LENNAR CORP /NEW/ - 26 Nov 2025 Form 4 Insider Report for Millrose Properties, Inc. (MRP)

Role
10%+ Owner
Signature
/s/ Mark Liberman, Assistant Secretary for Lennar Corporation
Issuer symbol
MRP
Transactions as of
26 Nov 2025
Transactions value $
$0
Form type
4
Filing time
01 Dec 2025, 17:17:26 UTC
Previous filing
07 Feb 2025

Reporting Owners (1)

Name Relationship Address Signature Signature date CIK
LENNAR CORP /NEW/ 10%+ Owner C/O MILLROSE PROPERTIES, INC., 600 BRICKELL AVENUE, SUITE 1400, MIAMI /s/ Mark Liberman, Assistant Secretary for Lennar Corporation 01 Dec 2025 0000920760

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MRP Class A Common Stock Other -33.3M -99.99% 1.79K 26 Nov 2025 Direct F1, F2, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

LENNAR CORP /NEW/ is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id Content
F1 On October 10, 2025, the Reporting Person commenced an offer to holders of shares of Lennar Class A Common Stock to exchange Lennar Class A Common Stock for Millrose Properties, Inc. ("Millrose") Class A Common Stock. On November 26, 2025, the Reporting Person announced the final results of the exchange offer and confirmed that 8,049,594 shares of tendered Lennar Class A Common Stock were accepted in exchange for 33,298,754 shares of Millrose Class A Common Stock, representing a final exchange ratio of 4.1367 shares of Millrose Class A Common Stock per share of Lennar Class A Common Stock accepted in the exchange offer.
F2 Shares held by the Reporting Person as of the Transaction Date include 100,495 shares of Millrose Class A Common Stock that were returned to the Reporting Person in non-volitional transactions in connection with forfeitures of unvested restricted stock awards by employees of the Reporting Person. On February 7, 2025, the Reporting Person completed its spin-off of Millrose Properties Inc. ("Millrose"). In connection with the spin-off, employees of the Reporting Person holding unvested restricted stock awards previously granted by the Reporting Person received shares of Millrose Class A Common Stock or Millrose Class B Common Stock, depending on their election.
F3 (Continued from footnote 2) These shares of Millrose common stock are subject to the same vesting conditions, forfeiture terms and other restrictions as the unvested restricted stock awards to which they relate. As such, any such shares of Millrose common stock will be forfeited back to the Reporting Person if the unvested restricted stock awards are forfeited by their terms.