Diane Bessette - Feb 28, 2023 Form 4 Insider Report for LENNAR CORP /NEW/ (LENB)

Role
VP/CFO/Treasurer
Signature
/s/ Mark Sustana as attorney-in-fact for Diane Bessette
Stock symbol
LENB
Transactions as of
Feb 28, 2023
Transactions value $
-$1,707,171
Form type
4
Date filed
3/2/2023, 03:41 PM
Previous filing
Mar 2, 2022
Next filing
Mar 24, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +33.6K +12.87% $0.00 295K Feb 28, 2023 Direct F1
transaction LENB Class A Common Stock Tax liability -$640K -6.61K -2.24% $96.74 288K Feb 28, 2023 Direct F2
transaction LENB Class A Common Stock Award $0 +13.5K +4.7% $0.00 302K Feb 28, 2023 Direct F3
transaction LENB Class A Common Stock Tax liability -$1.07M -11K -3.66% $96.74 291K Feb 28, 2023 Direct F4
holding LENB Class A Common Stock 3.48K Feb 28, 2023 By spouse as UTMA FL custodian for minor child F5
holding LENB Class A Common Stock 3.48K Feb 28, 2023 By reporting person as UTMA FL for minor child F6
holding LENB Class B Common Stock 69 Feb 28, 2023 Direct
holding LENB Class B Common Stock 3.51K Feb 28, 2023 By spouse as UTMA FL custodian for minor child F5
holding LENB Class B Common Stock 3.51K Feb 28, 2023 By reporting person as UTMA FL for minor child F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 16,800 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 16,800 of the shares of Class A common stock granted vest in three equal amounts on each of February 14, 2024, February 14, 2025 and February 14, 2026. 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, 2023.
F3 On February 28, 2020, the reporting person was granted a target award of 14,501 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 14,501 shares of Class A common stock vested and the reporting person was granted an additional 13,543 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 February 28, 2020.
F5 Shares are held of record by the reporting person's spouse as custodian for a minor child under the Uniform Transfer to Minors Act (FL). The reporting person disclaims beneficial ownership of these shares and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.
F6 Shares are held of record by the reporting person as custodian for a minor child under the Uniform Transfer to Minors Act (FL). The reporting person disclaims beneficial ownership of these shares and this report shall not be deemed an admission that the reporting person is the beneficial owner of these securities for purposes of Section 16 or for any other purpose.