FORM 4 |
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940 |
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b). |
1. Name and Address of Reporting Person*
(Street)
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2. Issuer Name and Ticker or Trading Symbol
LENNAR CORP /NEW/ [ LEN,LEN.B ] |
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
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3. Date of Earliest Transaction
(Month/Day/Year) 02/27/2007 | ||||||||||||||||||||||||||
4. If Amendment, Date of Original Filed
(Month/Day/Year) |
6. Individual or Joint/Group Filing (Check Applicable Line)
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Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned | ||||||||||
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1. Title of Security (Instr. 3) | 2. Transaction Date (Month/Day/Year) | 2A. Deemed Execution Date, if any (Month/Day/Year) | 3. Transaction Code (Instr. 8) | 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) | 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) | 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 7. Nature of Indirect Beneficial Ownership (Instr. 4) | |||
Code | V | Amount | (A) or (D) | Price | ||||||
Class A Common Stock | 02/27/2007 | A | 50,000(1) | A | $0 | 99,913 | D | |||
Class B Common Stock | 5,999 | D |
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities) | |||||||||||||||
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1. Title of Derivative Security (Instr. 3) | 2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) | 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) | 6. Date Exercisable and Expiration Date (Month/Day/Year) | 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) | 8. Price of Derivative Security (Instr. 5) | 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) | 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) | 11. Nature of Indirect Beneficial Ownership (Instr. 4) | ||||
Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Stock Option (Right to Buy) | $8.25 | 02/07/2004 | 02/07/2010 | Class A Common Stock | 7,602 | 7,602 | D | ||||||||
Stock Option (Right to Buy) | $18.32 | 03/06/2005 | 03/06/2011 | Class A Common Stock | 14,000 | 14,000 | D | ||||||||
Stock Option (Right to Buy) | $26.32 | 01/25/2006 | 01/25/2012 | Class A Common Stock | 14,000 | 14,000 | D | ||||||||
Stock Option (Right to Buy) | $27.845 | 01/23/2007 | 01/23/2008 | Class A Common Stock | 60,000 | 60,000 | D | ||||||||
Stock Option (Right to Buy) | $46.42 | 12/17/2004(2) | 12/17/2008 | Class A Common Stock | 60,000 | 60,000 | D | ||||||||
Stock Option (Right to Buy) | $55 | 12/16/2005(2) | 12/16/2009 | Class A Common Stock | 30,000 | 30,000 | D | ||||||||
Stock Option (Right to Buy) | $62.675 | 01/05/2007(2) | 01/05/2011 | Class A Common Stock | 30,000 | 30,000 | D | ||||||||
Stock Option (Right to Acquire) | $0 | 02/07/2004 | 02/07/2010 | Class B Common Stock | 760(3) | 760 | D | ||||||||
Stock Option (Right to Acquire) | $0 | 01/25/2006 | 01/25/2012 | Class B Common Stock | 1,400(3) | 1,400 | D | ||||||||
Stock Option (Right to Acquire) | $0 | 01/23/2007 | 01/23/2008 | Class B Common Stock | 6,000(3) | 6,000 | D | ||||||||
Stock Option (Right to Acquire) | $0 | 03/06/2005 | 03/06/2011 | Class B Common Stock | 1,400(3) | 1,400 | D |
Explanation of Responses: |
1. Restricted shares were granted on 2/27/07 and are subject to forfeiture and restrictions on sale. 10% of the shares vest on the first anniversary of the grant, and 30% of the remaining shares vest on each of the next three anniversaries of the grant date. Upon each anniversary, the grantee may sell up to 50% of the shares then vested; however, the remaining shares then vested may not be sold until after the second anniversary of vesting. |
2. Stock options granted become exercisable in four annual installments. 10% of the stock options become exercisable on the first anniversary of the grant date and 30% of the stock options become exercisable on each of the next three anniversaries of the grant date. |
3. Represents shares of Class B Common Stock to be issued upon the exercise of certain options to purchase Class A Common Stock. |
Diane J. Bessette | 03/01/2007 | |
** Signature of Reporting Person | Date | |
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | ||
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v). | ||
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). | ||
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure. | ||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number. |