OLIVERA ARMANDO J 4

What Happened Armando J. Olivera, a member of the Board of Directors of Lennar Corp. (LEN), was granted 19 deferred stock units (DSUs) on July 10, 2026. The grant was recorded at $84.27 per share, for a total value of $1,601. The transaction is coded as an award/grant (A) rather than an open-market purchase or sale.

Key Details

• Transaction date: July 10, 2026; price used: $84.27 per share (closing price on the record date).
• Amount: 19 DSUs; total reported value: $1,601.
• Shares owned after transaction: not specified in the filing.
• Footnote highlights: these are Director's Fee DSUs (fully vested) and Annual Grant DSUs (vest with the related annual grant); dividend equivalents are included; fractional amounts rounded down. DSUs do not convert into Class A common stock until the director leaves the board. (See F1 and F2.)
• Filing: Form 4 filed July 14, 2026 — within the standard two-business-day reporting window for a July 10 transaction.

Context This was a compensation-related award (deferred stock units) issued under Lennar’s outside directors’ compensation program tied to the dividend record date. DSUs represent deferred compensation and will only convert into shares when the director ceases board service, so this award reflects routine director pay rather than an immediate market purchase or sale.