Lennar CFO Diane J. Bessette Sells Shares (Tax Withholding)

What Happened

• Diane J. Bessette, Chief Financial Officer of Lennar Corp (LEN), reported share dispositions on Mar 16, 2026. She forfeited 4,862 Class A shares (disposition to the issuer) and surrendered 4,698 shares as payment for tax liability at $95.95 per share (total ~ $450,773). The forfeited shares relate to a Feb 28, 2023 performance-based grant that was only partially satisfied.

Key Details

• Transaction dates and prices: Mar 16, 2026 — 4,862 shares forfeited @ $0.00; 4,698 shares surrendered @ $95.95 (~$450,773).
• Footnotes: forfeiture stems from partial satisfaction of performance goals for a Feb 28, 2023 grant; the share surrender to cover taxes was made pursuant to a 10b5-1 plan.
• Ownership after transaction: the Form 4 does not disclose total shares beneficially owned after these transactions.
• Other disclosures: the filing includes custodial/record-holding disclaimers (some shares held by spouse or as custodian for a minor); no indication the filing was late (reported Mar 16, filed Mar 18).

Context

• This was not a market purchase but routine tax withholding/forfeiture tied to performance-based awards and a 10b5-1 plan. Such transactions are administrative (cover taxes or reflect unvested performance reductions) and do not necessarily signal a change in the insider’s sentiment about the company.