Company: LEN
Filing Date: 2025-08-04
Form Type: 8-K
Source: 0001628280-25-037455
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Company: LENNAR CORP /NEW/
Filing Date: 2025-08-04
Form: 8-K
Item: Item 5.02
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Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 30, 2025, Fred Rothman, the Chief Operating Officer of Lennar Corporation (the “ Company”), notified the Company of his decision to retire effective September 2, 2025. Mr. Rothman joined the Company in 2006 and has served as the Company’s Chief Operating Officer since January 2019.

Additionally, on August 1, 2025, Mark Sustana, the Vice President, General Counsel and Secretary of the Company, notified the Company of his decision to retire effective September 2, 2025. Mr. Sustana has served as Vice President since April 2018 and as the Company’s Secretary and General Counsel since March 2005.

In connection with Mr. Sustana’s retirement, on August 1, 2025, the Company and Mr. Sustana entered into a Consulting Agreement (the “ Consulting Agreement”). The Consulting Agreement shall be for an initial two year term beginning on September 3, 2025 (the “ Term”). The Term may be extended by mutual agreement of the parties (the “ Additional Term”). Pursuant to the Consulting Agreement, Mr. Sustana will provide advice and counsel from time to time as an independent contractor with respect to the business and legal affairs of the Company for which he was responsible during his tenure with the Company. In exchange for these services, the Company will pay Mr. Sustana a consulting fee at the rate of $110,000 per month during the Term and $50,000 per month during any Additional Term. The Consulting Agreement contains customary provisions relating to non-competition, treatment of confidential information and indemnification.

The foregoing summary of the Consulting Agreement does not purport to be complete and is qualified in its entirety by reference to the full text of the Consulting Agreement, a copy of which is filed as Exhibit 10.1 hereto and is incorporated by reference in its entirety into this Item 5.02.