Lennar (LEN) director Serena Wolfe granted 133 Class A shares as compensation

Rhea-AI Filing Summary

Lennar Corporation director equity grant reported

A Lennar Corporation director, Serena Wolfe, reported receiving 133 shares of the company’s Class A common stock on November 28, 2025. The shares were issued under Lennar’s outside directors’ compensation program, using a reference price of $131.30 per share, which was the last reported sale price of the Class A stock on that date, the final trading day of Lennar’s fiscal quarter. The filing shows these shares were acquired at a price of $0.00 as a stock-based compensation award.

After this grant, Wolfe beneficially owns 4,008 shares of Lennar Class A common stock in direct ownership. The granted shares are subject to transfer restrictions and are not transferable until November 30, 2028, except under specified limited circumstances.

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
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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^*

Wolfe Serena

(Last) (First) (Middle)

5505 WATERFORD DISTRICT DRIVE

(Street)

MIAMI FL 33126

(City) (State) (Zip)

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)

3. Date of Earliest Transaction (Month/Day/Year)
11/28/2025

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

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

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

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	11/28/2025		A		133(1)	A	$0.00	4,008	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. These shares were issued in accordance with the Issuer's outside directors' compensation program based on $131.30 per share which was the last reported sale price of the Issuer's Class A common stock on November 28, 2025, the last trading day of the Issuer's fiscal quarter. The shares are not transferable until November 30, 2028, subject to specified exceptions.

	/s/ Mark Liberman as attorney-in-fact for Serena Wolfe	12/02/2025
	** 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.

FAQ

What insider transaction did Lennar (LEN) report in this Form 4?

The Form 4 reports that director Serena Wolfe acquired 133 shares of Lennar Class A common stock on November 28, 2025 as part of the outside directors’ compensation program.

What price was used to determine the value of the Lennar (LEN) director share grant?

The 133 shares were issued based on a price of $131.30 per share, which was the last reported sale price of Lennar’s Class A common stock on November 28, 2025.

Did the Lennar (LEN) director pay cash for the 133 shares reported?

No. The filing shows the 133 Class A shares were acquired at $0.00 per share as an equity compensation award under Lennar’s outside directors’ compensation program.

How many Lennar (LEN) shares does the reporting director own after this transaction?

Following the reported transaction, Serena Wolfe beneficially owns 4,008 shares of Lennar Class A common stock in direct ownership.

Are the newly granted Lennar (LEN) shares immediately transferable?

No. The filing states that the shares are not transferable until November 30, 2028, except for specified exceptions described in the compensation terms.

What is the relationship of the reporting person to Lennar (LEN)?

The reporting person, Serena Wolfe, is identified in the filing as a Director of Lennar Corporation.