Lennar CEO gifts 2,000 Class A shares
Lennar Corp executive chairman, CEO and president Stuart A. Miller reported a charitable-style move in company stock.
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Form Type
4
Rhea-AI Filing Summary
Lennar Corp executive chairman, CEO and president Stuart A. Miller reported a charitable-style move in company stock. He made a bona fide gift of 2,000 shares of Class A common stock, with no sale proceeds, and still directly holds 1,465,966 Class A shares afterward.
He also directly holds 121,322 Class B shares and reports significant indirect holdings through various trusts, including 21,619,137 Class B shares held by a family trust and Class A shares held by ESOP and GRAT vehicles. A footnote notes that 318,104 Class A shares previously in GRAT 3 were distributed to him on May 13, 2026 and are now owned directly.
Insider Trade Summary
2,000 shares gifted
Gift
8 txns
Insider
MILLER STUART A
Role
Exec. Chairman, CEO, President
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Gift | Class A Common Stock | 2,000 | $0.00 | $0.00 |
| 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 B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,465,966 shares (Direct);
Class B Common Stock — 121,322 shares (Direct);
Class A Common Stock — 105,629 shares (Indirect, By GRAT 2);
Class A Common Stock — 181,896 shares (Indirect, By GRAT 3);
Class A Common Stock — 14,476 shares (Indirect, By Trust);
Class A Common Stock — 20,692 shares (Indirect, By ESOP Trust);
Class B Common Stock — 2,612 shares (Indirect, By ESOP Trust);
Class B Common Stock — 21,619,137 shares (Indirect, By Family Trust)
Footnotes (5)
- F1. Includes 318,104 shares previously held through GRAT 3, which were distributed to the reporting person on May 13, 2026 and are now owned directly.
- F2. 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.
- F3. 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.
- F4. 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.
- F5. 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 April 30, 2026.
Key Figures
Gifted Class A shares: 2,000 shares
Direct Class A holdings after gift: 1,465,966 shares
Direct Class B holdings: 121,322 shares
+5 more
8 metrics
Gifted Class A shares
2,000 shares
Bona fide gift, transaction code G
Direct Class A holdings after gift
1,465,966 shares
Class A common stock, direct ownership
Direct Class B holdings
121,322 shares
Class B common stock, direct ownership
Family Trust Class B holdings
21,619,137 shares
Class B common stock, by Family Trust
GRAT 3 Class A holdings
181,896 shares
Class A common stock, by GRAT 3
GRAT 2 Class A holdings
105,629 shares
Class A common stock, by GRAT 2
ESOP Class A holdings
20,692 shares
Class A common stock, by ESOP Trust
ESOP Class B holdings
2,612 shares
Class B common stock, by ESOP Trust
Key Terms
bona fide gift, Grantor Retained Annuity Trust, GRAT 3, Employee Stock Ownership Plan, +1 more
5 terms
bona fide gift financial
"transaction_code_description": "Bona fide gift""
A bona fide gift is a genuine, voluntary transfer of money, property, or benefits from one party to another made without expectation of repayment, services, or hidden conditions. Investors care because such gifts can affect company disclosures, related‑party transaction rules, tax treatment, and perceived conflicts of interest; think of it like someone giving you a present with no strings attached — but on a corporate scale, auditors and regulators need to verify it really is unconditional.
Grantor Retained Annuity Trust financial
"These shares are held by a Grantor Retained Annuity Trust ("GRAT 2")"
A grantor retained annuity trust (GRAT) is an estate-planning tool where the person who creates the trust transfers assets into it but receives fixed cash payments (an annuity) from the trust for a set number of years; whatever remains after that term passes to designated beneficiaries. It matters to investors because it can shift future appreciation of assets out of the creator’s taxable estate—like putting an asset into a timed vending machine that pays you fixed amounts while any extra value that grows inside the machine goes to heirs with reduced gift or estate tax consequences.
GRAT 3 financial
"These shares are held by a Grantor Retained Annuity Trust ("GRAT 3")"
Employee Stock Ownership Plan financial
"Employee Stock Ownership Plan ("ESOP") account on April 30, 2026."
An employee stock ownership plan (ESOP) is a company-run program that gives workers ownership stakes by allocating or letting them buy company shares, often through a retirement-style account. For investors, ESOPs matter because they align employees’ incentives with company performance—like turning staff into shareholders—which can boost productivity and long-term value but may also concentrate employee retirement savings in company stock, affecting financial risk and share demand.
pecuniary interest financial
"disclaims beneficial ownership except to the extent of his pecuniary interest"
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Lennar (LEN) report for Stuart A. Miller?
Lennar reported that Stuart A. Miller made a bona fide gift of 2,000 shares of Class A common stock. This is a non-market transfer with no sale proceeds, classified as a gift disposition on the Form 4.
What are Stuart A. Miller’s direct Class B holdings in Lennar (LEN) after the filing?
The Form 4 shows Stuart A. Miller directly holds 121,322 shares of Lennar Class B common stock. These Class B shares are separate from his Class A holdings and are listed as direct ownership in the report.
What significant indirect Lennar holdings are reported for Stuart A. Miller?
The filing lists large indirect holdings, including 21,619,137 Class B shares held by a family trust and additional Class A shares held via ESOP and Grantor Retained Annuity Trusts (GRAT 2 and GRAT 3), where Miller reports beneficial ownership subject to pecuniary interest.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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