OLIVERA ARMANDO J 4

What Happened Armando J. Olivera, a director of Lennar Corp (LEN), was granted 14 deferred stock units (DSUs) on April 22, 2026. The grant is reported at a per-share closing price of $94.45, giving the award a reported value of approximately $1,322. This was an award/acquisition (code A) — not an open-market purchase or sale.

Key Details

• Transaction date: 2026-04-22; filing date: 2026-04-24 (filed within the usual Form 4 window).
• Amount: 14 DSUs; price used for valuation: $94.45 per share; total reported value: $1,322.
• Shares/units owned after transaction: Not specified in the provided filing excerpt.
• Footnotes: The DSUs consist of (a) Director's Fee DSUs for deferred quarterly cash director fees (fully vested) and (b) Annual Grant DSUs tied to an unvested annual grant; these DSUs arose due to the issuer’s dividend with a record date of 4/22/2026. DSUs will not convert into Class A common stock until the director leaves the board. Fractional amounts were rounded down.
• Transaction type: Award of deferred compensation (derivative unit), not an immediate equity purchase or sale.

Context DSUs are a common form of director compensation and do not represent immediately tradeable shares. Because these units convert to actual shares only upon the director’s departure from the board, this transaction is generally administrative/compensation-related rather than a direct market signal of the director’s view of the stock. The dollar amount here is modest relative to typical insider trades.