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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
MILLER STUART A 700 NW 107TH AVENUE SUITE 400 MIAMI, FL 33172 |
X | X | Chief Executive Officer |
/s/ Mark Sustana as attorney-in-fact for Stuart Miller | 01/16/2018 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The reporting person surrendered shares to pay a tax liability on restricted stock pursuant to a 10b5-1 plan. The restricted stock, which was subject to performance-based vesting conditions, was originally granted on June 27, 2017. On January 11, 2018, the Compensation Committee determined that the performance-based vesting conditions were met, and, because the reporting person is eligible for "retirement", as defined in the Lennar Corporation 2016 Equity Incentive Plan, the restricted stock was deemed taxable under applicable tax rules. The reporting person has no intention to retire. |
(2) | The reporting person surrendered shares to pay a tax liability on restricted stock pursuant to a 10b5-1 plan. On November 27, 2017, shares of Class B common stock were issued as a dividend to holders of the Company's common stock. The shares of Class B common stock were subject to the same performance-based vesting conditions as the Class A common stock with regard to which they were issued. On January 11, 2018, the Compensation Committee determined that the performance-based vesting conditions were met, and, because the reporting person is eligible for "retirement", as defined in the Lennar Corporation 2016 Equity Incentive Plan, the restricted stock was deemed taxable under applicable tax rules. The reporting person has no intention to retire. |
(3) | Mr. Miller has sole voting and investment power with respect to these shares, even though he has only limited pecuniary interest in these shares. Mr. Miller disclaims beneficial ownership of these shares except to the extent of such pecuniary interest. |