LENNAR CORP /NEW/ — Director's Dealing 2019

Oct 21, 2019

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2019-10-17

Reporting Person: STOWELL SCOTT D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2019-10-17	Class A Common Stock	M	18384	$50.34	Acquired	442236	Direct
2019-10-17	Class A Common Stock	F	7895	$61.05	Disposed	434341	Direct
2019-10-17	Class A Common Stock	M	8048	$46.51	Acquired	442389	Direct
2019-10-17	Class A Common Stock	F	4034	$61.05	Disposed	438355	Direct
2019-10-17	Class B Common Stock	M	472	$0.00	Acquired	8787	Direct
2019-10-17	Class B Common Stock	F	276	$48.47	Disposed	8511	Direct
2019-10-17	Class B Common Stock	M	206	$0.00	Acquired	8717	Direct
2019-10-17	Class B Common Stock	F	125	$48.47	Disposed	8592	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2019-10-17	Stock Appreciation Right	$50.34	M	98062	Disposed	2020-04-01	Class A Common Stock (98062)	Direct
2019-10-17	Stock Appreciation Right	$46.51	M	32329	Disposed	2020-10-01	Class A Common Stock (32329)	Direct

Footnotes

F1: The stock appreciation rights are stock settled and entitle the Reporting Person to shares of Class A common stock with a value based on the difference between the exercise price of $50.34 and the value of the shares at the time of exercise. The stock appreciation rights had an expiration date of April 1, 2020.

F2: The stock appreciation rights are stock settled and entitle the Reporting Person to shares of Class A common stock with a value based on the difference between the exercise price of $46.51 and the value of the shares at the time of exercise. The stock appreciation rights had an expiration date of October 1, 2020.

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