Lennar 8-K Report, Executive Changes (Jan 15, 2025)

Lennar Corporation (LEN) filed this Form 8-K to report a board change under Item 5.02.

Sidney Lapidus, a member of the Board of Directors, notified the Board on January 13, 2025, that he will not stand for re-election at the Company's 2025 Annual Meeting of Stockholders. He will continue to serve as a director and as Chair of the Independent Directors Transactions Committee until his term expires at that meeting. The filing states his decision is not the result of any disagreement with the Company relating to its operations, policies or practices.

In connection with his departure, the Board determined to reduce its size from eleven members to ten, effective as of the expiration of Mr. Lapidus' term. The filing notes that Armando Olivera was previously appointed Lead Director effective at the conclusion of the 2024 Annual Meeting on April 10, 2024, succeeding Mr. Lapidus, who had served as Lead Director from 2005 to that date. Mr. Lapidus joined the Board in 1997 in connection with the Company's acquisition of Pacific Greystone Corporation and is a retired partner of Warburg Pincus LLC, where he was employed from 1967 until 2007.

The filing also includes Stuart Miller, the Company's Executive Chairman and Co-Chief Executive Officer, thanking Mr. Lapidus for his years of service. The only exhibit listed is Exhibit 104, the cover page Interactive Data File. For investors, the filing is a governance update with no financial results or operating metrics reported.