Lennar director Armando J. Olivera acquires 24 stock units

The director-fee units are fully vested; annual-grant units vest with the related grant, and neither converts to Class A shares until board service ends.

Rhea-AI Filing Summary

LENNAR CORP director Armando J. Olivera acquired 24 deferred stock units on October 7, 2026, in connection with the dividend record date under the outside directors’ compensation program. The units include deferred quarterly director-fee DSUs and annual grant DSUs, including dividend equivalents. The director-fee units are fully vested; annual grant units vest with the related annual grant, and neither converts into Class A Common Stock until he ceases to be a board member. The common stock closing price was $76.13 per share on the record date. His reported direct Class A position following the transaction was 23,371 shares; a separate holding entry lists 142 Class B shares.

Insider Trade Summary

Grant/Award: 24 shares

Grant/Award 2 txns

Insider OLIVERA ARMANDO J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Class A Common Stock F1, F2	24	$76.13	$2K
holding	Class B Common Stock	--	--	--

Holdings After Transaction: Class A Common Stock — 23,371 shares (Direct); Class B Common Stock — 142 shares (Direct)

Footnotes (2)

1. F1. Represents deferred stock units ("DSUs") issued in respect of the Reporting Person's deferred quarterly cash director's fee (the "Director's Fee DSUs") and DSUs issued in respect of the Reporting Person's unvested annual DSU grant (the "Annual Grant DSUs") (including dividend equivalents in respect of both the Director's Fee DSUs and Annual Grant DSUs), each as a result of the dividend on the Issuer's common stock with a record date of October 7, 2026, in accordance with the Issuer's outside directors' compensation program. The Director's Fee DSUs are fully vested and the Annual Grant DSUs will vest at the same time as the annual DSU grant to which they relate, but neither will convert into shares of Class A Common Stock until the Reporting Person ceases to be a member of the Board of Directors. Fractional amounts have been rounded down to the nearest whole number.
2. F2. Represents the closing price per share of Issuer's common stock as of the record date.

Key Figures

Deferred stock units acquired: 24 units Common stock closing price: $76.13 per share Reported direct Class A position: 23,371 shares +1 more

4 metrics

Deferred stock units acquired 24 units October 7, 2026

Common stock closing price $76.13 per share As of the October 7, 2026 record date

Reported direct Class A position 23,371 shares Following the October 7, 2026 transaction

Class B holding 142 shares Reported direct holding entry dated October 7, 2026

Key Terms

deferred stock units, Director's Fee DSUs, Annual Grant DSUs, dividend equivalents, +1 more

5 terms

deferred stock units financial

"Represents deferred stock units ("DSUs") issued"

Deferred stock units are promises from a company to give an employee shares of stock at a future date, often after certain conditions are met or after leaving the company. They function like a form of delayed compensation, allowing employees to earn shares over time. For investors, they represent potential future ownership in the company, but do not provide immediate voting rights or dividends until the shares are actually received.

Director's Fee DSUs financial

"the Reporting Person's deferred quarterly cash director's fee"

Annual Grant DSUs financial

"DSUs issued in respect of the Reporting Person's unvested annual DSU grant"

dividend equivalents financial

"including dividend equivalents in respect of both the Director's Fee DSUs and Annual Grant DSUs"

Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.

outside directors' compensation program financial

"in accordance with the Issuer's outside directors' compensation program"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many deferred stock units did LEN director Armando J. Olivera acquire?

Armando J. Olivera acquired 24 deferred stock units on October 7, 2026. They were issued in connection with the dividend record date and include units related to his deferred quarterly cash director’s fee and unvested annual DSU grant, along with dividend equivalents.

What does the $76.13 figure mean for LEN?

The $76.13 per-share figure is the closing price of Lennar common stock as of the October 7, 2026 record date.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 10/08/2026 - 06:52 PM Accepted by SEC EDGAR 10/08/2026 - 06:51 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

OLIVERA ARMANDO J

(Last) (First) (Middle)

5505 WATERFORD DISTRICT DRIVE

(Street)

MIAMI FLORIDA 33126

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LENNAR CORP /NEW/ [ LEN, LEN.B ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/07/2026		A		24(1)	A	$76.13(2)	23,371	D
Class B Common Stock								142	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents deferred stock units ("DSUs") issued in respect of the Reporting Person's deferred quarterly cash director's fee (the "Director's Fee DSUs") and DSUs issued in respect of the Reporting Person's unvested annual DSU grant (the "Annual Grant DSUs") (including dividend equivalents in respect of both the Director's Fee DSUs and Annual Grant DSUs), each as a result of the dividend on the Issuer's common stock with a record date of October 7, 2026, in accordance with the Issuer's outside directors' compensation program. The Director's Fee DSUs are fully vested and the Annual Grant DSUs will vest at the same time as the annual DSU grant to which they relate, but neither will convert into shares of Class A Common Stock until the Reporting Person ceases to be a member of the Board of Directors. Fractional amounts have been rounded down to the nearest whole number.

2. Represents the closing price per share of Issuer's common stock as of the record date.

	/s/ Mark Liberman as attorney-in-fact for Armando J. Olivera	10/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)