---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-061576"
form_type: "8-K"
ticker: "LEN"
cik: "0000920760"
company_name: "LENNAR CORP /NEW/"
filed_at: "2023-03-06T23:59:59+00:00"
generated_at: "2026-06-18T12:34:21.723392+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.5
calibrated_materiality_score: 0.5
confidence: "high"
source: SEC EDGAR
---

# Lennar adjusts FY2023 executive comp: caps bonuses, reduces PTI %, raises performance targets

## Summary
- Cash bonus caps: $7M for Executive Chairman, $6M each for Co-CEOs (same as FY2022).
- PTI payout % reduced: Executive Chairman to 0.20% (from 0.58%), Co-CEOs to 0.15% (from 0.51%).
- Performance-based equity increased to ~70% of long-term incentives; performance target raised to 65th percentile.
- Threshold payout lowered to 30% of target (from 50%) for all performance goals.
- Equity grants: Miller 191,755 performance shares + 82,180 restricted shares; similar for other NEOs.

## SEC filing metadata
- accession: 0001193125-23-061576
- form_type: 8-K
- ticker: LEN
- cik: 0000920760
- company_name: LENNAR CORP /NEW/
- filed_at: 2023-03-06T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.5
- calibrated_materiality_score: 0.5
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/920760/000119312523061576/0001193125-23-061576-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/920760/000119312523061576/d444988d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-061576
- JSON: https://secwatch.observer/filing/0001193125-23-061576.json
- Plain text: https://secwatch.observer/filing/0001193125-23-061576.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.