Jeffrey J. McCall - 28 Feb 2023 Form 4 Insider Report for LENNAR CORP /NEW/ (LEN)

Signature
/s/ Mark Sustana as attorney-in-fact for Jeff McCall
Issuer symbol
LEN
Transactions as of
28 Feb 2023
Net transactions value
-$1,030,184
Form type
4
Filing time
02 Mar 2023, 15:39:21 UTC
Previous filing
16 Feb 2023
Next filing
17 May 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +18,100 +13% $0.000000 160,427 28 Feb 2023 Direct F1
transaction LENB Class A Common Stock Award $0 +11,608 +7.2% $0.000000 172,035 28 Feb 2023 Direct F2
transaction LENB Class A Common Stock Tax liability $1,030,184 -10,649 -6.2% $96.74 161,386 28 Feb 2023 Direct F3
holding LENB Class B Common Stock 2,883 28 Feb 2023 Direct
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 9,050 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 9,050 shares granted vest in three equal amounts on each of February 14, 2024, February 14, 2025 and February 14, 2026, subject to forfeiture in accordance with the terms of the grant.
F2 On February 28, 2020, the reporting person was granted a target award of 12,429 shares of Class A common stock subject to performance-based vesting conditions over a three-year performance period ended November 30, 2022. This grant was reported when it occurred. As a result of meeting specified performance criteria, on February 28, 2023, the 12,429 shares of Class A common stock vested and the reporting person was granted an additional 11,608 shares of Class A common stock.
F3 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 The grant of shares subject to performance-based vesting conditions was originally made on February 28, 2020.