Company: LEN
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001193125-25-040938
Chunk: 81

Company: LENNAR CORP /NEW/
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 81
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 appropriate individual to lead the Board as Chairman regardless of what the Board believes to be in the best interests of Lennar and its stockholders. While our Board believes that there may be circumstances which warrant separation of our Chairman and Chief Executive Officer roles, our Board currently believes that it is in the best interests of our Company and its stockholders for the roles of our Executive Chairman and Co-ChiefExecutive Officer to be combined. Mr. Miller has invaluable experience and expertise in the real estate industry and has worked at Lennar for over four decades. His dedication to the Company and to the success of the business and its associates is clearly demonstrated in the many achievements he has earned throughout his various roles at the Company. Our Board believes that Mr. Miller’s extensive knowledge of our Company, its operations and its strategic plans allow him to provide effective leadership in his role as Executive Chairman and Co-ChiefExecutive Officer. The Board has a strong independent Lead Director to provide independent oversight and balance. Our By-Lawsprovide that the independent directors will elect one of their number to serve as the Lead Director. The Lead Director presides at all meetings of our independent directors. The Lead Director’s additional duties, which are listed in our By-Laws,include:

| • |     | at the request of the Board of Directors, presiding over meetings of stockholders; |

| • |     | conveying recommendations of the independent directors to the full Board; and |

| • |     | serving as a liaison between the independent directors of the Board and management. |

Our Lead Director can cause the independent directors to meet in executive sessions at any time. Therefore, the Lead Director can at any time bring to the attention of a majority of the directors any matters he thinks should be addressed by the Board. Additionally, as provided in our Corporate Governance Guidelines, if requested by major stockholders, the Lead Director will be available for consultation and direct communication with stockholders of the Company to discuss their concerns and expectations.

LENNAR CORPORATION2025 PROXY STATEMENT | 65

Proposal 4: Independent Board Chairman

Mr. Chevedden’s statements about the age and entrenchment of our Lead Director are incorrect. As part of its consideration of a refreshment of leadership positions on the Board and its committees from time to time, the Board appointed Armando Olivera to succeed Mr. Lapidus as our Lead Director, effective as of the conclusion of our 2024 Annual Meeting of Stockholders on April 10, 2024. Accordingly, Mr.