Cruise Industry News reports that Carnival Corporation recently confirmed in a SEC filing that it had extended CEO Arnold Donald’s employment agreement for an additional year.
You can see the original terms of his three year employment plan filed with the SEC in 2013 here.
Mr. Donald collected $9,373,908 in 2015.
The SEC also reflects in a seperate filing that on October 20, 2016, Mr. Arnold sold 91,813 shares of Carnival stock, totaling $4,285,142, in multiple trades at prices ranging from $46.51 to $46.99 for an average price of price of $46.70. Mr. Donald reportedly currently owns 532,340 shares of CCL stock which, at today’s value, is worth $24,892,218.40.
Mr. Arnold is generally considered to have done a good job guiding the cruise line after a disastrous series of groundings and engine room fires several years ago. He has overseen Carnival while it invested attention and money toward the maintenance of its fleet of over 100 cruise ships; however, Mr. Donald remains susceptible to criticism by overworking and underpaying Carnival crew members.
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