Lennar cuts 2022 exec comp 11-12%; increases performance share target to 60th percentile

LENNAR CORP /NEW/

Total compensation for Executive Chairman reduced ~11% and Co-CEOs ~12% from FY2021.
Short-term cash bonus capped at $6M for each Co-CEO and $7M for Executive Chairman.
Incentive pay mix shifted to ~20% cash / 80% equity; performance shares now 65% of equity.
Performance share target raised to 60th percentile on gross profit, ROIC, and TSR metrics.
Lower-level associates received immediate upward compensation adjustments; no bonus pool established.

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