LENNAR CORP /NEW/ — Director's Dealing 2010

Mar 3, 2010

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2010-03-01

Reporting Person: BESSETTE DIANE J (Vice President/Treasurer)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-03-01	Class A Common Stock	F	3968	$16.555	Disposed	152059	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	2400	Indirect
Class A Common Stock	2400	Indirect
Class B Common Stock	2009	Direct
Class B Common Stock	2375	Indirect
Class B Common Stock	2375	Indirect

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$18.32	2011-03-06	Class A Common Stock (14000)	14000	Direct
Stock Option (Right to Buy)	$26.32	2012-01-25	Class A Common Stock (14000)	14000	Direct
Stock Option (Right to Buy)	$62.675	2011-01-05	Class A Common Stock (30000)	30000	Direct
Stock Option (Right to Buy)	$13.54	2013-07-23	Class A Common Stock (40000)	40000	Direct
Stock Option (Right to Acquire)	$0.00	2011-03-06	Class B Common Stock (1400)	1400	Direct
Stock Option (Right to Acquire)	$0.00	2012-01-25	Class B Common Stock (1400)	1400	Direct

Footnotes

F1: Surrendered shares to pay tax liability on vesting restricted stock pursuant to a 10b5-1 plan.

F2: Shares are held of record by the Reporting Person's spouse as custodian for a minor child under the Uniform Transfer to Minors Act (FL). The Reporting Person disclaims beneficial ownership of these shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

F3: Shares are held of record by the Reporting Person as custodian for a minor child under the Uniform Transfer to Minors Act (FL). The Reporting Person disclaims beneficial ownership of these shares and this report shall not be deemed an admission that the Reporting Person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.

F4: These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.

F5: Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.