Company: LEN
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001193125-25-040938
Chunk: 18

Company: LENNAR CORP /NEW/
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 18
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                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                       | Nominating and Corporate Governance Committee |
|                                                                                | THE NCG COMMITTEE IS RESPONSIBLE FOR:   •  soliciting, considering, recommending, and nominating candidates to serve on the Board under criteria adopted by it from time to time; •  advising the Board with respect to Board and Committee composition; •  reviewing and recommending changes to our Corporate Governance Guidelines; •  overseeing orientation for new directors and periodic evaluations of the Board and the committees; •  overseeing the Company’s ESG efforts and progress; and •  reviewing and reporting to the Board on a periodic basis with regard to matters of corporate governance.   The Board of Directors has determined that each member of the NCG Committee meets the independence requirements under the NYSE’s corporate governance standards. |                                               |

| Chair: Sidney Lapidus   Member: Tig Gilliam |                                                                                                                                                                                                                                                                                                                                                     | Independent Directors Transactions Committee |
|                                             | As permitted by our By-Laws, our Board of Directors has established this committee with the authority to approve certain transactions between Lennar and Five Point Holdings, LLC (in which we own a substantial minority interest), and to review and make recommendations to the Board with respect to other matters referred to it by the Board. |                                              |

| Members: Armando Olivera 
 Stuart Miller            |                                                                                                                                                                                                                         | Executive Committee |
|                          | As permitted by our By-Laws, our Board has established this committee with the authority to act on behalf of the Board, except as that power is limited by the corporate laws of the State of Delaware or by our Board. |                     |

18 | LENNAR CORPORATION2025 PROXY STATEMENT

Corporate Governance Risk Management

Risk Management Board Role in Management of Risk Our Board is actively involved in the oversight and management of risks that could affect Lennar. Management, in consultation with the Board, identifies areas of risk that particularly affect us. Senior members of our management team report to the Board on each of those areas of risk on a rotating basis at the regularly scheduled quarterly Board meetings. The areas of risk reported to the Board change from time to time based on business conditions, the advice of outside advisors, and a review of risks identified by our competitors in their public filings. Currently, the risk areas reported on to our Board on a regular basis relate to housing inventory and land supply, construction costs and homebuilding overhead, construction quality and