01—Abstract
Summary
Summary of the 8-K filed April 11, 2025. Cited figures are marked; the original filing is the authoritative source.
Lennar Corporation held its 2025 Annual Meeting of Stockholders on April 9, 2025, where stockholders voted on six proposals.
The filing reports that all ten director nominees were elected to serve until the 2026 Annual Meeting. Each nominee received more votes for than against, though the margins varied. Stuart Miller received 411,229,435 votes for and 70,876,330 against, and Jeffrey Sonnenfeld received 377,791,002 for and 104,629,590 against.
Stockholders approved, on an advisory basis, the compensation of the named executive officers, with 441,380,960 votes for and 57,813,406 against. They also ratified Deloitte & Touche LLP as the independent registered public accounting firm for the fiscal year ending November 30, 2025, with 502,134,650 votes for and 16,802,707 against.
Three stockholder proposals were not approved: one on an Independent Board Chairman (103,902,544 for, 395,370,031 against), one requesting disclosure on how the Company intends to reduce greenhouse gas emissions (52,024,509 for, 429,659,015 against), and one requesting a report on LGBTQIA+ equity and inclusion efforts in human capital management (43,232,126 for, 437,865,157 against). The filing also lists 19,569,464 broker non-votes on the director, compensation, and stockholder proposals.
02—Key points
Key Highlights
- All ten director nominees were elected to serve until the 2026 Annual Meeting of Stockholders, held April 9, 2025.
- Stockholders approved the advisory say-on-pay proposal for named executive officer compensation, with 441,380,960 votes for and 57,813,406 against.
- Deloitte & Touche LLP was ratified as independent registered public accounting firm for the fiscal year ending November 30, 2025, with 502,134,650 votes for and 16,802,707 against.
- Stockholder proposal for an Independent Board Chairman was not approved, receiving 103,902,544 votes for and 395,370,031 against.
- Stockholder proposal requesting disclosure on how the Company intends to reduce greenhouse gas emissions was not approved, receiving 52,024,509 votes for and 429,659,015 against.
- Stockholder proposal requesting a report on LGBTQIA+ equity and inclusion efforts in human capital management was not approved, receiving 43,232,126 votes for and 437,865,157 against.
- Director Jeffrey Sonnenfeld received the most votes against of any nominee at 104,629,590, while Stuart Miller received 70,876,330 against.
03—Questions
Frequently Asked Questions
Who was elected to the Lennar board at the 2025 Annual Meeting?
The filing reports that Amy Banse, Theron I. ("Tig") Gilliam, Sherrill W. Hudson, Jonathan M. Jaffe, Teri P. McClure, Stuart Miller, Armando Olivera, Dacona Smith, Jeffrey Sonnenfeld, and Serena Wolfe were elected as directors to serve until the 2026 Annual Meeting of Stockholders.
Did stockholders approve executive compensation?
Yes. Stockholders approved, on an advisory basis, the compensation of the named executive officers described in the 2025 Proxy Statement, with 441,380,960 votes for, 57,813,406 against, 258,021 abstaining, and 19,569,464 broker non-votes.
Which auditor did stockholders ratify, and for what period?
Stockholders ratified the appointment of Deloitte & Touche LLP as the Company's independent registered public accounting firm for the fiscal year ending November 30, 2025, with 502,134,650 votes for, 16,802,707 against, and 84,494 abstaining.
What stockholder proposals were considered, and did any pass?
Three stockholder proposals were considered: one on an Independent Board Chairman, one on greenhouse gas emissions reduction disclosure, and one requesting a report on LGBTQIA+ equity and inclusion efforts. None of the three was approved by stockholders.
04—Continue