Lennar (NYSE: LEN) CEO Stuart Miller receives stock grants, withholds shares
Rhea-AI Filing Summary
Lennar Corporation Executive Chairman and CEO Stuart A. Miller, who is also a 10% owner, reported equity awards and related share withholding in Class A common stock on January 20, 2026. He received 161,083 shares of Class A common stock subject to performance-based vesting over a three-year performance period and 69,035 shares of Class A common stock that vest in three equal installments on February 14, 2027, 2028, and 2029. Both grants were recorded at $0.00 per share and are subject to forfeiture under their terms. In connection with a restricted stock grant on January 20, 2026, 25,913 Class A shares were surrendered to Lennar at $115.16 per share to satisfy tax withholding under a Rule 10b5-1 plan. After these transactions, Miller directly held 1,168,244 Class A shares and 121,322 Class B shares, with additional Class A and Class B shares reported as indirectly held through various trusts and ESOP-related accounts.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock | 161,083 | $0.00 | -- |
| Grant/Award | Class A Common Stock | 69,035 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 25,913 | $115.16 | $2.98M |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Footnotes (1)
- The shares of Class A common stock granted are subject to performance-based vesting conditions over a three-year performance period. The grant is subject to forfeiture in accordance with its terms. The shares of Class A common stock granted vest in three equal amounts on each of February 14, 2027, February 14, 2028, and February 14, 2029. The grants are subject to forfeiture in accordance with their terms. Surrendered shares to the Company pursuant to a 10b5-1 plan to satisfy withholding obligations due to a grant of restricted stock on January 20, 2026. These shares are held by a Grantor Retained Annuity Trust ("GRAT 1") of which Mr. Miller is the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 1 but disclaims beneficial ownership except to the extent of his pecuniary interest therein. These shares are held by a Grantor Retained Annuity Trust ("GRAT 2") of which Mr. Miller is the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 2 but disclaims beneficial ownership except to the extent of his pecuniary interest therein. These shares are held by a Grantor Retained Annuity Trust ("GRAT 3") of which Mr. Miller is the sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 3 but disclaims beneficial ownership except to the extent of his pecuniary interest therein. 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. Represents the number of shares indirectly held by the Reporting Person, as reflected in the Reporting Person's Employee Stock Ownership Plan ("ESOP") account on December 31, 2025.
FAQ
What insider transactions did Lennar (LEN) CEO Stuart Miller report on January 20, 2026?
Stuart A. Miller reported awards of 161,083 Class A shares subject to performance-based vesting and 69,035 Class A shares with time-based vesting, both at $0.00 per share, plus the surrender of 25,913 Class A shares at $115.16 per share to cover tax withholding.
How do the new Lennar Class A stock awards to Stuart Miller vest?
The 161,083 Class A shares are subject to performance-based vesting over a three-year period. The 69,035 Class A shares vest in three equal installments on February 14, 2027, February 14, 2028, and February 14, 2029, and all grants are subject to forfeiture under their terms.
What is Stuart Miller’s role at Lennar Corporation as disclosed in this Form 4?
Stuart A. Miller is disclosed as Executive Chairman & CEO of Lennar Corporation and is also reported as a director and a 10% owner.