Lennar director granted dividend-equivalent RSUs
Smith Dacona reported acquisition or exercise transactions in this Form 4 filing.
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Form Type
4
Rhea-AI Filing Summary
Smith Dacona reported acquisition or exercise transactions in this Form 4 filing.
Lennar Corporation director Dacona Smith received an automatic grant of 14 restricted stock units tied to dividend equivalents on the company’s common stock with a record date of July 10, 2026, under the outside directors’ compensation program. The RSUs are valued using a $84.27 closing share price and will vest at the same time as the related annual RSU grant, bringing Smith’s direct holdings to 6,277 shares/RSUs.
Insider Trade Summary
Grant/Award: 14 shares
Grant/Award
1 txn
Insider
Smith Dacona
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Class A Common Stock F1, F2 | 14 | $84.27 | $1K |
Holdings After Transaction:
Class A Common Stock — 6,277 shares (Direct)
Footnotes (2)
- F1. Represents restricted stock units ("RSUs") issued in respect of the Reporting Person's unvested annual RSU grant (including dividend equivalents in respect thereof) as a result of the dividend on the Issuer's common stock with a record date of July 10, 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.
- F2. Represents the closing price per share of Issuer's common stock as of the record date.
Key Figures
RSUs granted: 14 shares
Reference share price: $84.27 per share
Holdings after transaction: 6,277 shares
3 metrics
RSUs granted
14 shares
Restricted stock units issued as dividend equivalents on unvested annual RSU grant
Reference share price
$84.27 per share
Closing price of Lennar common stock on July 10, 2026 dividend record date
Holdings after transaction
6,277 shares
Total Class A common stock/RSUs directly held by Dacona Smith after the grant
Key Terms
restricted stock units ("RSUs"), dividend equivalents, outside directors' compensation program, record date
4 terms
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.
dividend equivalents financial
"including dividend equivalents in respect thereof as a result of the dividend on the Issuer's common stock"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
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 July 10, 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.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did Lennar (LEN) disclose for director Dacona Smith?
Lennar disclosed that director Dacona Smith received an automatic grant of 14 restricted stock units (RSUs). The RSUs were issued as dividend equivalents on unvested annual RSUs under Lennar’s outside directors’ compensation program, rather than through an open-market stock purchase.
What was the reference price used for Dacona Smith’s RSU grant at Lennar (LEN)?
The RSU grant was referenced to a closing price of $84.27 per share for Lennar’s common stock. This price represents the closing market price as of the July 10, 2026 dividend record date, as noted in the Form 4 footnotes for the transaction.
Why did Lennar (LEN) issue 14 new RSUs to director Dacona Smith?
Lennar issued 14 RSUs to Dacona Smith as dividend equivalents on her unvested annual RSU grant. Under Lennar’s outside directors’ compensation program, dividends on common stock generate additional RSUs that vest on the same schedule as the underlying annual award.
When will the new RSUs granted to Lennar (LEN) director Dacona Smith vest?
The 14 new RSUs granted to Dacona Smith will vest at the same time as her related annual RSU grant. The filing specifies that these dividend-equivalent RSUs follow the identical vesting schedule as the original unvested director compensation award.
AI-generated analysis. How Rhea-AI works. Not financial advice.
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