MILLER STUART A 4

What Happened
Stuart A. Miller, a reported 10% owner of Lennar Corporation (LEN), disposed of 2,000 shares of Lennar Class A common stock as a gift on May 11, 2026 (transaction code G). The filing reports $0 in proceeds for this disposition. The Form 4 was filed on May 13, 2026.

Key Details

• Transaction date: May 11, 2026; Form 4 filed: May 13, 2026 (timely filing).
• Transaction type & amount: Gift (G) of 2,000 shares; reported price $0; proceeds $0.
• Holdings notes: Footnote F1 states 318,104 shares previously held in GRAT 3 were distributed to Mr. Miller on May 13, 2026 and are now owned directly. Other footnotes (F2–F4) indicate shares held in GRAT 2 and GRAT 3, where Mr. Miller is annuitant/beneficiary/trustee and disclaims beneficial ownership except to the extent of pecuniary interest; he retains sole voting and investment power for certain shares. F5 references shares held indirectly in his ESOP account as of April 30, 2026.
• Filing timeliness: Reported within the Form 4 two‑business‑day window (transaction 5/11, filing 5/13).

Context
Gifts are transfers that do not generate cash proceeds for the insider and do not by themselves indicate market sentiment; they are often used for personal, estate- or tax-planning reasons. As a 10% owner, Mr. Miller is a significant holder of Lennar stock, and this filing documents a small non-sale disposition amid holdings that include shares held directly, in GRATs, and in an ESOP.