Stuart A. Miller - 13 Jan 2025 Form 4 Insider Report for LENNAR CORP /NEW/ (LEN)

Role: Executive Chairman & Co-CEO, Director, 10%+ Owner
Signature: /s/ Mark Sustana as attorney-in-fact for Stuart Miller
Issuer symbol: LEN
Transactions as of: 13 Jan 2025
Net transactions value: -$2,985,550
Form type: 4
Filing time: 15 Jan 2025, 17:25:21 UTC
Previous filing: 02 Oct 2024
Next filing: 17 Jan 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LEN, LEN.B	Class A Common Stock	Award	$0	+140,981	+10%	$0.000000	1,548,857	13 Jan 2025	Direct	F1
transaction	LEN, LEN.B	Class A Common Stock	Award	$0	+60,420	+3.9%	$0.000000	1,609,277	13 Jan 2025	Direct	F2
transaction	LEN, LEN.B	Class A Common Stock	Tax liability	$2,985,550	-22,690	-1.4%	$131.58	1,586,587	13 Jan 2025	Direct	F3
holding	LEN, LEN.B	Class B Common Stock						121,323	13 Jan 2025	Direct
holding	LEN, LEN.B	Class A Common Stock						6,660	13 Jan 2025	By GRAT 1	F4
holding	LEN, LEN.B	Class A Common Stock						200,000	13 Jan 2025	By GRAT 2	F5
holding	LEN, LEN.B	Class A Common Stock						14,476	13 Jan 2025	By Trust	F6
holding	LEN, LEN.B	Class A Common Stock						20,255	13 Jan 2025	By ESOP Trust	F7
holding	LEN, LEN.B	Class B Common Stock						2,554	13 Jan 2025	By ESOP Trust	F7
holding	LEN, LEN.B	Class B Common Stock						21,619,137	13 Jan 2025	By Family Trust	F6

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The shares of Class A common stock granted are subject to performance-based vesting conditions over a three-year performance period. The grant is subject to forfeiture in accordance with its terms.
F2	The shares of Class A common stock granted vest in three equal amounts on each of February 14, 2026, February 14, 2027, and February 14, 2028. The grants are subject to forfeiture in accordance with their terms.
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 January 13, 2025.
F4	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.
F5	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.
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 December 31, 2024.