LENNAR CORPORATION (NYSE:LEN) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
(e) On February14, 2018, the Compensation Committee of the Board of Directors of Lennar Corporation (the “Company”) approved 2018 award agreements under the Company’s 2016 Incentive Compensation Plan relating to incentive compensation for Stuart Miller, the Company’s Chief Executive Officer, Rick Beckwitt, the Company’s President, and Jonathan Jaffe, the Company’s Vice President& Chief Operating Officer. The award agreements describe cash bonus opportunities based on the achievement of specified performance goals. Copies of the award agreements are filed as Exhibit 10.1 hereto.
In addition, on February14, 2018, the Compensation Committee of the Board of Directors of the Company approved 2018 award agreements under the Company’s 2016 Equity Incentive Plan relating to equity compensation for Mr.Miller, Mr.Beckwitt, and Mr.Jaffe. Mr.Miller, Mr.Beckwitt, and Mr.Jaffe were granted target awards of 77,178, 69,078, 60,757 shares of ClassA common stock, respectively, that are subject to performance-based vesting conditions, and 77,178, 69,078, 60,757 shares of ClassA common stock, respectively, that are subject to service-based vesting conditions. A copy of the form of award agreement is filed as Exhibit 10.2 hereto.
Item 5.02. Financial Statements and Exhibits.
(d) Exhibits.
LENNAR CORP /NEW/ ExhibitEX-10.1 2 d526400dex101.htm EX-10.1 EX-10.1 Exhibit 10.1 LENNAR CORPORATION 2018 TARGET BONUS OPPORTUNITY CHIEF EXECUTIVE OFFICER NAME ASSOCIATE ID# TARGET AWARD OPPORTUNITY [1] Stuart Miller 100003 0.73% of Lennar Corporation Pretax Income [2] after a 10.96% capital charge [3] [1] The 2018 Target Bonus Opportunity program,…To view the full exhibit click here
About LENNAR CORPORATION (NYSE:LEN)
Lennar Corporation is a homebuilder that operates in various states with deliveries of over 24,290 new homes. The Company’s segments include Homebuilding activities, which include Homebuilding East, Homebuilding Central, Homebuilding West, Homebuilding Southeast Florida and Homebuilding Houston; Lennar Financial Services; Rialto, and Lennar Multifamily. Its Homebuilding operations include the construction and sale of single-family attached and detached homes, as well as the purchase, development and sale of residential land directly and through unconsolidated entities in which it has investments. The Lennar Financial Services segment operations include mortgage financing, title insurance and closing services for its homebuyers and others. The Rialto segment operations include commercial real estate, investment management and finance company. The Lennar Multifamily segment develops a portfolio of institutional multifamily rental properties in select the United States markets.