JONATHAN M. JAFFE - 28 Feb 2023 Form 4 Insider Report for LENNAR CORP /NEW/ (LENB)

Role
Co-CEO & Co-President, Director
Signature
/s/ Mark Sustana as Attorney-in-Fact for Jonathan M. Jaffe
Issuer symbol
LENB
Transactions as of
28 Feb 2023
Transactions value $
-$8,865,350
Form type
4
Filing time
02 Mar 2023, 15:43:35 UTC
Previous filing
21 Nov 2022
Next filing
16 Jun 2023
SEC
View on sec.gov

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LENB Class A Common Stock Award $0 +240K +34.87% $0.00 928K 28 Feb 2023 Direct F1
transaction LENB Class A Common Stock Tax liability -$2.74M -28.3K -3.05% $96.74 899K 28 Feb 2023 Direct F2
transaction LENB Class A Common Stock Award $0 +77.7K +8.64% $0.00 977K 28 Feb 2023 Direct F3
transaction LENB Class A Common Stock Tax liability -$6.13M -63.3K -6.48% $96.74 914K 28 Feb 2023 Direct F4
holding LENB Class A Common Stock 1.58K 28 Feb 2023 By ESOP Trust
holding LENB Class B Common Stock 23.2K 28 Feb 2023 Direct
holding LENB Class B Common Stock 198 28 Feb 2023 By ESOP Trust
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 167,875 of the shares of Class A common stock granted are subject to performance-based vesting conditions over a three-year performance period, and the other 71,950 of the shares of Class A common stock granted vest in three equal amounts on each of February 14, 2024, February 14, 2025 and February 14, 2026. The grants are subject to forfeiture in accordance with their terms.
F2 Surrendered shares to the Company pursuant to a 10b5-1 plan to satisfy a withholding obligation due to a grant of stock on February 28, 2023.
F3 On February 28, 2020, the reporting person was granted a target award of 83,214 shares of Class A common stock subject to performance-based vesting conditions over a three-year performance period ended November 30, 2022. This grant was reported when it occurred. As a result of meeting specified performance criteria, on February 28, 2023, the 83,214 shares of Class A common stock vested and the reporting person was granted an additional 77,721 shares of Class A common stock.
F4 Pursuant to a 10b5-1 plan, the reporting person surrendered shares to pay tax liability on the shares of Class A common stock that were subject to performance criteria. The grant of shares subject to performance-based vesting conditions was originally made on February 28, 2020.