SONNENFELD JEFFREY 4

What Happened

• Jeffrey Sonnenfeld, a member of Lennar's Board of Directors, was granted 251 deferred stock units (DSUs) on 2026-02-27.
• The filing reports an acquisition value of $114.36 per unit, totaling $28,704. This was an award granted in lieu of a quarterly cash retainer (transaction code A).

Key Details

• Transaction date: 2026-02-27; Form 4 filed: 2026-03-03 (filed within the standard reporting window).
• Grant size and value: 251 DSUs at $114.36 each; total reported value $28,704.
• Shares owned after transaction: not reported in this Form 4 (the DSUs do not immediately convert to Class A shares).
• Footnote: DSUs are fully vested upon grant but do not convert into Class A common stock until the director leaves the Board; fractional amounts were rounded to the nearest whole unit.

Context

• These DSUs are a form of director compensation (awarded instead of a cash retainer) and are recorded as an acquisition for reporting purposes, but they do not represent an open-market buy or sale of shares today.
• Because the units convert to stock only upon cessation of board service, this award is generally considered routine compensation rather than a direct signal of the director’s near-term trading intent.