[Form 4] LENNAR CORP /NEW/ Insider Trading Activity

Rhea-AI Filing Summary

Lennar Executive Chairman and CEO Stuart A. Miller reported two non-market dispositions of Lennar stock. On March 16, 2026, he forfeited 55,490 shares of Class A common stock back to the company from a February 28, 2023 performance-based grant after only partial achievement of financial goals.

On the same date, he also surrendered 59,958 Class A shares at $95.95 per share to cover tax liabilities on performance-based shares, under a pre-arranged Rule 10b5-1 trading plan. After these transactions, he directly held 1,149,862 Class A shares and 121,322 Class B shares, plus additional indirect holdings through GRATs, trusts and an ESOP, including 500,000 Class A shares in GRAT 3 and 21,619,137 Class B shares in a family trust.

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).

X

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^*

MILLER STUART A

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Executive Chairman & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/16/2026

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	03/16/2026		D		55,490(1)	D	$0.00	1,209,820(2)	D
Class A Common Stock	03/16/2026		F		59,958(3)	D	$95.95	1,149,862	D
Class B Common Stock								121,322	D
Class A Common Stock								0	I	By GRAT 1(4)
Class A Common Stock								105,629	I	By GRAT 2(5)
Class A Common Stock								500,000	I	By GRAT 3(6)
Class A Common Stock								14,476	I	By Trust(7)
Class A Common Stock								20,692	I	By ESOP Trust(8)
Class B Common Stock								2,612	I	By ESOP Trust(8)
Class B Common Stock								21,619,137	I	By Family Trust(7)

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 shares forfeited from a February 28, 2023 grant of Class A common stock subject to performance-based vesting conditions due to partial satisfaction of certain financial performance goals.

2. Includes 2,695 shares previously held through GRAT 1 and 94,371 shares previously held through GRAT 2, both of which were distributed to the reporting person on March 6, 2026 and are now owned directly.

3. 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, 2023.

4. These shares were held by a Grantor Retained Annuity Trust ("GRAT 1") of which Mr. Miller was the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continued to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 1 but disclaimed beneficial ownership except to the extent of his pecuniary interest therein.

5. 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.

6. 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.

7. 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.

8. 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 February 28, 2026.

	/s/ Mark Liberman as attorney-in-fact for Stuart A. Miller	03/18/2026
	** 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)

FAQ

What insider transactions did Lennar (LEN) CEO Stuart A. Miller report?

Stuart A. Miller reported forfeiting 55,490 Lennar Class A shares to the issuer and surrendering 59,958 Class A shares at $95.95 to cover tax liabilities on performance-based shares, both recorded on March 16, 2026.

Were Stuart A. Miller’s Lennar (LEN) stock transactions open-market sales?

No. The filing describes a disposition to the issuer of 55,490 shares and a tax-withholding surrender of 59,958 shares. Both are non-market transactions, not open-market sales to third-party buyers on an exchange.

How many Lennar (LEN) shares does Stuart A. Miller hold after these transactions?

After the March 16, 2026 transactions, Miller directly holds 1,149,862 Class A shares and 121,322 Class B shares, plus additional indirect holdings through GRATs, trusts and an ESOP, including 500,000 Class A in GRAT 3 and 21,619,137 Class B in a family trust.

Why were 55,490 Lennar (LEN) shares forfeited by Stuart A. Miller?

The 55,490 forfeited Class A shares came from a February 28, 2023 grant subject to performance-based vesting. They were forfeited because certain financial performance goals were only partially satisfied, so not all granted shares vested.

What role did a Rule 10b5-1 plan play in Miller’s Lennar (LEN) tax transaction?

The filing states that, under a Rule 10b5-1 plan, Miller surrendered 59,958 Class A shares at $95.95 to pay tax liabilities on performance-based shares, indicating this tax-related disposition was pre-arranged under a trading plan.

How are Lennar (LEN) shares held indirectly for Stuart A. Miller?

Indirect holdings include Class A shares in Grantor Retained Annuity Trusts (GRAT 2 and GRAT 3), shares in a separate trust and an ESOP account, plus 21,619,137 Class B shares held in a family trust where he has voting and investment power but limited pecuniary interest.