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Lennar (NYSE: LEN) director granted RSUs linked to dividend

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Gilliam Theron I reported acquisition or exercise transactions in this Form 4 filing.

Lennar Corp. director Theron I. Gilliam reported a compensation-related equity change. He received 12 shares of Class A Common Stock as restricted stock units issued in respect of his unvested annual RSU grant, reflecting the company’s dividend with a record date of April 22, 2026, under the outside directors’ compensation program.

The RSUs will vest at the same time as the related annual grant, and the value reference used was the closing price of $94.45 per share on the record date. After this grant, Gilliam directly holds 36,809 shares of Class A Common Stock and 432 shares of Class B Common Stock, indicating a routine, non-market award rather than an open-market trade.

Positive

  • None.

Negative

  • None.
Insider Gilliam Theron I
Role null
Type Security Shares Price Value
Grant/Award Class A Common Stock 12 $94.45 $1K
holding Class B Common Stock -- -- --
Holdings After Transaction: Class A Common Stock — 36,809 shares (Direct, null); Class B Common Stock — 432 shares (Direct, null)
Footnotes (1)
  1. Represents restricted stock units ("RSUs") issued in respect of the Reporting Person's unvested annual RSU grant as a result of the dividend on the Issuer's common stock with a record date of April 22, 2026, in accordance with the Issuer's outside directors' compensation program. Such RSUs will vest at the same time as the annual RSU grant to which they relate. Fractional amounts have been rounded to the nearest whole number. Represents the closing price per share of Issuer's common stock as of the record date.
RSU grant 12 shares Restricted stock units issued from dividend adjustment
Reference share price $94.45 per share Closing price on April 22, 2026 record date
Class A holdings 36,809 shares Shares of Class A Common Stock after transaction
Class B holdings 432 shares Shares of Class B Common Stock after transaction
restricted stock units ("RSUs") financial
"Represents restricted stock units ("RSUs") issued in respect of the Reporting Person's unvested annual RSU grant"
Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.
outside directors' compensation program financial
"in accordance with the Issuer's outside directors' compensation program"
record date financial
"as a result of the dividend on the Issuer's common stock with a record date of April 22, 2026"
The record date is the specific day when a company determines which shareholders are eligible to receive a dividend or participate in an upcoming vote. It’s like a cutoff date; if you own the stock on that day, you get the benefits or voting rights. This date matters because it decides who qualifies for certain company benefits.
closing price per share financial
"Represents the closing price per share of Issuer's common stock as of the record date."
Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
Gilliam Theron I
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
04/22/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Class A Common Stock04/22/2026A12(1)A$94.45(2)36,809D
Class B Common Stock432D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Explanation of Responses:
1. Represents restricted stock units ("RSUs") issued in respect of the Reporting Person's unvested annual RSU grant as a result of the dividend on the Issuer's common stock with a record date of April 22, 2026, in accordance with the Issuer's outside directors' compensation program. Such RSUs will vest at the same time as the annual RSU grant to which they relate. Fractional amounts have been rounded 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 Theron I. Gilliam, Jr.04/24/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Lennar (LEN) director Theron I. Gilliam report?

Theron I. Gilliam reported receiving 12 shares of Lennar Class A Common Stock as restricted stock units. These RSUs were issued as part of his unvested annual RSU grant, reflecting a dividend-related adjustment under the company’s outside directors’ compensation program.

How were the 12 RSUs for Lennar (LEN) director Theron I. Gilliam calculated?

The 12 RSUs were issued in respect of Gilliam’s unvested annual RSU grant as a result of a dividend with an April 22, 2026 record date. The filing notes they were valued using Lennar’s closing share price of $94.45 on that record date.

When will Theron I. Gilliam’s new Lennar (LEN) RSUs vest?

The newly issued RSUs will vest at the same time as the underlying annual RSU grant to which they relate. This means their vesting schedule matches Gilliam’s existing director grant, rather than creating a new, separate vesting timeline.

What are Theron I. Gilliam’s Lennar (LEN) share holdings after this Form 4?

Following the reported RSU grant, Gilliam directly holds 36,809 shares of Lennar Class A Common Stock and 432 shares of Class B Common Stock. The filing characterizes this as a routine equity award, not an open-market purchase or sale.

Was Theron I. Gilliam’s Lennar (LEN) Form 4 transaction a market trade?

No, the transaction reflects a grant or award acquisition coded “A,” not an open-market trade. The RSUs were issued in connection with Lennar’s dividend on common stock, consistent with the outside directors’ compensation program, rather than a discretionary stock purchase or sale.