Stuart A. Miller - 28 Feb 2023 Form 4 Insider Report for LENNAR CORP /NEW/ (LEN)

Role: Executive Chairman, Director, 10%+ Owner
Signature: /s/ Mark Sustana as attorney-in-fact for Stuart Miller
Issuer symbol: LEN
Transactions as of: 28 Feb 2023
Net transactions value: -$11,001,079
Form type: 4
Filing time: 02 Mar 2023, 15:45:36 UTC
Previous filing: 28 Dec 2022
Next filing: 22 Dec 2023
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	+273,935	+18%	$0.000000	1,779,170	28 Feb 2023	Direct	F1
transaction	LENB	Class A Common Stock	Tax liability	$3,128,378	-32,338	-1.8%	$96.74	1,746,832	28 Feb 2023	Direct	F2
transaction	LENB	Class A Common Stock	Award	$0	+99,876	+5.7%	$0.000000	1,846,708	28 Feb 2023	Direct	F3
transaction	LENB	Class A Common Stock	Tax liability	$7,872,701	-81,380	-4.4%	$96.74	1,765,328	28 Feb 2023	Direct	F4
holding	LENB	Class B Common Stock						121,323	28 Feb 2023	Direct
holding	LENB	Class A Common Stock						14,476	28 Feb 2023	By Trust	F5
holding	LENB	Class A Common Stock						19,817	28 Feb 2023	By ESOP Trust
holding	LENB	Class B Common Stock						2,494	28 Feb 2023	By ESOP Trust
holding	LENB	Class B Common Stock						21,629,137	28 Feb 2023	By Family Trust	F5

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	191,755 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 82,180 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 106,934 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 106,934 shares of Class A common stock vested and the reporting person was granted an additional 99,876 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	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.