HUDSON SHERRILL W 4

What Happened
Hudson Sherrill, a director of Lennar Corporation (LEN), was credited with 14 restricted stock units (RSUs) on July 10, 2026 as an award/ acquisition (Form 4 code A). The filing shows a per-share value of $84.27, for a total of $1,180. These RSUs were issued as dividend equivalents under the company’s outside directors’ compensation program and will vest at the same time as the related annual RSU grant. This is a compensation award rather than an open-market purchase or sale.

Key Details

• Transaction date and price: July 10, 2026 — 14 RSUs @ $84.27 per share (closing price on record date).
• Total value: $1,180 (approx.).
• Transaction code: A (Award/Grant).
• Shares owned after transaction: Not disclosed in the Form 4 filing.
• Footnotes: F1 — RSUs represent dividend equivalents tied to the director’s unvested annual RSU grant and will vest with that grant; fractional amounts rounded. F2 — $84.27 is the closing price used.
• Filing timeliness: Report filed July 14, 2026 (within two business days of the July 10 record date) — timely.

Context
Dividend-equivalent RSUs are routine compensation for directors and simply reflect credited units rather than a market-directional trade. Such awards don’t indicate a purchase conviction and will only convert to transferable shares if and when they vest per the underlying RSU schedule.