Company: LEN
Filing Date: 2025-02-28
Form Type: DEF 14A
Source: 0001193125-25-040938
Chunk: 52

Company: LENNAR CORP /NEW/
Filing Date: 2025-02-28
Form: DEF 14A
Chunk 52
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                        124,240 |
| Jonathan M. Jaffe |     |                     6,960,222 |     |                  46,615 |     |                                 16,414,753 |     |                        108,770 |
| Diane Bessette    |     |                     1,625,374 |     |                  10,884 |     |                                  1,642,532 |     |                         10,884 |
| Jeff McCall       |     |                       875,589 |     |                   5,863 |     |                                    884,800 |     |                          5,863 |

| (1) | Value is based on $149.31 per share, which was the closing price of Lennar’s Class A common stock on the grant date of January 8, 2024. |

| (2) | The shares of service-based restricted stock will vest in equal installments on each of February 14, 2025, February 14, 2026, and February 14, 2027. |

| (3) | If the threshold number of shares of performance-based restricted stock that potentially could be earned were used rather than the target number, the total grant date fair value of the performance-based awards would be $5,264,811 for Mr. Miller, $4,924,426 for Mr. Jaffe, $492,759 for Ms. Bessette and $265,440 for Mr. McCall. If the maximum number of Class A common stock that potentially could be earned were used rather than the target number, the total grant date fair value of the awards would be $37,498,738 for Mr. Miller, $32,829,505 for Mr. Jaffe, $3,285,063 for Ms. Bessette and $1,769,600 for Mr. McCall. |

Grants of performance-based share awards The performance-based restricted stock awards awarded in January 2024 were granted at target and will vest, if at all, only to the extent that specific performance goals are met with respect to the four equally weighted metrics over the three-year performance period, which commenced on December 1, 2023 and ends on November 30, 2026. Consistent with historical practice, the number of performance-based restricted shares issued at grant is equal to the target number of shares subject to the performance share award. The portion of the performance share award that may be issuable upon achievement of