Lennar (LEN) director Amy Banse receives 133-share Class A stock award

Rhea-AI Filing Summary

Lennar Corporation director Amy Banse reported receiving a grant of 133 shares of Class A common stock on November 28, 2025 under the company’s outside directors’ compensation program. The grant was valued using a share price of $131.30, which was the last reported sale price of Lennar’s Class A stock on that date, and the shares were issued at $0.00 to the director. These shares are not transferable until November 30, 2028, except in specified situations. After this transaction, Banse beneficially owns 14,623 Class A shares directly and 165 shares indirectly through a trust for the benefit of her child.

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

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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^*

Banse Amy

(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	14,623	D
Class A Common Stock								165	I	By Trust(2)

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.

2. These shares are held in a trust, of which the reporting person is the trustee, for the benefit of the reporting person's child.

	/s/ Mark Liberman as attorney-in-fact for Amy Banse	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) disclose for director Amy Banse?

The company disclosed that director Amy Banse received 133 shares of Class A common stock on November 28, 2025 under Lennar’s outside directors’ compensation program.

At what price was the Lennar (LEN) director stock grant valued?

The 133-share grant to director Amy Banse was valued using $131.30 per share, the last reported sale price of Lennar’s Class A common stock on November 28, 2025.

When can the newly granted Lennar (LEN) shares be transferred by the director?

The granted shares are not transferable until November 30, 2028, subject to specified exceptions described in the company’s compensation program.

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

Following the grant, director Amy Banse beneficially owns 14,623 shares of Lennar Class A common stock directly and 165 shares indirectly through a trust.

What is the nature of the indirect ownership reported for Lennar (LEN)?

The 165 indirectly owned shares are held in a trust, for which Amy Banse is the trustee, for the benefit of her child.

Was cash paid by the Lennar (LEN) director for this stock grant?

No cash was paid by the director for this grant; the 133 shares were reported as acquired at a price of $0.00 per share as part of director compensation.