secwatch.observer — SEC 8-K summary
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Issuer:     LENNAR CORP /NEW/ (LEN)
CIK:        0000920760
Form:       8-K
Filed at:   2022-04-06T23:59:59+00:00
Accession:  0001628280-22-008548
Event type: leadership
Sentiment:  neutral
Materiality: 0.40
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/920760/000162828022008548/0001628280-22-008548-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/920760/000162828022008548/len-20220406.htm
  HTML page:      https://secwatch.observer/filing/0001628280-22-008548

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