LENNAR CORP /NEW/ — Director's Dealing 2021

Mar 2, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2021-02-26

Reporting Person: JAFFE JONATHAN M (Director, Co-CEO & Co-President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-26	Class A Common Stock	A	136624	$0.00	Acquired	423144	Direct
2021-02-26	Class A Common Stock	F	33870	$82.97	Disposed	389274	Direct
2021-02-26	Class A Common Stock	A	50792	$0.00	Acquired	440066	Direct
2021-02-26	Class A Common Stock	F	55306	$82.97	Disposed	384760	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	149863	Indirect
Class A Common Stock	2641	Indirect
Class B Common Stock	46305	Indirect
Class B Common Stock	330	Indirect

Footnotes

F1: 68,312 of the shares of Class A common stock granted are subject to performance-based vesting conditions over a three-year performance period, and the other 68,312 of the shares of Class A common stock granted vest in three equal amounts on each of February 14, 2022, February 14, 2023 and February 14, 2024. The grants are subject to forfeiture in accordance with their terms.

F2: 40,682 shares previously owned directly were contributed to a family trust.

F3: Surrendered shares to the Company pursuant to a 10b5-1 plan to satisfy a withholding obligation due to a grant of restricted stock on February 26, 2021.

F4: On February 14, 2018, the reporting person was granted a target award of 60,757 shares of Class A common stock subject to performance-based vesting conditions over a three-year performance period ended November 30, 2020. This grant was reported when it occurred. As a result of meeting specified performance criteria, on February 26, 2021, the 60,757 shares of Class A common stock vested and the reporting person was granted an additional 50,792 shares of Class A common stock.

F5: Pursuant to a 10b5-1 plan, the reporting person surrendered shares to pay tax liability on the shares of Class A common stock that were subject to performance criteria. The grant of shares subject to performance-based vesting conditions was originally made on February 14, 2018.

F6: These shares are held in a family trust.