Stuart Miller - Nov 26, 2025 Form 4 Insider Report for LENNAR CORP /NEW/ (LEN, LEN.B)

Signature
/s/ Mark Liberman as attorney-in-fact for Stuart Miller
Stock symbol
LEN, LEN.B
Transactions as of
Nov 26, 2025
Transactions value $
$0
Form type
4
Date filed
12/1/2025, 05:07 PM
Previous filing
Mar 3, 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
MILLER STUART A Executive Chairman & Co-CEO, Director, 10%+ Owner 5505 WATERFORD DISTRICT DRIVE, MIAMI /s/ Mark Liberman as attorney-in-fact for Stuart Miller 2025-12-01 0001049444

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LEN, LEN.B Class A Common Stock Other -20.1K -2.03% 972K Nov 26, 2025 Direct F1
transaction LEN, LEN.B Class A Common Stock Gift -7.75K -0.8% 964K Nov 26, 2025 Direct F2
holding LEN, LEN.B Class B Common Stock 121K Nov 26, 2025 Direct
holding LEN, LEN.B Class A Common Stock 2.7K Nov 26, 2025 By GRAT 1 F3
holding LEN, LEN.B Class A Common Stock 200K Nov 26, 2025 By GRAT 2 F4
holding LEN, LEN.B Class A Common Stock 500K Nov 26, 2025 By GRAT 3 F5
holding LEN, LEN.B Class A Common Stock 14.5K Nov 26, 2025 By Trust F6
holding LEN, LEN.B Class A Common Stock 20.6K Nov 26, 2025 By ESOP Trust F7
holding LEN, LEN.B Class B Common Stock 2.6K Nov 26, 2025 By ESOP Trust F7
holding LEN, LEN.B Class B Common Stock 21.6M Nov 26, 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 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.

Remarks:

Exhibit 24. Power of Attorney.