Richard Beckwitt - 28 Feb 2022 Form 4 Insider Report for LENNAR CORP /NEW/ (LEN)

Role
Co-CEO & Co-President, Director
Signature
/s/ Mark Sustana as attorney-in-fact for Richard Beckwitt
Issuer symbol
LEN
Transactions as of
28 Feb 2022
Net transactions value
-$10,928,240
Form type
4
Filing time
02 Mar 2022, 15:47:11 UTC
Previous filing
14 Jan 2022
Next filing
05 Aug 2022
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +184,780 +11% $0.000000 1,803,774 28 Feb 2022 Direct F1
transaction LENB Class A Common Stock Tax liability $3,267,677 -36,356 -2% $89.88 1,767,418 28 Feb 2022 Direct F2
transaction LENB Class A Common Stock Award $0 +104,891 +5.9% $0.000000 1,872,309 28 Feb 2022 Direct F3
transaction LENB Class A Common Stock Tax liability $7,660,562 -85,231 -4.6% $89.88 1,787,078 28 Feb 2022 Direct F4
holding LENB Class A Common Stock 6,000 28 Feb 2022 By Trust F5
holding LENB Class B Common Stock 21,501 28 Feb 2022 Direct
holding LENB Class B Common Stock 120 28 Feb 2022 By Trust F5
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 92,390 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 92,390 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 111,706 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 111,706 shares of Class A common stock vested and the reporting person was granted an additional 104,891 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 The shares are held in a trust for the benefit of the reporting person's spouse.