Company: LEN
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001193125-25-040938
Chunk: 83

Company: LENNAR CORP /NEW/
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 83
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 Board regularly evaluates and reviews the Board’s leadership structure and composition, a process which incorporates feedback from our stockholders.

Our Board regularly evaluates the best leadership structure of Lennar based on all then-relevant facts and circumstances, including feedback from our stockholders. The Board and the Nominating and Corporate Governance Committee evaluate the Board’s leadership structure at least annually, and more frequently as appropriate. This process includes evaluating the performance of the Executive Chairman and the Board leadership structure generally to ensure strong independent governance and effective oversight of management. In addition, we regularly discuss our Board leadership structure with our stockholders as part of our stockholder engagement program.

We complete annual Board and committee evaluations, and the Nominating and Corporate Governance Committee and Board regularly evaluate the composition and effectiveness of the Board and its committees, including to identify opportunities for further refreshment and enhancement. Three of our nine independent directors have been added in the last four years.

We also note for the record that Mr. Chevedden’s statement about Mr. Hudson, our Audit Committee Chair, sitting on two outside boards is incorrect, as he only sits on one. Mr. Hudson is well qualified to serve as the Chair of our Audit Committee, having worked at Deloitte & Touche LLP for 37 years.

66 | LENNAR CORPORATION2025 PROXY STATEMENT

Proposal 4: Independent Board Chairman

Summary

Our Board believes that having an Executive Chairman and an independent Lead Director, each with distinct responsibilities, works well for our Company because all but two of our directors (our Executive Chairman and Co-Chief Executive Officer and our Co-Chief Executive Officer and President) are independent, and our Lead Director can cause the independent directors to meet in executive sessions at any time. The Board believes it is in the best long-term interests of the Company and its stockholders to maintain the flexibility to have the combined role of Chairman and Co-Chief Executive Officer.

LENNAR CORPORATION2025 PROXY STATEMENT | 67

We received the following stockholder proposal from As You Sow, 2020 Milvia Street, Suite 500, Berkeley, CA 94704, on behalf of Longview Broad Market 3000 Index Fund (the “Fund”), a stockholder of the Company. The Fund has represented that it will meet SEC Rule 14a-8requirements, including the requirement that it will continually own the required market value of our stock until after the date of the Annual Meeting. We have copied the text of the proposal (including title and stockholder