LENNAR CORP /NEW/ — Director's Dealing 2025

Dec 1, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LENNAR CORP /NEW/ (LEN, LEN.B)
CIK: 0000920760
Period of Report: 2025-11-26

Reporting Person: MILLER STUART A (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-26	Class A Common Stock	J	20129	—	Disposed	971789	Direct
2025-11-26	Class A Common Stock	G	7750	—	Disposed	964039	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Class B Common Stock	121323	Direct
Class A Common Stock	2695	Indirect
Class A Common Stock	200000	Indirect
Class A Common Stock	500000	Indirect
Class A Common Stock	14476	Indirect
Class A Common Stock	20607	Indirect
Class B Common Stock	2600	Indirect
Class B Common Stock	21619137	Indirect

Footnotes

F1: Represents shares of Lennar Class A Common Stock that were validly tendered by the Reporting Person and accepted by Lennar in connection with the exchange offer by Lennar of Millrose Properties, Inc. ("Millrose") Class A Common Stock for shares of Lennar Class A Common Stock. The Reporting Person received a number of shares of Millrose Class A Common Stock, calculated at a ratio of 4.1367 shares of Millrose Class A Common Stock per share of Lennar Class A Common Stock accepted in the exchange offer, subject to cash in lieu payment of fractional shares.

F2: These shares represent the donation by the Reporting Person of shares of Lennar Class A Common Stock to a charitable institution.

F3: These shares are held by a Grantor Retained Annuity Trust ("GRAT 1") of which Mr. Miller is the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 1 but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

F4: These shares are held by a Grantor Retained Annuity Trust ("GRAT 2") of which Mr. Miller is the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 2 but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

F5: These shares are held by a Grantor Retained Annuity Trust ("GRAT 3") of which Mr. Miller is the sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 3 but disclaims beneficial ownership except to the extent of his pecuniary interest therein.

F6: 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.

F7: Represents the number of shares indirectly held by the Reporting Person, as reflected in the Reporting Person's Employee Stock Ownership Plan ("ESOP") account on October 31, 2025.