Dacona Smith, a director of Lennar Corporation (LEN), received 131 shares of Class A common stock as outside director compensation. The shares were issued based on the issuer's last reported sale price of $133.14 per share on the transaction date. The grant increased the reporting person's beneficial ownership to 3,805 shares and was issued at no cash cost to the reporting person.
The issued shares are subject to transfer restrictions until August 31, 2028, except for specified exceptions, and were reported on a Form 4 indicating a routine director compensation award rather than an open-market trade.
Serena Wolfe, a director of Lennar Corporation (LEN), acquired 131 shares of Class A common stock on 08/29/2025 as part of the company outside directors' compensation program. The shares were issued based on a reference price of $133.14 per share and are subject to transfer restrictions until 08/31/2028 except for specified exceptions. After the grant, Ms. Wolfe directly beneficially owns 3,875 Class A shares.
This filing reports a routine non-cash equity award to a director under the issuer compensation program; the grant was recorded with a transaction code indicating acquisition with a reported price of $0.00 and explanatory disclosure of the reference price used for grant valuation.
Amy Banse, a director of Lennar Corporation (LEN), was issued 131 Class A common shares as outside director compensation on 08/29/2025 based on a $133.14 per-share valuation. The shares were issued at no cash price to the reporting person and are subject to transfer restrictions until 08/31/2028 except for specified exceptions. After the issuance, Ms. Banse beneficially owned 14,710 Class A shares directly and 165 Class A shares indirectly through a trust for her child, of which she is trustee. The Form 4 was signed by Diane Bessette as attorney-in-fact on 09/02/2025.
Lennar Corp. (LEN) filed an 8-K announcing senior leadership changes. COO Fred Rothman, a 19-year veteran and COO since 2019, will retire effective 2 Sep 2025. Vice President, General Counsel & Secretary Mark Sustana will also retire on that date.
Sustana signed a two-year consulting agreement starting 3 Sep 2025 at $110,000 per month, dropping to $50,000 per month if the term is extended. The agreement includes standard non-compete, confidentiality and indemnification clauses and is provided as Exhibit 10.1.
Katherine Lee Martin, formerly EVP & General Counsel of Hertz Global Holdings and previously a senior litigator at X Corp./Twitter and the U.S. DOJ, will become Chief Legal Officer & Corporate Secretary on 2 Sep 2025. No successor for the COO role, financial metrics or strategic guidance were disclosed. A related press release is furnished as Exhibit 99.1.