[Form 4] LENNAR CORP /NEW/ Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lennar Executive Chairman and CEO Stuart A. Miller reported two non-market dispositions of Lennar stock. On March 16, 2026, he forfeited 55,490 shares of Class A common stock back to the company from a February 28, 2023 performance-based grant after only partial achievement of financial goals.
On the same date, he also surrendered 59,958 Class A shares at $95.95 per share to cover tax liabilities on performance-based shares, under a pre-arranged Rule 10b5-1 trading plan. After these transactions, he directly held 1,149,862 Class A shares and 121,322 Class B shares, plus additional indirect holdings through GRATs, trusts and an ESOP, including 500,000 Class A shares in GRAT 3 and 21,619,137 Class B shares in a family trust.
Positive
- None.
Negative
- None.
Insider Trade Summary 10b5-1
10 transactions reported
Mixed
10 txns
Insider
MILLER STUART A
Role
Executive Chairman & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Disposition | Class A Common Stock | 55,490 | $0.00 | -- |
| Tax Withholding | Class A Common Stock | 59,958 | $95.95 | $5.75M |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class A Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
| holding | Class B Common Stock | -- | -- | -- |
Holdings After Transaction:
Class A Common Stock — 1,209,820 shares (Direct);
Class B Common Stock — 121,322 shares (Direct);
Class A Common Stock — 0 shares (Indirect, By GRAT 1);
Class B Common Stock — 2,612 shares (Indirect, By ESOP Trust)
Footnotes (1)
- Represents shares forfeited from a February 28, 2023 grant of Class A common stock subject to performance-based vesting conditions due to partial satisfaction of certain financial performance goals. Includes 2,695 shares previously held through GRAT 1 and 94,371 shares previously held through GRAT 2, both of which were distributed to the reporting person on March 6, 2026 and are now owned directly. Pursuant to a 10b5-1 plan, the reporting person surrendered shares to pay tax liability on the shares of Class A common stock that were subject to performance criteria. The grant of shares subject to performance-based vesting conditions was originally made on February 28, 2023. These shares were held by a Grantor Retained Annuity Trust ("GRAT 1") of which Mr. Miller was the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continued to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 1 but disclaimed beneficial ownership except to the extent of his pecuniary interest therein. These shares are held by a Grantor Retained Annuity Trust ("GRAT 2") of which Mr. Miller is the sole beneficiary and sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 2 but disclaims beneficial ownership except to the extent of his pecuniary interest therein. These shares are held by a Grantor Retained Annuity Trust ("GRAT 3") of which Mr. Miller is the sole annuitant, as well as the trustee. Mr. Miller continues to report beneficial ownership of all of the Lennar Class A common stock held by GRAT 3 but disclaims beneficial ownership except to the extent of his pecuniary interest therein. Mr. Miller has sole voting and investment power with respect to these shares, even though he has only limited pecuniary interest in these shares. Mr. Miller disclaims beneficial ownership of these shares except to the extent of such pecuniary interest. Represents the number of shares indirectly held by the Reporting Person, as reflected in the Reporting Person's Employee Stock Ownership Plan ("ESOP") account on February 28, 2026.
FAQ
What insider transactions did Lennar (LEN) CEO Stuart A. Miller report?
Stuart A. Miller reported forfeiting 55,490 Lennar Class A shares to the issuer and surrendering 59,958 Class A shares at $95.95 to cover tax liabilities on performance-based shares, both recorded on March 16, 2026.
Were Stuart A. Miller’s Lennar (LEN) stock transactions open-market sales?
No. The filing describes a disposition to the issuer of 55,490 shares and a tax-withholding surrender of 59,958 shares. Both are non-market transactions, not open-market sales to third-party buyers on an exchange.
What role did a Rule 10b5-1 plan play in Miller’s Lennar (LEN) tax transaction?
The filing states that, under a Rule 10b5-1 plan, Miller surrendered 59,958 Class A shares at $95.95 to pay tax liabilities on performance-based shares, indicating this tax-related disposition was pre-arranged under a trading plan.