LENNAR CORP /NEW/ — Director's Dealing 2012

Jan 20, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2012-01-18

Reporting Person: Collins David M (Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-01-18	Class A Common Stock	F	1830	$22.03	Disposed	89420	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	1209	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$26.32	2012-01-25	Class A Common Stock (4200)	4200	Direct
Stock Option (Right to Buy)	$13.54	2013-07-23	Class A Common Stock (25000)	25000	Direct
Stock Option (Right to Acquire)	$0.00	2012-01-25	Class B Common Stock (420)	420	Direct

Footnotes

F1: Surrendered shares to pay tax liability on vesting restricted stock pursuant to a 10b5-1 plan. The restricted stock was originally granted on January 17, 2008.

F2: These stock options become exercisable in installments of 25% on each of the first four anniversaries of the grant date.

F3: Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock.