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Carnival Corporation Enters Compensation Protection Agreements with Named Executive Officers.
ByAinvest
Monday, Aug 11, 2025 2:03 am ET1min read
Carnival Corporation & plc filed a joint current report on Form 8-K with the U.S. Securities and Exchange Commission on August 8, 2025. The company entered into compensation protection and restrictive covenants agreements with certain Named Executive Officers on August 6, 2025. A copy of the report is available on the company's website.
Carnival Corporation & plc has submitted a joint current report on Form 8-K with the U.S. Securities and Exchange Commission (SEC) on August 8, 2025. The report details the company's recent actions, including the entry into compensation protection and restrictive covenants agreements with certain Named Executive Officers on August 6, 2025. A copy of the report is available on the company's website.The agreements, which are expected to be filed as exhibits to the company’s quarterly report for the period ending August 31, 2025, outline severance formulas and restrictive covenants for four executive officers. These include the CEO Josh Weinstein, CFO David Bernstein, Chief Human Resources Officer Bettina Deynes, and General Counsel Enrique Miguez. The CEO is eligible for two times his annualized base salary and two times his annual target cash bonus, payable in equal installments over two years. The other officers are eligible for one times annualized base salary and 0.5 times their annual target cash bonus, payable over one year. The agreements also include confidentiality, non-competition, non-disparagement, and non-solicitation covenants, with non-compete and non-solicitation durations of two years for the CEO and one year for the other officers following termination [2].
This development follows the company's recent earnings report, where Carnival Corporation reported earnings of $0.35 per share for the recent quarter, exceeding analysts' expectations. The company's revenue for the quarter was $6.33 billion, up 9.5% year-over-year. Institutional investors now hold 67.19% of Carnival's stock, with several funds significantly increasing their positions in the last quarter [1].
References:
[1] https://www.marketbeat.com/instant-alerts/filing-vanguard-group-inc-has-233-billion-stake-in-carnival-corporation-nyseccl-2025-08-09/
[2] https://www.stocktitan.net/sec-filings/CCL/8-k-carnival-corporation-reports-material-event-f18e3099ad13.html
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