Lennar executives reduce cash bonuses by at least 25% to fund associate pool, adopt 50/50 cash-stock split

LENNAR CORP /NEW/

Executive Chairman Stuart Miller and Co-CEOs Rick Beckwitt and Jonathan Jaffe each reduce 2022 pretax cash bonus by minimum 25% to create pool for lower-compensated Lennar associates.
All named executive officers and senior management contribute at varying percentages; Compensation Committee may increase contributions upward.
If remaining cash bonus exceeds equity grant value, the excess is paid in stock to achieve 50/50 cash-stock split (60% performance shares, 40% restricted shares).
Changes approved by Compensation Committee on April 6, 2022, under the 2016 Incentive Compensation Plan.

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