LENNAR CORP /NEW/ — Director's Dealing 2018

May 16, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2018-05-14

Reporting Person: McCall Jeffrey Joseph (Senior Vice President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-05-14	Class B Common Stock	F	321	$43.65	Disposed	3474	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	139165	Direct

Holdings (Derivative)

Security	Exercise Price	Expiration	Underlying	Shares	Ownership
Stock Option (Right to Buy)	$21.47	2018-06-01	Class A common stock (50887)	50887	Direct
Stock Appreciation Right	$50.34	2020-04-01	Class A common stock (39224)	39224	Direct
Stock Appreciation Right	$46.51	2020-10-01	Class A common stock (12931)	12931	Direct

Footnotes

F1: Surrendered shares to the Company to satisfy a withholding obligation.

F2: For each share of Class A common stock received by the Reporting Person by exercising the option, the Reporting Person will also receive .02 shares of Class B common stock.

F3: Appreciation is capped at $22.60 per stock appreciation right.

F4: 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.