OLIVERA ARMANDO J 4

What Happened

• Armando J. Olivera, a member of the Board of Directors of Lennar Corp (LEN), was granted 501 deferred stock units (DSUs) on May 29, 2026.
• The grant price was $89.78 per unit, giving a total grant value of $44,980. This was an award (compensation) rather than an open-market purchase or sale.

Key Details

• Transaction date and price: 2026-05-29 at $89.78 per unit for 501 units (total $44,980).
• Shares owned after transaction: Not specified in the Form 4 filing.
• Footnote: These are deferred stock units (DSUs) issued in lieu of a quarterly cash retainer; they are fully vested on grant but do not convert into Class A common shares until the director leaves the board. Fractional units were rounded down.
• Filing: Report filed with accession 0001193125-26-253935 on 2026-06-02 (the filing date is shown in the record).

Context

• DSUs are a form of deferred compensation: they reflect a future claim to shares but do not represent current voting stock. They are common for non-employee directors and do not by themselves indicate a buy or sell signal.
• Because these units vest immediately but convert to actual shares only upon departure from the board, they are primarily a compensation mechanism rather than an active investment decision.