Company: LEN
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001193125-25-040938
Chunk: 36

Company: LENNAR CORP /NEW/
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 36
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feld, the amounts include dividend-equivalents payable on phantom shares held in the directors’ respective deferred compensation accounts. Deferred dividend equivalents are credited to the applicable director’s deferred compensation account in the form of additional phantom shares, calculated at the fair market value of a share of our Class A common stock on the dividend record dates. The table below sets forth the phantom shares credited to each participating director’s account from deferred dividend equivalents for fiscal 2024. |

| Name               |     | DividendsDeferred ($) |     | Phantom SharesCredited to Accountfor DeferredDividends |
| Tig Gilliam        |     |                76,073 |     |                                                    473 |
| Sherrill W. Hudson |     |               120,730 |     |                                                    751 |
| Sidney Lapidus     |     |               118,934 |     |                                                    740 |
| Teri McClure       |     |                40,688 |     |                                                    253 |
| Armando Olivera    |     |                46,185 |     |                                                    287 |
| Jeffrey Sonnenfeld |     |               104,011 |     |                                                    647 |

| (4) | As further described in “Corporate Governance—Leadership Structure—Board of Directors” in this proxy statement, effective as of the conclusion of the 2024 Annual Meeting on April 10, 2024, Sidney Lapidus no longer serves as the Lead Director. Accordingly, his fees earned with respect to fiscal 2024 have decreased relative to his fees earned with respect to fiscal 2023. |

| (5) | As further described in “Corporate Governance—Leadership Structure—Board of Directors” in this proxy statement, effective as of the conclusion of the 2024 Annual Meeting on April 10, 2024, Armando Olivera serves as the Lead Director. Accordingly, his fees earned with respect to fiscal 2024 have increased relative to his fees earned with respect to fiscal 2023. |

Stock Ownership Requirements Our Board has adopted stock ownership guidelines establishing minimum equity ownership requirements for members of our Board. The purpose of the guidelines is to align the interests of directors with the interests of stockholders and to further promote our commitment to sound corporate governance. Under our stock ownership guidelines, a director is expected to own, by a date not later than five years after being elected as a director, shares of our common stock with a value equal to five times the annual director retainer. All