LENNAR CORP /NEW/ — Director's Dealing 2018

Sep 4, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2018-08-31

Reporting Person: STOWELL SCOTT D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-08-31	Class A Common Stock	A	314	$0.00	Acquired	420489	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	8315	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Appreciation Right	$50.34	2020-04-01	Class A Common Stock (98062)	98062	Direct
Stock Appreciation Right	$46.51	2020-10-01	Class A Common Stock (32329)	32329	Direct

Footnotes

F1: These shares were issued in accordance with the Issuer's outside directors' compensation program based on $51.67 per share which was the last reported sale price of the Issuer's Class A common stock on August 31, 2018, the last trading day of the Issuer's fiscal quarter. The shares are not transferable until August 31, 2021, subject to specified exceptions.

F2: Appreciation is capped at $22.60 per stock appreciation right.

F3: For each share of Class A common stock received by the Reporting Person by exercising the stock appreciation right, the Reporting Person will also receive .02 shares of Class B common stock.

F4: Appreciation is capped at $22.60 per stock appreciation right.