Lennar sets record date and election period for Millrose spin-off; distribution ratio 1:2

LENNAR CORP /NEW/

Record date set for January 21, 2025; holders get one Millrose Class A share per two Lennar shares held.
Election period runs from Jan 21 to Feb 3, 2025 to receive Millrose Class B instead of Class A.
Approximately 80% of Millrose stock will be distributed; Lennar retains the remaining ~20%.
Holders who do not submit an election by 5:00 p.m. ET on Feb 3 will automatically receive Millrose Class A.
Elections must be made electronically via a dedicated portal; no mail-in option is available.

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