LENNAR CORP /NEW/ — Director's Dealing 2023

Mar 2, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2023-02-28

Reporting Person: BECKWITT RICHARD (Director, Co-CEO & Co-President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-02-28	Class A Common Stock	A	239825	$0.00	Acquired	2104373	Direct
2023-02-28	Class A Common Stock	F	28313	$96.74	Disposed	2076060	Direct
2023-02-28	Class A Common Stock	A	88538	$0.00	Acquired	2164598	Direct
2023-02-28	Class A Common Stock	F	72142	$96.74	Disposed	2092456	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Common Stock	6000	Indirect
Class B Common Stock	21501	Direct
Class B Common Stock	120	Indirect

Footnotes

F1: 167,875 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 71,950 of the shares of Class A common stock granted vest in three equal amounts on each of February 14, 2024, February 14, 2025 and February 14, 2026. 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 28, 2023.

F3: On February 28, 2020, the reporting person was granted a target award of 94,795 shares of Class A common stock subject to performance-based vesting conditions over a three-year performance period ended November 30, 2022. This grant was reported when it occurred. As a result of meeting specified performance criteria, on February 28, 2023, the 94,795 shares of Class A common stock vested and the reporting person was granted an additional 88,538 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 The grant of shares subject to performance-based vesting conditions was originally made on February 28, 2020.

F5: The shares are held in a trust for the benefit of the reporting person's spouse.