stock cratered last year, as the coronavirus pandemic wiped out the market for cruises, and in mid-January, three top executives, including chief executive Arnold Donald, sold shares.
Carnival (ticker: CCL) shares plunged 67% in 2020, and that was following a December boost.
On Jan. 11, Carnival stock dipped after the company preliminarily reported a large fourth-quarter loss. The shares are now down about 5% this year.
CEO Donald sold 62,639 Carnival shares on Jan. 14 for $1.3 million, an average per share price of $21.12. According to a form he filed with the Securities and Exchange Commission, Donald now owns 170,371 shares, including dividend-equivalent stock associated with the release of restricted share units. He owns another 565,199 shares through a trust that he controls.
Chief Financial Officer David Bernstein sold 49,031 Carnival shares on Jan. 14 for a total of $1 million, an average price of $21.12 each. He now owns 74,156, including dividend-equivalent shares.
Arnaldo Perez, general counsel and secretary, sold 14,215 Carnival shares for $300,220, also on Jan. 14 and at a per share average price of $21.12. Perez now owns 31,357 shares, including dividend-equivalent shares. Perez also owns another 34,832 Carnival shares through a trust.
Carnival didn’t respond to a request to make the executives available for comment on their stock sales.
None of the executives sold stock last year.
Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.