plan. The actual amount of a Named Executive Officer’s annual bonus paid in fiscal 2019 for fiscal 2018 performance is shown in the “Summary Compensation Table” in the “Non-Equity Incentive Plan Compensation” column. For a more detailed description of the potential payout under each plan, see the description in the “2018 Annual Bonuses” section of the Compensation Discussion and Analysis.


Represents the potential number of shares under the annual PBS and SEA grants. For a more detailed description of the potential payout under annual PBS and SEA grants, see the description in the “Fiscal 2018 Annual Grants” section of the Compensation Discussion and Analysis.


Represents the number of shares under the annual MTE grants made in fiscal 2018 under the Carnival Corporation 2011 Stock Plan, with the exception of Mr. Thamm. Mr. Thamm received an MTE grant under the Carnival plc 2014 Employee Share Plan.


58            LOGO Carnival Corporation & plc 2019 Proxy Statement