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: MILLER STUART A (Director, Executive Chairman, 10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-26	Class A Common Stock	A	156194	$0.00	Acquired	1412063	Direct
2021-02-26	Class A Common Stock	F	30732	$82.97	Disposed	1381331	Direct
2021-02-26	Class A Common Stock	A	64520	$0.00	Acquired	1445851	Direct
2021-02-26	Class A Common Stock	F	55759	$82.97	Disposed	1390092	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	121323	Direct
Class A Common Stock	14476	Indirect
Class A Common Stock	19187	Indirect
Class B Common Stock	2397	Indirect
Class B Common Stock	21629137	Indirect

Footnotes

F1: 78,097 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 78,097 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: 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.

F3: On February 14, 2018, the reporting person was granted a target award of 77,178 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 77,178 shares of Class A common stock vested and the reporting person was granted an additional 64,520 shares of Class A common stock.

F4: 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 The grant of shares subject to performance-based vesting conditions was originally made on February 14, 2018.

F5: Mr. Miller has sole voting and investment power with respect to these shares, even though he has only limited pecuniary interest in these shares. Mr. Miller disclaims beneficial ownership of these shares except to the extent of such pecuniary interest.