Lee Martin Katherine 4

What Happened

• Katherine Lee Martin, Chief Legal Officer and Secretary of Lennar Corp (LEN), was granted two awards on January 20, 2026: 8,683 shares and 8,683 shares of Class A common stock (total 17,366 shares). Both entries are coded as "A" (award/grant) and show an acquisition price of $0.00 on the Form 4 (typical for equity awards). The filing reports the awards but does not state a cash value; market value would depend on LEN’s share price.

Key Details

• Transaction dates and prices: 2026-01-20 — 8,683 shares @ $0.00 (two grants, total 17,366 shares).
• Vesting/conditions: One grant is subject to performance-based vesting over a three-year performance period (Footnote F1). The other vests in three equal installments on Feb 14, 2027, Feb 14, 2028 and Feb 14, 2029 (Footnote F2). Both are subject to forfeiture per their terms.
• Shares owned after transaction: Not specified in the provided filing excerpt.
• Filing timeliness: Form filed 2026-01-22 for transactions dated 2026-01-20 (filed within the standard two-business-day window).
• No 10b5-1 plan, tax-withholding sale, or option exercise is indicated in the reported items.

Context

• These grants are compensation awards, not open-market purchases or sales. Because the shares are subject to time- and/or performance-based vesting (and potential forfeiture), they are not immediately tradable and do not by themselves indicate a near-term buying or selling decision by the officer.
• For retail investors, equity awards are common executive compensation. They can align management incentives with shareholder value over the vesting period but should be interpreted separately from outright purchases or sales when assessing insider sentiment.