Jonathan M. Jaffe - Feb 28, 2022 Form 4 Insider Report for LENNAR CORP /NEW/ (LENB)

Role
Co-CEO & Co-President, Director
Signature
/s/ Mark Sustana as Attorney-in-Fact for Jonathan M. Jaffe
Stock symbol
LENB
Transactions as of
Feb 28, 2022
Transactions value $
-$9,994,656
Form type
4
Date filed
3/2/2022, 03:49 PM
Previous filing
Jan 14, 2022
Next filing
May 27, 2022

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +185K +41.56% $0.00 629K Feb 28, 2022 Direct F1
transaction LENB Class A Common Stock Tax liability -$3.27M -36.4K -5.78% $89.88 593K Feb 28, 2022 Direct F2
transaction LENB Class A Common Stock Award $0 +92.1K +15.53% $0.00 685K Feb 28, 2022 Direct F3
transaction LENB Class A Common Stock Tax liability -$6.73M -74.8K -10.92% $89.88 610K Feb 28, 2022 Direct F4
holding LENB Class A Common Stock 2.67K Feb 28, 2022 By ESOP Trust
holding LENB Class B Common Stock 23.2K Feb 28, 2022 Direct
holding LENB Class B Common Stock 334 Feb 28, 2022 By ESOP Trust
* 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 stock on February 28, 2022.
F3 On June 25, 2019, the reporting person was granted a target award of 98,092 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 98,092 shares of Class A common stock vested and the reporting person was granted an additional 92,108 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 The grant of shares subject to performance-based vesting conditions was originally made on June 25, 2019.