secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2022-11-21T23:59:59+00:00
Accession:  0001193125-22-290031
Event type: other_material
Sentiment:  neutral
Materiality: 0.55
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000119312522290031/0001193125-22-290031-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000119312522290031/d386121d8k.htm
  HTML page:      https://secwatch.observer/filing/0001193125-22-290031

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer