Stuart Miller - Feb 28, 2022 Form 4 Insider Report for LENNAR CORP /NEW/ (LENB)

Role
Executive Chairman, Director, 10%+ Owner
Signature
/s/ Mark Sustana as attorney-in-fact for Stuart Miller
Stock symbol
LENB
Transactions as of
Feb 28, 2022
Transactions value $
-$12,349,872
Form type
4
Date filed
3/2/2022, 03:45 PM
Previous filing
Jan 14, 2022
Next filing
Nov 21, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +211K +15.89% $0.00 1.54M Feb 28, 2022 Direct F1
transaction LENB Class A Common Stock Tax liability -$3.72M -41.4K -2.7% $89.88 1.49M Feb 28, 2022 Direct F2
transaction LENB Class A Common Stock Award $0 +118K +7.91% $0.00 1.61M Feb 28, 2022 Direct F3
transaction LENB Class A Common Stock Tax liability -$8.63M -96K -5.95% $89.88 1.52M Feb 28, 2022 Direct F4
holding LENB Class B Common Stock 121K Feb 28, 2022 Direct
holding LENB Class A Common Stock 14.5K Feb 28, 2022 By Trust F5
holding LENB Class A Common Stock 19.4K Feb 28, 2022 By ESOP Trust
holding LENB Class B Common Stock 2.43K Feb 28, 2022 By ESOP Trust
holding LENB Class B Common Stock 21.6M Feb 28, 2022 By Family Trust F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 105,260 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 105,260 of the shares of Class A common stock granted vest in three equal amounts on each of February 14, 2023, February 14, 2024 and February 14, 2025. 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, 2022.
F3 On June 25, 2019, the reporting person was granted a target award of 125,798 shares of Class A common stock subject to performance-based vesting conditions over a three-year performance period ended November 30, 2021. This grant was reported when it occurred. As a result of meeting specified performance criteria, on February 28, 2022, the 125,798 shares of Class A common stock vested and the reporting person was granted an additional 118,124 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 June 25, 2019.
F5 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.